• 28.10 million auto loans and leases, totaling $611.3 billion, were originated January-December 2017, representing a 3.5% decrease in total new accounts, and a 1.1% decline in balances over the prior year, reflecting a market shift from new to used cars.
• January through December 2017, 9.2% of auto leases were issued to consumers with a subprime credit score, the smallest subprime share since 2011.
• The severe delinquency rate (share of balances 60+ days past due) on auto loans and leases in February 2018 is 1.13%, up only slightly from 1.08% in February 2017. Auto write-offs are at 24.5 bps, which is down from 24.9 bps a year ago.

“Consumers benefit from these trends as well,” said Gunnar Blix, Deputy Chief Economist for Equifax. “Understanding how auto markets are shifting and learning which credit markets have favorable terms can help them make more informed personal decisions.”

Media Contact:

John Sternal

Merit Mile for Equifax Automotive

954-592-1201