The ratio of borrowers more than 60 days in arrears on car loans was up in the fourth quarter of 2012 in the US, the first year-on-year rise for a quarter since 2009, according to Experian Automotive.

The American operation of the international credit reference agency said the default rate rose from 0.72% at the end of 2011 to 0.74% at the end of 2012 but, while 60-day loan delinquencies were on the rise, 30-day delinquencies fell 0.07ppts to 2.72%.

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Meanwhile, US credit reference agency TransUnion put the 60-day ratio at 0.41%, down from 0.46% at the end of 2011 but up from 0.38% at the end of Q3 2012.

However, both companies have spoken of the low level of default on car loans in the US, with Experian Automotive saying post-recession car finance in the nation was still stable. By comparison, 30-day delinquencies hit 3.06% in the second quarter of 2009, with 60-day delinquencies at 0.80%, rising to 0.94% by the fourth quarter. Second quarter default rates marked $25.5bn (£16.85bn, 16 May exchange rate) of loans as at-risk.

TransUnion added debt per borrower rose for the seventh quarter, up by 5.4% on the figure at the end of 2011 to $13,747 (£9,075).

As with the UK, US new car registrations hit a post-recession high in 2012, albeit still down on pre-2008 levels, with the average finance provider seeing around 25% year-on-year growth in the fourth quarter.

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Participants at a trans-Atlantic Motor Finance round table in December 2011 discussed the advantage of the US market whereby customers would be more likely to be attracted to a dealership based on finance, which could then be discussed from the start of the retail process.

richard.brown@timetric.com