In the second quarter of 2022, the value of car loans with a credit score of under 620 grew by 0.5 percent. Meanwhile, super-prime auto loans, which have a risk score of over 760, decreased 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 2022, by risk score
Characteristic
<620
620-659
660-719
720-759
760+
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Statista. (August 2, 2022). Year-on-year percentage change of auto loans originated in the United States from 1st quarter 2005 to 2nd quarter 2022, by risk score [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1326290/annual-change-of-car-loans-in-usa-by-risk-score/
Statista. "Year-on-year percentage change of auto loans originated in the United States from 1st quarter 2005 to 2nd quarter 2022, by risk score." Chart. August 2, 2022. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1326290/annual-change-of-car-loans-in-usa-by-risk-score/
Statista. (2022). Year-on-year percentage change of auto loans originated in the United States from 1st quarter 2005 to 2nd quarter 2022, by risk score. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1326290/annual-change-of-car-loans-in-usa-by-risk-score/
Statista. "Year-on-year Percentage Change of Auto Loans Originated in The United States from 1st Quarter 2005 to 2nd Quarter 2022, by Risk Score." Statista, Statista Inc., 2 Aug 2022, https://www.statista.com/statistics/1326290/annual-change-of-car-loans-in-usa-by-risk-score/
Statista, Year-on-year percentage change of auto loans originated in the United States from 1st quarter 2005 to 2nd quarter 2022, by risk score Statista, https://www.statista.com/statistics/1326290/annual-change-of-car-loans-in-usa-by-risk-score/ (last visited July 22, 2024)
Year-on-year percentage change of auto loans originated in the United States from 1st quarter 2005 to 2nd quarter 2022, by risk score [Graph], Statista, August 2, 2022. [Online]. Available: https://www.statista.com/statistics/1326290/annual-change-of-car-loans-in-usa-by-risk-score/