The Auto Channel
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The Largest Independent Automotive Research Resource
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2019 Auto Loan Debt Facts


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PHOTO

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