Auto loan extensions monitor
In response to the economic fallout from the COVID-19 pandemic, servicers have been granting auto loan extensions at some of the highest rates on record to keep borrowers from falling delinquent. This dashboard uses selected data from Elicient's database of 11.5+ million auto loans in publicly issued auto abs deals to track where those extensions are taking place, the rate at which servicers are granting extensions, and the characteristics of the loans that have been hardest hit by this crisis.
Below, extension rates are grouped by shelf, allowing for comparison between specific issuers.
Extensions by shelf
Filter by shelf
Elicient subscribers may filter by individual shelves.
Delinquency rate
The graph below examines the degree to which extension rates vary by state, and how they have trended since the beginning of the pandemic.
Green bars represent the percentage of loans extended in the given month that were not extended in the prior month. Blue bars represent the percentage of loans that were not extended in the given month, but had been extended in the prior month. Finally, orange-red bars represent loans that have been extended in both the given and prior months (i.e., loans that have been extended for a second month in a row).
Note that prior to this crisis, most servicers required 6 months to elapse between extensions.
Extensions by state
Filter by state
Filter by shelf
Elicient subscribers may filter by individual shelves.
Extension rates for loans with longer terms and larger monthly payments are higher than those in other buckets, potentially warranting particular attention. Higher payments may be harder to catch-up on at the end of the extension term, and further extending already-protracted loans may leave borrowers deeper underwater.
Extensions by payment terms
Elicient subscribers may filter by individual shelves.
Original term
Payment amount
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Something not here that you'd like to see? We'd love to hear your ideas and feedback! Reach out to us at hello@elicient.com
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