Experian analysts report the average U.S. new vehicle loan amount was $41,983 in the second quarter, about $1,000 more than in Q2 2024, with a corresponding monthly payment increase of $14 to $749. Average loan amounts for used vehicles increased by $481 to $26,795 with a slightly higher average monthly payment of $529.

The credit bureau’s Q2 State of the Automotive Finance Market Report finds 30- and 60-day delinquencies stable at 2.27% and 0.83%, respectively. The percentage of vehicles financed fell by 2.3% to 80.3% for new units and was down 9.6% to 23.6% for used.

In a release, Head of Automotive Financial Insights Melinda Zabritski says action churns beneath the surface of an apparently calm market: Banks have retaken the largest share of all auto finance transactions at 27.5%, followed by captives (26.6%) and credit unions (21%). Captives remain No. 1 in new vehicle financing at 52.4%.

“The shift in lender market share highlights an increasingly competitive landscape for automotive financing,” Zabritski writes. “With banks showing a renewed focus in automotive combined with new OEM relationships, we’re seeing a completely different environment. In an ever-evolving industry, leveraging the most current data can help automotive professionals identify emerging patterns and adapt to changing dynamics.”

Read more at Experian