TransUnion: Ohioans finding it easier to pay car loans | Used Car ...

The share of Ohioans at least 60 days behind on their car payments was among the lowest in the nation in the first quarter, a credit reporting agency said Wednesday.

The auto loan delinquency rate in Ohio during the first three months of the year stood at 0.24 percent, says the report from Chicago-based TransUnion. Nationally, the rate eased to 0.36 percent, its lowest since 1999, when TransUnion started tracking the data.

Six states showed auto loan delinquency rates greater than 0.51 percent ? Florida, Kentucky, Louisiana, Mississippi, Oklahoma and Tennessee. Mississippi?s rate of 0.77 percent was the highest.

The easing delinquency rate ?can be attributed primarily to growing demand for both new and used vehicles and higher used-vehicle values, which equates to an increase in equity for consumers,? Peter Turek, automotive vice president in TransUnion?s financial services business unit, said in a release. ?We are seeing increases in both lending and leasing across the board, along with a higher number of loans originated in the non-prime risk segments.?

The average auto debt of $11,780 per borrower in Ohio was second-lowest in the quarter trailing Nebraska at $11,406, the report said. The highest auto debt per borrower was $14,961 in Wyoming.

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