 TITLE: U.S. Auto Debt Grows to Record High Despite Pandemic CONTENT: Auto Delinquencies Dipped But Are Now on the Rise\n-------------------------------------------------\nWithout sweeping policies that paused or helped to defer auto loan repayment, consumers had to either continue paying their auto debt or find other means to avoid missing payments.\nWhile rates of most delinquency decreased sharply during the first months of the pandemic, data from Q4 2020 shows that the number of past-due accounts is creeping up again. From Q3 to Q4 of 2020, the ratio of accounts 30 to 59 days past due (DPD) increased by 12%; 60 to 89 DPD accounts rose by 18%; and 90 to 180 DPD accounts rose by 3%.\nThat followed the period between 2019 and Q3 2020 when consumers saw the percentage of their accounts 30 to 59 days past due drop by 26%, according to Experian data. The ratio of delinquent accounts 60 to 89 DPD also fell by 22%.\nThe only exception to delinquency improvement over that time period was the percentage of accounts severely behind (90 to 180 DPD), which saw an increase between 2019 and Q3 2020. Among other possible factors, this group could include people who were past due at the onset of the pandemic and were not able bring their accounts up to date during the crisis.\nThough delinquencies (those in the 30 to 59 and 60 to 89 DPD ranges) for auto debt were ultimately down between 2019 and Q4 2020, the slow increase observed in the last quarter may indicate that change is coming.\nSource: Experian\nOverall, the decline in delinquent auto accounts is positive, as payment history is the most important aspect of a consumer's credit score. So far during the pandemic, the average FICO® Score☉ has increased, growing 7 points to a record of 710 in 2020. END