• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

2

When SpaceX starts trading, some 'shareholders' will discover they own nothing at all

3

Current price of oil as of June 12, 2026

1

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

2

When SpaceX starts trading, some 'shareholders' will discover they own nothing at all

3

Current price of oil as of June 12, 2026

The South Has a Huge Auto Loan Problem

Lucinda Shen
By
Lucinda Shen
Lucinda Shen
Down Arrow Button Icon
Lucinda Shen
By
Lucinda Shen
Lucinda Shen
Down Arrow Button Icon
May 19, 2016, 5:46 PM ET
Volkswagen AG Reported To Be In Talks Over Pollution Punishment Funds
New automobiles, manufactured by Volkswagen AG, sit on railway transporters in Munich, Germany, on Wednesday, March 17, 2016. Volkswagen is in talks with U.S. authorities to establish a national remediation fund and a separate one for California as punishment for pollution from its cars after the automaker cheated on diesel-emissions tests, said people familiar with the matter. Photographer: Krisztian Bocsi/Bloomberg via Getty ImagesPhotograph by Krisztian Bocsi—Bloomberg via Getty Images

Not all states are equal when it comes to auto loan delinquencies.

Over the past few years, regulators have become increasingly alarmed about the rising volume of auto loans and delinquencies in the U.S. Some have drawn (questionable) parallels to the role of subprime mortgages leading up to the financial crisis. And the first three months of 2016 has been no exception to supporting that trend.

Experian, an industry analyst group, reported that total outstanding auto loans in the first three months of 2016 reached $1.005 trillion—up 11% year over year. That’s slightly lower than the Federal Reserve‘s estimates of $1.052 trillion as of March.

At the same time, repayments that have missed a month, 30-day delinquencies, have also risen from 2.02% in the first quarter of last year to 2.10% of loans this year.

Yet, while delinquencies might be expected to hit states with a higher number of cars per capita—such as the oil rich states of North Dakota or Alaska—it’s the Southern states that actually experience higher rates of delinquencies.

According to Experian, Louisiana at 3.08%, and Mississippi, at 3.28%, saw some of the highest rate of delinquencies in the first quarter of 2016. Maryland, with a delinquency rate of 3.18% also places in the top three states.

Screen Shot 2016-05-19 at 3.19.00 PM

 

Experian also noted that the volume of subprime loans increased 10.9% year over year. Open leases also grew by 27.6%, to an all-time high of $76.9 billion.

Though the company also noted that delinquency rates are still low compared to historical levels.

“Findings from the report also show that while there were increases in both 30- and 60-day delinquency rates, the overall percentage of total delinquent loans remains relatively low when compared to pre-recession levels,” Experian wrote in a statement.

 

About the Author
Lucinda Shen
By Lucinda Shen
See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

Courtney Robinson, head of policy and communications, at Akoya speaks on a panel at Fortune Brainstorm Tech 2026.
RetailBrainstorm Tech
AI shopping agents are coming. No one is ready for them
By Jeremy KahnJune 12, 2026
4 hours ago
AI can be a ‘secret sauce’ or a way of ‘democratizing mediocrity’—Here’s how business leaders are getting the best of the technology
C-SuiteBrainstorm Tech
AI can be a ‘secret sauce’ or a way of ‘democratizing mediocrity’—Here’s how business leaders are getting the best of the technology
By Amanda GerutJune 12, 2026
4 hours ago
‘Buy a ticket for 60 bucks and resell it for $6,000’: NYC Mayor Mamdani criticized FIFA’s resale market, but his jersey drop created the same thing
North AmericaNew York City
‘Buy a ticket for 60 bucks and resell it for $6,000’: NYC Mayor Mamdani criticized FIFA’s resale market, but his jersey drop created the same thing
By Catherina GioinoJune 12, 2026
6 hours ago
Elon Musk stands behind the Nasdaq opening bell and in front of a "SpaceX" background.
Startups & VentureSpaceX
Founders Fund, Andreessen Horowitz, Valor, and the biggest VC winners from SpaceX’s IPO
By Allie GarfinkleJune 12, 2026
7 hours ago
Liability Car Insurance Explained: What It Covers and How Much You Need
Personal FinanceInsurance
Liability Car Insurance Explained: What It Covers and How Much You Need
By Joseph HostetlerJune 12, 2026
8 hours ago
Sven Gerjets, chief technology officer at Gap, speaks on stage on a panel at Fortune Brainstorm Tech 2026.
Future of WorkBrainstorm Tech
Why companies are treating AI as a strategic partner rather than a passive technology, and how to avoid an ‘AI hangover’
By Sebastian HerreraJune 12, 2026
8 hours ago

Most Popular

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
Environment
Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
By Catherina GioinoJune 9, 2026
4 days ago
When SpaceX starts trading, some 'shareholders' will discover they own nothing at all
Investing
When SpaceX starts trading, some 'shareholders' will discover they own nothing at all
By Jim EdwardsJune 12, 2026
18 hours ago
Current price of oil as of June 12, 2026
Personal Finance
Current price of oil as of June 12, 2026
By Joseph HostetlerJune 12, 2026
15 hours ago
American taxpayers have spent $33 billion on sports stadiums. They got fewer seats—and higher prices
Success
American taxpayers have spent $33 billion on sports stadiums. They got fewer seats—and higher prices
By Catherina GioinoJune 11, 2026
1 day ago
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
Energy
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
By Sasha RogelbergJune 10, 2026
2 days ago
Current price of oil as of June 11, 2026
Personal Finance
Current price of oil as of June 11, 2026
By Joseph HostetlerJune 11, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.