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Vehicle financing remains one of the heaviest burdens on U.S. household finances. Outstanding auto loan balances reached $1.734 trillion at the end of the third quarter of 2026, according to the Federal Reserve Bank of New York’s quarterly Household Debt and Credit Report, released on November 10.
The total represents a 1.2% increase ($21 billion) from the second quarter and a 4.8% jump ($79 billion) compared with the same period in 2025.
Broader household borrowing
The climb in auto debt mirrors a wider expansion in consumer credit. During the third quarter, total U.S. household debt rose by $334 billion to reach $19.1 trillion, with vehicle loans accounting for roughly 6% of that quarterly growth.
Financing activity also stayed brisk between July and September, with $208 billion in newly originated auto loans appearing on consumers’ credit reports—a figure that reflects new credit volume rather than net balance growth, as older loans are paid off.
Separate data from the Consumer Financial Protection Bureau (CFPB) highlights the scale of monthly originations: in its April 2026 snapshot, lenders issued 2.3 million auto loans totaling $73.7 billion, a 0.7% dip in loan volume compared with April 2025.
Early-stage payment pressure
While balances continue to grow, repayment indicators show mixed signals:
- Early delinquencies: Transitions into early-stage delinquency (30 days past due) increased during the third quarter for both auto loans and mortgages, signaling fresh strain on household budgets.
- Serious delinquencies: The transition rate into severe delinquency—defined as 90 or more days past due—stood at 3.02%, virtually unchanged from the 2.99% recorded in the third quarter of 2025.
The figures suggest that while more borrowers are starting to fall behind on their monthly car payments, widespread defaults have yet to materialize.