F&I

Subprime ABS delinquency sets September record

Loans 30-plus days late in subprime auto ABS pools reached 17.68% of balances in September, the highest September on record and up 153 basis points from a year earlier (roughly a third of that from like-for-like performance), with 60-plus at 7.00%. Prime pools rose 15 bps to 1.65%, including increases at Honda and Toyota trusts, per LoanTape's analysis of SEC ABS-EE filings (September data). The figures point to more stress in these securitized pools, not a delinquency rate for every auto borrower.

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