Auto Loan Delinquencies Creep Higher

The ratio of U.S. auto loans overdue by at least 60 days edged up to 0.74% of total loans in the fourth quarter of 2012 from 0.72% a year earlier, according to Experian Automotive.

The Schaumburg, Ill.-based research firm reports that the value of 60-day delinquent loans grew to $3.9 billion from $3.5 billion in the October-December period of 2011.

Last quarter marked the first year-over-year increase in the delinquency ratio since late 2009, when the rate was 0.94%.

Thirty-day delinquencies dropped to 2.72% of outstanding loans in the latest three-month period from 2.79% a year earlier. Repossession rates also declined.

Experian says the U.S. auto lending market remains "extremely healthy."