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Research Outline
Prepared for Robert H. | Delivered December 8, 2019
UK Auto Loan Delinquency Rates (2)
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Goals
To review the auto loan portfolios of top lenders in the UK to determine what percentage of their loans have exceeded 30 and 90 days delinquencies.
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Early Findings
In a recent study by
the FCA
on motor finance,
2.4 %
of accounts with motor finance loans had one or two missed payments at the end of 2016 (30 days delinquency), while
0.4%
of accounts had between 3 and 5 missed payments (90 days delinquency).
The study was published in
2018
but relied on data from 2014 and 2016 (the latest sets of data available).
Auto providers in the UK do not typically outline their auto loan delinquency rates. Major providers such as
Barclays
and
Lloyds
tend to combine their auto delinquency rates with other forms of loans such as home loans, credit cards, and other unsecured loans.
Overall,
0.4%
and
0.1%
of Barclays loans have exceeded 30 and 90 days delinquencies respectively.
According to the FLA, overall delinquency rates are low.
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