Auto loans have become the riskiest consumer credit products:
US auto loan delinquencies 60 days or more past due have surged 51.5% since Q1 2010.
During the same period, delinquencies on credit cards, personal loans, and most other forms of consumer credit have declined.
As of July 2025, 1.6% of total auto loans were 60 days past due, higher than both credit card and mortgage delinquencies.
This surge has been driven by record car prices and elevated interest rates, with new vehicles now averaging over $50,000 and loan rates above 9%.
Currently, 1 in 5 car loan borrowers pay more than $1,000/month.
The auto affordability crisis is worsening.