Auto loans top $1 trillion

Published: June 9, 2016 by Guest Contributor

According to the most recent State of the Automotive Finance Market report, the total balance of open automotive loans increased 11.1% in Q1 2016, reaching $1.005 trillion — up from $905 billion in Q1 2015. This is the first time on record that automotive loans have passed the $1 trillion mark. The report also revealed that subprime loan volumes experienced double-digit growth and overall delinquencies remained low.

With more consumers relying on financing, lenders should monitor credit and delinquency trends in order to adjust strategies accordingly.

>>Webinar: Hear about the latest consumer credit trends

Auto cc 2016

Related Posts

View our digital lending trends report for a full analysis on origination volume trends, delinquency trends, and consumer behavior insights. Read more!

Published: June 1, 2023 by Laura Davis

With the right technologies and solutions, rental housing operators can manage risk and create better experiences for prospective renters.

Published: February 9, 2023 by Manjit Sohal

Matthew Baltzer, Senior Director of Product Marketing, discusses challenges facing the debt collections industry and how to build a profitable portfolio.

Published: November 30, 2022 by Laura Burrows