Disciplined Consumers Give Boost to Auto Lending

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Market Watch - December 20, 2012

Auto loans orig­i­na­tions con­tinue to rise as con­sumers spend more wisely, accord­ing to Equifax’s lat­est National Con­sumer Credit Trends Report.

Get more facts and fig­ures on auto lend­ing here.

Accord­ing to Equifax’s lat­est National Con­sumer Credit Trends Report, con­sumer credit orig­i­nated year-to-date through Sep­tem­ber 2012 has increased nearly 30% to $675 bil­lion from $523 bil­lion dur­ing the same time­frame in 2010. Com­par­a­tively, credit orig­i­na­tions today are below the 2006–2007 pre-recession lev­els of about $1 tril­lion by about one-third.

Auto Lend­ing

  • Auto loans orig­i­nated year-to-date through Sep­tem­ber 2012 totaled 16.4 mil­lion – an increase of more than 11% from same time a year ago and a five-year high.
  • At more than 58 mil­lion through Novem­ber 2012, the total num­ber of out­stand­ing loans is at its high­est level in 37 months.
  • Sim­i­larly, auto loan bal­ances con­tinue ris­ing – through Novem­ber 2012, bal­ances totaled $775.7 bil­lion, a 45-month high.
  • Auto loan amounts orig­i­nated year-to-date through Sep­tem­ber 2012 ($318.2 bil­lion) are more than 33% higher than the reces­sion low for same time in 2009 ($210.2 billion).
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