GITNUX MARKETDATA REPORT 2024

Voluntary Repo Credit Reporting Period Statistics

Typically, the credit reporting period for a voluntary repo is seven years from the date of delinquency.

Statistic 1

"Voluntary repossessions stay on your credit report for up to seven years."

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Statistic 2

"The total auto loan debt in the U.S. is more than $1.2 trillion."

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Statistic 3

"4% of repossessed cars return to their original owners who manage to clear dues."

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Statistic 4

"Approximately 7 million Americans have their vehicles repossessed each year."

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Statistic 5

"Voluntary repossession can drop your credit score by 100 points or more."

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Statistic 6

"About 45% of repossessions occur within the first year of the loan term."

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Statistic 7

"The average recovery amount on auctioned repossessed cars is about 34% of the car's original value."

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Statistic 8

"The auto finance industry recovers roughly 68% of car value through auctions post-repossession."

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Statistic 9

"The average monthly car payment in the U.S. is $575 for new cars."

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Statistic 10

"12% of credit disputes involve repossessed vehicles."

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Statistic 11

"86% of leases result in voluntary repossession."

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Statistic 12

"The U.S. auto repo market is estimated to be worth over $1 billion annually."

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Statistic 13

"Repossession-related debts are often settled for about 30% of the original amount owed."

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Statistic 14

"After a repossession, it can take up to seven years for an individual's credit score to recover."

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Statistic 15

"Involuntary repossessions are more common than voluntary repossessions."

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Statistic 16

"Nearly one-third of all vehicle owners have missed at least one car payment recently."

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Statistic 17

"Subprime borrowers comprise 22.1% of all auto loans."

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Statistic 18

"The average duration of car loans has increased to 69.7 months."

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Statistic 19

"The share of auto loans in serious delinquency (90+ days past due) rose to 6.1% in 2020."

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Statistic 20

"Voluntary repossession may not reduce the deficiency balance owed by much."

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