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Seven Days: Vermont Car Blog

March 24, 2009

Vermont Has Fastest Growing Auto Debt In US

Cutcreditcards-main_Full According to a study by TransUnion.com, Vermont has the fastest growing auto debt in America. Vermont experienced an increase of 2.2 percent in average auto debt in the fourth quarter of 2008. The debt increase was by far the highest, with South Dakota coming in second at 1.5 percent.

The report also highlights an upward movement in the overall national 60-day auto delinquency rate, or the ratio of auto loan borrowers that are 60 days late or more on their payments. The delinquency rate jumped 8.86 percent in the fourth quarter of last year as the credit crisis continues to affect more and more consumers and industries.

The report is based on 27 million anonymous credit files. It's an attempt to help gauge the credit health of US consumers. 

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