Jun. 30 at 7:30 PM
S&P Global: The average age of passenger cars on the road in the US is currently 14.5 years
Bankrate: The average auto loan interest rate for new cars in 1Q25 was 6.73%, while the average used car loan interest rate was 11.87%.
Avg new amount financed:
$41,720 [up +2.73% y/y]
Avg monthly lease payment:
$595
Avg monthly loan payment:
$745
Nearly 14.5% of all new payments (loan & lease combined) are over
$1K
LendingTree: 5.1% of Americans are delinquent on at least 1 auto loan: 2% of borrowers were 30 days late on a payment, while 0.9% were 60 days late & another 0.9% were 90 to 120 days late
Fitch: 6.6% of subprime auto borrowers were at least 60 days past due on their loans as of Jan 2025.
Federal Reserve: Auto loan balances totaled
$1.642T in 1Q25, a -0.8% q/q. It’s only the 2nd time loan balances have dropped b/n quarters since 2011.
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