The nation’s second largest auto lender wrote off an annualized 1.37% of its outstanding auto loans in Q3, up from 1.01% in Q2. Why? Used car prices are falling for the first time since 2008 as the number of cars coming off leases in 2016 is expected to reach 3.1 million, up 33% from 2015. In 16Q2, leasing accounted for 31.4% of all new-vehicle sales compared to 13.5% in 09Q2.