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Posted: 8:14 AM Oct 8, 2008
Drivers Struggle to Pay Car Loans
It's getting harder for car owners to pay on time. A new report shows $25 Billion in auto loans are past due.
Reporter: Malorie Maddox Email Address: sixonline@wowt.com |
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It's getting harder for car owners to pay on time.
A report by Global Information Solutions Company Experian Automotive says about $25 Billion in auto loans are past due.
Lenders saw a 9% increase in loans 30 days past due in the second quarter of 2008 from a year earlier, and a 11% increase in loans 60 days past due.
Analysts still call the delinquency rate "manageable," with less than 4% of 30 or 60 day loans past due.
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