F&I

Auto debt nears $1.7 trillion as late payments ease

Outstanding U.S. auto debt reached about $1.7 trillion, up 3.3% from a year earlier, while the share of accounts 60-plus days late fell to 1.7%. First-half originations dipped 1.9% to 12.8 million loans even as balances originated rose 3.5% to $401.1 billion, and credit unions grew balances 7.0% while captives slipped 1.7%, per Equifax (October report, August data). The Q4 2025 loan cohort is running slightly worse than Q4 2024 six months in. Lower overall late payments do not remove the risk showing up in the newer loan cohort.

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