State of the 2021 auto lending industry

by Tony Streeter, SWBC LenderHUB

Earlier this year, industry experts released a report on the full picture of auto loan debt and trends in the country. Their research data included auto loan originations, prices, term lengths, delinquencies, and other aspects of auto debt in the U.S. Here are their most relevant findings:

  • The average monthly car payment in the U.S. is $563 for new vehicles, $397 for used vehicles, and $450 for leased vehicles.
  • Overall, Americans owe nearly $1.4 trillion in auto loan debt.

 

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