NEW YORK-* creditor relief delinquencies fall
* AVG credit score for new car loans later in Q1 - Experian
By David Henry
U.S. lenders are their standards for car loans, with average credit scores for new car borrowers fall to their lowest level since late 2008 Credit Bureau published reduce report on Thursday.
Lenders are easing, because some existing borrowers on payments, fall behind said Melinda Zabritski, Director of automotive credit in British credit information company Experian.
The average credit score for new car loans fell 10 points in the first quarter to 766, the same level as in the fourth quarter of 2008, according to Experian.
Lenders are extending it to more subprime borrowers who demolished the average credit score credit. Subprime borrowers made 41.9 percent of borrowers for loans for new and used cars in the quarter of 40.7 percent a year earlier. Subprime borrowers have results in 680.
30 Days delinquencies fell to 2.52%, its lowest level since the fourth quarter of 2008.
"How the automotive credit market show continue to stabilize, a higher tolerance for risk, lenders", Zabritski said.
The loan of 30 or 60 days delinquent dropped $3.3 billion a year ago to $16 billion.
Borrowers, lenders in the quarter were compared with the previous year repay an extra month to their loans on average. The average term of 63 for new cars and reached 58 months for used cars, said Experian.
The top two U.S. Auto lenders have been using a 9.4 percent market share and Wells Fargo & co, with 6.1 per cent, according to the report of ally financial. (Reporting by David Henry;) (Editing by John Wallace)
Copyright 2011 Thomson Reuters.
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