Top 10 States With the Highest Auto Loan Delinquencies

Auto loans are at an all-time high, up year-over-year to $1,108 TRILLION for the first quarter of 2018, according to Experian. The good news is that the deep sub-prime and sub-prime have reduced year-over-year. Deep subprime, is defined as a FICO score below 300-500 by Experian, and subprime is a FICO score of 501-600.

The good news is that 30-day delinquency rates have started to improve, meaning that people are beginning to pay on time. The highest rates of delinquency remain in D.C. and the Southern States.

The 60-day delinquency rate has not started to improve overall on a year-to-year basis. Thirty days you can understand being late, you just forgot, or it got lost in the mail, or your dog ate it – plenty of excuses, I mean reasons. Sixty days late is getting on, and the credit score is going to go down. You would think that the same states that are 30-days behind are 60-days behind. While they are still the same Southern States, they are not in the same order. Which States are the worst in 60-day auto loan delinquencies?

Top 10 States With the Highest Auto Loan Delinquencies
60-day deliquency rate versus 30-day deliquency rate

10. Nevada – .76% Nevada – 2.07%

Nevada was tenth in line for 60-day deliquency rate versus 30-day deliquency rate. While the 60-day rate was much better than the 30-day rate, Nevada is stuck in tenth place.

9. North Carolina – .77% New Mexico – 2.12%

North Carolina cleans up its act somewhere between the 30-day and 60-day delinquency rate, ranking eighth in the 30-day delinquency, but pulling it together before the next month’s payment.

8. Texas – .78% North Carolina – 2.17%

Texas and North Carolina are both cleaning up their act in the 60-day delinquency area. Keep up the good work Texas!

7. New Mexico – .80% Texas – 2.27%

New Mexico – what happened? You were ninth in the 30-day delinquency, but you have your work cut out for you in the 60-day delinquency.

6. Georgia – .89% Alabama – 2.34%

Georgia and Alabama are in a race! Just a 1/10th of a percentage point put Alabama higher than Georgia in delinquencies. I’ll bet if just one family had paid in the 30-day rate Alabama could have been sixth in the rankings instead of fifth.

5. Alabama – .90% Georgia – 2.38%

South Carolina, Louisiana, Mississippi and Washington D.C. all have their work cut out for them. They are the top States in delinquency for 30-days and 60-days. With auto manufacturing in the South, I’d like to see those delinquency numbers come down.

4. South Carolina – .95% South Carolina – 2.43%

3. Louisiana – 1.11% Louisiana – 2.84%

2. Mississippi – 1.22% Mississippi – 3.10%

1. Washington D.C. – 1.33% Washington D.C. – 3.36%