Growth rate of car loans in the U.S. Q1 2005-Q2 2024, by risk score

Published by
Fernando de Querol Cumbrera,
Sep 11, 2024

In the second quarter of 2024, the value of car loans with a credit score of under 620 grew were 0.55 percent higher than in the same quarter of the previous year. Meanwhile, super-prime auto loans, which have a risk score of over 760, rose by 2.8 percent in that same period. Riskier loans tend to fluctuate more than the ones with a higher credit score. Therefore, car loans with a credit score under 620 points had a stronger decline than super prime loans in the economic crisis of 2007 and during the first year of the COVID-19 pandemic.

Year-on-year percentage change of auto loans originated in the United States from 1st quarter 2005 to 2nd quarter 2024, by risk score

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Release date

September 2024

Region

United States

Survey time period

Q1 2005 to Q2 2024

Supplementary notes

Year-on-year growth rates calculated by Statista using the data from the source, page 8.

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