Consumer auto loans are up and delinquencies are falling, but those facts are not persuading consumers to pursue loans for new vehicles, the Credit Union Times reports. Additionally, loans for used cars are keeping the business sector profitable for credit unions. According to the CUNA Mutual Group, used vehicle loans jumped 4.1 percent in 2010, leading to an increase of $4.1 billion in new revenue for credit unions. Last year, the average interest rate for used car loans was 4.5 percent. However, loans for new vehicles dipped into the red last year, falling $12.6 billion and $1.1 billion in December alone. The figures represent a 16.4 percent total decline. However, despite gains in the used loan market, 2010 was a year of overall declines. In all, the auto lending market slipped 4.8 percent at an annualized rate, costing lenders $8.5 billion, with a four-year decline of 7.9 percent from September 2007. Future projects do not look any more favorable. CUNA projects lending trends will remain below industry norms through the end of 2012.