Performance Report: Consumer Unsecured and Subprime Auto, February 2025

Our February 2025 performance data is in, and credit conditions continue to show strength — particularly in Consumer Unsecured, where higher-income borrowers are delivering outsized returns.

Quick Insights

Consumer Unsecured

• ROI: ROI differences by income are widening. >$200k borrowers now significantly outperform even the $135–200k group.

• Impairments: 30+ Impairments dropped 24 bps MoM—double the seasonal trend.

• Charge-offs: Charge-offs and Impairment Net Charge-offs fell to pre-COVID levels across most vintages.

Subprime Auto

• Impairments: First-Time New Impairments hit their lowest level since 2021.

• Charge-offs: Charge-offs remain below pre-COVID, but loss severity hit a record high of 55%.

• Regions: FL/GA/SC saw the slowest improvement in impairments of any region so far this year.