Statistics · 2026 · Real Estate
Auto Loan Debt Statistics (2026)
Americans owed a record $1.71 trillion on auto loans at the end of June 2026, per the New York Fed, up $28 billion (1.7%) in the quarter and 3.5% from a year earlier. Lenders booked $211 billion of new auto loans, the most for any quarter in the series, and 5.49% of auto balances were 90 or more days delinquent.
Key takeaways
- Auto loan balances hit a record $1.71 trillion in 2026 Q2, 3.5% above a year earlier and 29% above the end of 2019.
- New auto loans totaled $210.8 billion in the quarter, a series high, up 12.2% from 2025 Q2.
- 16.1% of new auto loan dollars went to borrowers with credit scores under 620; 40.9% went to scores of 760 or more.
- Banks charged 7.54% on 60-month new-car loans in August 2026, versus 4.82% in 2021.
- 5.49% of auto balances were 90+ days delinquent, just below the series high of 5.60% set one quarter earlier.
How much auto loan debt do Americans have?
U.S. auto loan balances were $1.71 trillion at the end of June 2026, the highest on New York Fed records. That is $28 billion more than in the first quarter and $58 billion more than a year earlier. Auto loans made up 9.1% of the $18.8 trillion households owed.
1. Auto loan debt: $1.71 trillion (record)
The New York Fed Household Debt and Credit Report, 2026 Q2 puts auto loan balances at $1.71 trillion at the end of June 2026, the highest in data back to 2003. The report says “auto loan balances rose by $28 billion (1.7%)” in the quarter.
2. Up 3.5% in a year and 29% since 2019
Balances rose $58 billion from $1.66 trillion in 2025 Q2 and are 29% above the $1.33 trillion owed at the end of 2019, by WealthyBud arithmetic.
3. 9.1% of all household debt
Auto loans are the second-largest household debt after mortgages, ahead of student loans ($1.65 trillion) and credit cards ($1.26 trillion) in the same report.
| Quarter | Auto loan balance | Note |
|---|---|---|
| 2003 Q1 | $0.641T | first quarter of the series |
| 2010 Q2 | $0.702T | post-recession low |
| 2019 Q4 | $1.331T | before the pandemic |
| 2021 Q4 | $1.458T | |
| 2023 Q4 | $1.607T | |
| 2025 Q2 | $1.655T | a year earlier |
| 2026 Q1 | $1.685T | |
| 2026 Q2 | $1.713T | latest, series high |
The Federal Reserve G.19 Consumer Credit release (October 7, 2026) counts a smaller total, $1,574.6 billion of motor vehicle loans outstanding at the end of 2026 Q2 (not seasonally adjusted). One reason the two differ is that the New York Fed figure comes from credit reports and includes leases.
How many new car loans are being made?
Lenders originated $210.8 billion of auto loans in 2026 Q2, per the New York Fed, the largest quarterly total since its series began and 12.2% more than a year earlier. The previous high was $201.9 billion in 2021 Q2. Full-year 2025 originations were $718 billion.
4. $210.8 billion of new auto loans in one quarter
New auto loans appearing on credit reports totaled $210.8 billion in 2026 Q2, after $182.1 billion in Q1 and $187.9 billion a year earlier. The figures are in nominal dollars, not adjusted for inflation.
5. $718 billion originated in 2025
Summing the four quarters gives $718 billion of auto originations in 2025, up from $704 billion in 2024 and $612 billion in 2019.
6. 109.0 million auto loan accounts
Credit reports showed 109.0 million auto accounts in 2026 Q2, fewer than the 116.0 million at the end of 2019. Balances divided by accounts give about $15,714 per account, up from $11,476 in 2019 (WealthyBud arithmetic).
Joint loans can appear on two credit reports, so the New York Fed notes these account counts overstate the number of loans.
What credit scores do new auto borrowers have?
The median credit score on new auto loans fell seven points to 716 in 2026 Q2, per the New York Fed. Borrowers scoring under 620 took 16.1% of new auto loan dollars, while those at 760 or above took 40.9%. One in ten new loans went to a score of 580 or lower.
7. Median score on new auto loans: 716
The median credit score at origination was 716 in 2026 Q2, down from 723 in Q1. From 2026 Q1 the New York Fed uses VantageScore 4.0 instead of Equifax Risk Score 3.0, so older scores are not directly comparable.
8. 16.1% of new auto dollars went to subprime scores
Borrowers with scores under 620 took out $34.0 billion of new auto loans in 2026 Q2, 16.1% of the total, compared with 15.6% in 2026 Q1.
9. 40.9% went to scores of 760 or more
The 760-and-up group borrowed $86.1 billion in 2026 Q2. Its share fell from 42.9% of originations in 2026 Q1.
| Credit score | 2026 Q1 | Share | 2026 Q2 | Share |
|---|---|---|---|---|
| Under 620 | $28.4B | 15.6% | $34.0B | 16.1% |
| 620-659 | $21.5B | 11.8% | $27.5B | 13.1% |
| 660-719 | $32.7B | 18.0% | $40.1B | 19.0% |
| 720-759 | $21.4B | 11.7% | $23.1B | 10.9% |
| 760 and up | $78.0B | 42.9% | $86.1B | 40.9% |
| Total | $182.1B | 100% | $210.8B | 100% |
What are car loan interest rates in 2026?
Commercial banks charged an average 7.54% on 60-month new-car loans and 7.17% on 72-month loans in August 2026, per the Federal Reserve G.19 release. Auto finance companies averaged 6.3% in June on new-car loans of $41,705 over 67 months, the latest month reported.
10. 60-month new-car loan rate: 7.54%
Commercial banks averaged 7.54% on 60-month new-car loans in August 2026, up from 7.14% in the prior quarterly reading.
11. Average amount financed: $41,705
Finance companies lent an average $41,705 on new cars in June 2026, 18% more than $35,307 in 2021.
12. About $740 a month on a typical new-car loan
Financing $41,705 at 6.3% for 67 months costs about $740 a month and $7,872 of interest over the loan (WealthyBud arithmetic, illustrative).
| Measure | 2021 | 2025 | Latest | Latest period |
|---|---|---|---|---|
| Commercial banks, 60-month new car | 4.82% | 7.65% | 7.54% | August 2026 |
| Commercial banks, 72-month new car | 4.82% | 7.80% | 7.17% | August 2026 |
| Finance companies, new car rate | 4.6% | 6.4% | 6.3% | June 2026 |
| Finance companies, amount financed | $35,307 | $40,582 | $41,705 | June 2026 |
| Finance companies, maturity (months) | 67 | 66 | 67 | June 2026 |
How many auto borrowers are behind on payments?
5.49% of auto loan balances were 90 or more days delinquent in 2026 Q2, per the New York Fed, after a series high of 5.60% in Q1. Over the past year, 3.00% of auto balances moved into serious delinquency, above 2.36% in 2019 but below the 3.48% peak in 2009.
13. 5.49% of auto balances are 90+ days late
The share was 5.49% in 2026 Q2 after 5.60% in Q1, the highest reading since the series began in 2003. It was 4.94% at the end of 2019 and 3.98% in 2021 Q4.
14. 7.87% of balances moved into early delinquency
Over the year to 2026 Q2, 7.87% of auto balances became 30 or more days late, up from 7.72% in Q1. The report says transition into early delinquency “upticked slightly for auto loans.”
15. 3.00% moved into serious delinquency
3.00% of auto balances became 90+ days delinquent over the past year. The series peak is 3.48% in 2009 Q2.
| Measure | 2019 Q4 | 2025 Q2 | 2026 Q1 | 2026 Q2 |
|---|---|---|---|---|
| Balances 90+ days delinquent | 4.94% | 4.99% | 5.60% | 5.49% |
| Moved into 30+ day delinquency (past year) | 6.91% | 7.96% | 7.72% | 7.87% |
| Moved into 90+ day delinquency (past year) | 2.36% | 2.93% | 2.97% | 3.00% |
Which age groups hold the most auto debt?
Borrowers aged 40 to 49 hold the most auto debt, $409 billion in 2026 Q2. Borrowers under 30 hold $205 billion, or 12.0% of the total, but 4.83% of their auto balances moved into serious delinquency over the past year, the highest rate of any age group.
16. Ages 40-49 hold $409 billion of auto debt
Borrowers aged 40-49 carried the largest auto balance in 2026 Q2, followed by ages 30–39 at $381 billion. They also took out the most new auto loans in the quarter, $49.8 billion.
17. Under-30s: 4.83% moved into serious delinquency
Over the year to 2026 Q2, 4.83% of auto balances held by borrowers aged 18–29 became 90+ days delinquent, versus 1.77% for ages 60–69 and 3.00% overall.
| Age | Auto balance | New loans in Q2 | Moved into 90+ delinquency (past year) |
|---|---|---|---|
| 18–29 | $205 billion | $31.7B | 4.83% |
| 30–39 | $381 billion | $47.7B | 3.91% |
| 40–49 | $409 billion | $49.8B | 2.79% |
| 50–59 | $351 billion | $39.1B | 2.19% |
| 60–69 | $228 billion | $26.1B | 1.77% |
| 70+ | $136 billion | $16.0B | 2.45% |
Which states carry the most auto debt per person?
Among the 11 large states the New York Fed reports, Texas has the most auto debt per person with a credit report, $8.24 thousand in 2026 Q2, against $5.79 thousand nationally. New York has the least at $4.28 thousand, 26% below the national figure.
18. Texas: $8.24K of auto debt per person
Texas’s per-capita auto balance is 42% above the U.S. figure of $5.79 thousand. Florida ($6.69K) and Nevada ($6.36K) are next among the states the report lists.
| State | Auto debt per capita | vs U.S. |
|---|---|---|
| Texas | $8.24K | +42% |
| Florida | $6.69K | +16% |
| Nevada | $6.36K | +10% |
| Arizona | $6.03K | +4% |
| California | $5.34K | −8% |
| Ohio | $5.31K | −8% |
| Pennsylvania | $5.22K | −10% |
| Illinois | $5.07K | −12% |
| New Jersey | $5.03K | −13% |
| Michigan | $4.87K | −16% |
| New York | $4.28K | −26% |
| United States | $5.79K | – |
What this means for investors and homebuyers
A car payment counts against the same debt-to-income limit as a mortgage. At June's average finance-company terms, a new-car payment is about $740 a month. At a 7.40% 30-year rate, that monthly sum would carry roughly $107,000 of mortgage principal, by WealthyBud arithmetic.
19. A $740 car payment equals about $107,000 of mortgage
At the 7.40% 30-year fixed rate in the Freddie Mac PMMS for the week of October 15, 2026, $740 a month pays principal and interest on roughly $107,000 of mortgage debt (WealthyBud arithmetic).
- Mortgage lenders add the monthly car payment to your other debts when they calculate debt-to-income, so a new car loan can lower the home price you qualify for.
- A late auto payment lowers your credit score, and a lower score usually means a higher mortgage rate.
- Landlords screening tenants see auto loans on credit reports; the high serious-delinquency rate among borrowers under 30 is worth watching in rental markets with many young renters.
For the wider picture, see household debt statistics, credit card debt statistics and student loan debt statistics. To see how debt payments affect buying power by metro, use income needed to buy a home.
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