The correction in auto recovery rates
After spiking to some of the highest levels on record, recovery rates are now reverting to their historical averages. What caused this surge to begin with?
COVID-19 auto loan performance monitors
The COVID-19 pandemic has pushed many auto credit performance metrics to previously unseen levels, oftentimes in counterintuitive directions. Our performance monitors leverage our database of 11.5+ million auto loans to help credit investors stay ahead of the curve as new trends emerge.
Use our extension monitor to track the flood of extensions that were granted early in the pandemic and the impact they had on delinquency rates, and our recovery rates monitor to track how recovery rates unexpectedly increased as the crisis ensued, only to revert to pre-pandemic levels.
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How many payments?
11/9/20
Among the many challenges already facing borrowers that have taken advantage of payment deferments, another one they may not have foreseen is now emerging: balances that refuse to decrease even as regular payments are resumed.
Prefer to defer
6/16/20
Auto lenders who have granted the fewest extensions during the COVID-19 pandemic have also seen the smallest declines in borrowers' payment rates. That could be good news for investors worried about a wave of defaults as extensions expire.
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