Customers financed $41,445 on the average new-vehicle loan and $27,768 on the average used vehicle loan during the 4th quarter. Those loans on average had higher interest rates and higher monthly payments than a year earlier. Meanwhile, a larger proportion of customers were behind on their loans. Here are more highlights from Experian.
Market share of total financing
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Total risk distribution
Loan and lease, new and used
| Q4 2018 | |
| Q4 2019 | |
| Q4 2020 | |
| Q4 2021 | |
| Q4 2022 |
Near Subprime
Deep Subprime
Super Prime
30-day delinquency
Percentage of loans delinquent
| Q4 2018 | 2.43% | |
| Q4 2019 | 2.42% | |
| Q4 2020 | 1.81% | |
| Q4 2021 | 1.86% | |
| Q4 2022 | 2.31% |
60-day delinquency
Percentage of loans delinquent
| Q4 2018 | 0.83% | |
| Q4 2019 | 0.83% | |
| Q4 2020 | 0.64% | |
| Q4 2021 | 0.66% | |
| Q4 2022 | 0.87% |
New-vehicle loans
Average amount financed
| Q4 2020 | $35,420 | |
| Q4 2021 | $39,834 | |
| Q4 2022 | $41,445 |
Average loan rate
| Q4 2020 | 4.3% | |
| Q4 2021 | 3.88% | |
| Q4 2022 | 6.07% |
Average monthly payment – lease
| Q4 2020 | $469 | |
| Q4 2021 | $535 | |
| Q4 2022 | $578 |
Average monthly payment – loan
| Q4 2020 | $578 | |
| Q4 2021 | $646 | |
| Q4 2022 | $716 |
Average term – lease (In months)
| Q4 2020 | 36.49 | |
| Q4 2021 | 36.74 | |
| Q4 2022 | 35.42 |
Average term – loan (In months)
| Q4 2020 | 69.63 | |
| Q4 2021 | 69.64 | |
| Q4 2022 | 69.44 |
Used-vehicle loans
Average amount financed
| Q4 2020 | $22,643 | |
| Q4 2021 | $27,390 | |
| Q4 2022 | $27,768 |
Average loan rate
| Q4 2020 | 8.41% | |
| Q4 2021 | 8.22% | |
| Q4 2022 | 10.26% |
Average monthly payment
| Q4 2020 | $417 | |
| Q4 2021 | $490 | |
| Q4 2022 | $526 |
Average term (In months)
| Q4 2020 | 65.66 | |
| Q4 2021 | 67.35 | |
| Q4 2022 | 68.01 |
SOURCE: Experian