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Mississippi has the highest percentage of its auto debt balance in delinquency of more than 90 days at 6.1%, 60% above the national average of 3.81%.
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Alabama is second, with 5.58% of auto loan balances in more than 90 days of delinquency, and Louisiana is third, with 5.44%.
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Georgia is fourth, with 4.96% of auto loan balances in more than 90 days of delinquency.
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Utah has the lowest percentage of auto loan balance in delinquency of more than 90 days at 1.73%, 55% below the national average.
A new study has revealed that Georgia has the fourth highest percentage of auto loan balances with more than 90 days of delinquency in America.
Wrongful Repossession Attorneys Thompson Consumer Law Group analyzed auto loan data from the Federal Reserve Bank of New York to see which states had the highest percentage of its auto loan balance that have been delinquent for more than 90 days. A loan becomes delinquent once a borrower misses a payment.
The study also found that the percentage of auto loan balances with more than 90 days of delinquency is increasing. Between Q4 2022 and Q4 2023, the percentage of auto loan balances that are more than 90 days delinquent in America increased from 3.73% to 4.17%.
1. Mississippi
Mississippi has the highest percentage of its auto debt balance in more than 90 days of delinquency at 6.1%. This is 60% above the national average of 3.81% of auto debt balances being in delinquency of more than 90 days.
2. Alabama
Alabama has the second-highest percentage of its auto debt balance in delinquency of more than 90 days at 5.58%, 47% above the national average.
3. Louisiana
Louisiana is third, with 5.44% of its auto debt balance being in delinquency for over 90 days. This is 43% above the national average.
4. Georgia
In fourth is Georgia, with 4.96% of its auto debt balance being more than 90 days delinquent, 30% above the national average.
5. New Mexico
With 4.83% of its auto debt balance in more than 90 days of…
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