Automotive finance has been given a bit of a reprieve, according to a new Experian Automotive study. Quarterly repossessions dropped by 14.8% in Q2 2013 the lowest rate since it began tracking data seven years ago. According to its latest State of the Automotive Finance Market report, 0.36% of all vehicle loans ended in a repossession, down from 0.43% in Q2 2012. It also represented a 10.4% decrease from the low point of 0.41% in Q2 2006.
Consumers in the second quarter have done an exceptional job of meeting their financial obligations to keep the market strong, said Melinda Zabritski, Experian's senior director of Automotive Credit.The Article Vehicle Repossessions Drop, Says Experian Automotive Report appeared first on Automotive Digest.