The ratio of U.S. auto loan borrowers who were 60 or more days past due on their payments increased in the third quarter over the second quarter from from 0.73% to 0.81%, according to Trans Union. The year-over-year delinquency rate at the national level increased by 1.25% in the third quarter.
Mississippi (1.53%) and California (1.33%) were the hardest hit. The lowest auto loan delinquency rates were found in the District of Columbia (0.26%), North Dakota (0.35%) and South Dakota (0.37%). Average auto debt nationally continued to decrease slightly in the third quarter of 2009 from $12,560 to $12,542. Likewise, the year-over-year auto debt fell by 2.5%.