The Auto Channel
The Largest Independent Automotive Research Resource
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

2019 Auto Loan Debt Facts



Recently published LendingTree auto loan statistics.

  • Americans originated a record 2.5 million auto loans in July 2018, the most recent month for which data is available.
  • Americans owed more than $1.14 trillion in auto loans as of September 2018, 23% more than 2013.
  • Outstanding auto loan balances are rising about 3.1% a year in dollar amounts.
  • Auto loans accounted for about 8% of outstanding consumer debt in 2018, including mortgages, about 2 percentage points higher than a decade earlier.
  • Gen Xers carry the highest auto loan balances with a median of $18,741 and are the most likely of other age groups to have a car loan.
  • The average new car loan originated by a finance company is $29,921.27, an increase of more than $5,000 from 10 years earlier.
  • Average monthly payments are rising, too:
    * $530 for new vehicles, up 5% year over year
    * $381 for used vehicles, up 4% *$430 for a new vehicle lease, up 4%
  • The average auto loan term in the third quarter of 2018 was 68.5 months, a half-month increase from one earlier.
  • 2.3% of outstanding auto debt is "seriously delinquent" (90 days or more).

View the full resource here