Top & bottom 10 states for 60-day delinquencies
Experian Automotive’s latest State of the Automotive Finance Market report pinpointed the 10 states with the highest rates of 60-day delinquency after the fourth quarter as well as the 10 states where delinquency to the point where repossession is necessary are the lowest.
The two states tied for the highest 60-day delinquency rate each posted a reading 18 basis points higher than any other area. Experian indicated the rates for both Louisiana and Mississippi came in at 1.20 percent.
The complete rundown of the 10 states with the highest levels of 60-day delinquency includes:
—Louisiana: 1.20 percent
—Mississippi: 1.20 percent
—New Mexico: 1.02 percent
—Maryland: 1.01 percent
—Alabama: 0.97 percent
—South Carolina: 0.96 percent
—Georgia: 0.95 percent
—West Virginia: 0.84 percent
—Texas: 0.83 percent
—Nevada: 0.76 percent
Meanwhile, the 10 states where 60-day delinquency rates were lowest in the fourth quarter cover some of the more remote portions of the country, including where Experian spotted the lowest rate in Q4. Hawaii came in at 0.26 percent.
The places where vehicle installment contract holders are keeping up with their payment schedules best and 60-day delinquencies are lowest include:
—Hawaii: 0.26 percent
—South Dakota: 0.28 percent
—Oregon: 0.30 percent
—Minnesota: 0.33 percent
—Washington: 0.35 percent
—Iowa: 0.36 percent
—Maine: 0.38 percent
—Idaho: 0.39 percent
—New Hampshire: 0.40 percent
—Utah: 0.41 percent