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Most of the new vehicles in the United States in 2024 were acquired using some kind of financing, such as loans or leases. Meanwhile, only slightly over a ***** of used cars were purchased using some financing option. Over ** percent of new cars had financing, a figure that has remained relatively stable in the past three years. In 2024, the share of used cars acquired with financing was somewhat lower than in 2022. The interest rates for automobile loans in the United States have significantly risen since early 2022, which has increased the burden on borrowers.
The delinquency rate refers to the proportion of loans within a portfolio or market segment that are past due or in default. In 2022, the share of 90+ delinquent auto loans in the United States stood at nearly **** percent. However, the share of auto loan borrowers who had loan payments that were overdue by at least 90 days had risen significantly by 2024.
There are several factors that can influence the likelihood of a certain group having higher delinquency rates, such as financial literacy, income disparities, credit histories, and age. When looking at the delinquency rate by age group in the U.S. in 2023, it could be observed that people aged 18 to 29 had the highest share of car loans that eventually led to serious delinquency. In contrast, people that were over 50 years old had a much lower serious average delinquency rate at less than *** percent that year.
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August 2024
United States
2022 to 2024
Figures as of the second quarter of each year
Market share of leading new leasing vehicle models in the U.S. 2025
Share of all new U.S. vehicles that are leased 2017-2024
Largest mortgage lenders in the UK 2024, by market share of gross lending
SME lending market share of challenger banks in the UK 2019-2024
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Car loans
Payments & maturity
Car leases
Risk and delinquency
Interest rates
Further related statistics
* For commercial use only
Basic Account
Starter Account
The statistic on this page is a Premium Statistic and is included in this account.
Professional Account
1 All prices do not include sales tax. The account requires an annual contract and will renew after one year to the regular list price.
