Arizona Car Repo Rate Highest in U.S.

Motorists in the Southwestern states are more likely to have their vehicles repossessed than other Americans, a new study indicates, with Arizonans faring worst.

About 3.28 percent of Arizona motorists have a repossession in their credit files, according to a recent sampling of 3 million consumer profiles by Experian, one of three main credit-reporting firms nationwide.

The same survey indicated that Arizonans also have lower average credit scores, or ratings, and higher average car payments than other Americans.

“Negative information stays in files up to seven years,” said Heather Greer, an Experian spokeswoman in Irvine, Calif. “The bottom line is that it affects credit scores.”

Experian and other researchers compile credit scores that lenders rely on, in part, to decide whether to extend loans and on what terms. Arizona ranks with Texas and Nevada as the bottom three states for average credit scores, according to two measures used by Experian.

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