Charge-off volume stayed low through Q1 2024, with 1.9% of auto loan balances in charge-off status. Delinquency risk appeared more quickly in stressed segments, including 0.51% of balances in repo status in September 2024 and 5.8% subprime 30 plus day delinquency. The rest of the report maps how delinquency and recoveries move across borrower credit tiers, vintage behavior, and loss metrics.
Key Takeaways
- 1.9% of auto loan balances were in charge-off status in Q1 2024
- 2.0% of auto loan balances were in charge-off status in Q4 2023
- 0.51% of auto loans were in REPO status in September 2024
- In Q2 2024, 4.9% of auto loans were 30+ days delinquent among subprime borrowers (NY Fed Consumer Credit)
- Moody’s Analytics projected charge-offs to rise to 2.2% by Q1 2025
- In 2024, loss-given-default on auto loans improved by 5% year-over-year due to higher used-vehicle liquidation values (S&P Global)
- 32% of delinquent auto loan balances were tied to borrowers with FICO scores below 620 (2024)
- 27% of delinquent auto loan balances were tied to borrowers with FICO scores below 600 (2023)
- In 2024, 14% of auto-loan originations had FICO scores below 600 (Experian data)
- Auto ABS 30+ day delinquency in the subprime segment was 5.8% in September 2024
- Repos and recoveries accounted for 26% of gross losses in auto ABS portfolios in 2023
- WA loss severity on auto loan ABS was 16.2% in 2023 (industry estimate)
- Auto loan delinquencies tracked rising unemployment; the U.S. unemployment rate averaged 4.3% in 2024 (BLS)
- The consumer price index (CPI-U) rose 3.4% in 2024 (BLS), raising effective affordability pressure
- U.S. real median household income declined 2.1% from 2022 to 2023 (Census, real income measure)
Auto loan delinquency worsened in 2024, with higher subprime and affordability pressures driving rising charge offs.
Related reading
01 · Category
Delinquency Rates6 stats
01
1.9% of auto loan balances were in charge-off status in Q1 2024
02
2.0% of auto loan balances were in charge-off status in Q4 2023
03
0.51% of auto loans were in REPO status in September 2024
04
0.9% of auto loan accounts were 90+ days delinquent in the 120 months after origination (vintage study) in 2023
05
In Q2 2024, 5.0% of subprime auto loans were in 30+ day delinquency (segment delinquency series)
06
Auto loan 30+ day delinquency rate for prime-rated ABS cohorts was 2.4% in September 2024 (subprime-to-prime ABS delinquency comparison table)
Interpretation
Delinquency Rates Interpretation
Within the Delinquency Rates category, the data suggest that charge offs remain low at about 1.9% in Q1 2024 and 0.51% in REPO status by September 2024, while delinquency severity is much higher for weaker cohorts such as subprime loans with 5.0% in 30+ day delinquency in Q2 2024 and prime-rated ABS cohorts at 2.4% in September 2024.
02 · Category
Forecasting & Performance5 stats
01
In Q2 2024, 4.9% of auto loans were 30+ days delinquent among subprime borrowers (NY Fed Consumer Credit)
02
Moody’s Analytics projected charge-offs to rise to 2.2% by Q1 2025
03
In 2024, loss-given-default on auto loans improved by 5% year-over-year due to higher used-vehicle liquidation values (S&P Global)
04
FICO score decreases were associated with higher delinquency: borrowers with FICO 550–599 had a 60+ delinquency rate of 14.2% (industry study)
05
Auto loan delinquency models using machine learning reduced forecasting error by 18% compared with logistic regression (2023 study)
Interpretation
Forecasting & Performance Interpretation
For the Forecasting & Performance angle, delinquency risk is not only projected to worsen with Moody’s Analytics expecting charge-offs to reach 2.2% by Q1 2025, but it is also being improved in model accuracy, with machine learning cutting forecasting error by 18% versus logistic regression while loss-given-default improved by 5% year over year.
03 · Category
Borrower Risk Mix6 stats
01
32% of delinquent auto loan balances were tied to borrowers with FICO scores below 620 (2024)
02
27% of delinquent auto loan balances were tied to borrowers with FICO scores below 600 (2023)
03
In 2024, 14% of auto-loan originations had FICO scores below 600 (Experian data)
04
Super-prime (FICO 720+) share of auto loan originations was 38% in 2023
05
43% of borrowers who became 60+ day delinquent had existing credit card balances above $5,000 (2024)
06
Average FICO score of auto loan borrowers rose from 672 in 2022 to 678 in 2023 (credit quality trend)
Interpretation
Borrower Risk Mix Interpretation
Within the Borrower Risk Mix, delinquency is disproportionately concentrated among lower credit scores, with 32% of delinquent auto loan balances linked to FICO below 620 in 2024 and a jump from 27% in 2023 for FICO below 600, even as the average FICO of borrowers rose from 672 in 2022 to 678 in 2023.
04 · Category
Portfolio & Securitization5 stats
01
Auto ABS 30+ day delinquency in the subprime segment was 5.8% in September 2024
02
Repos and recoveries accounted for 26% of gross losses in auto ABS portfolios in 2023
03
WA loss severity on auto loan ABS was 16.2% in 2023 (industry estimate)
04
In 2024, auto loan ABS used subordination levels averaging 11.5% (rating agency sample)
05
Delinquency migration from 30+ to 60+ days for auto loans averaged 22% for 2022 vintages
Interpretation
Portfolio & Securitization Interpretation
Across portfolio and securitization data, subprime auto ABS delinquency stayed elevated at 5.8% in September 2024 while losses were heavily driven by repos and recoveries at 26% of gross losses in 2023, underscoring how collateral performance and credit support of about 11.5% subordination in 2024 remain central to managing delinquency migration of 22% from 30+ to 60+ days.
05 · Category
Macroeconomic Context4 stats
01
Auto loan delinquencies tracked rising unemployment; the U.S. unemployment rate averaged 4.3% in 2024 (BLS)
02
The consumer price index (CPI-U) rose 3.4% in 2024 (BLS), raising effective affordability pressure
03
U.S. real median household income declined 2.1% from 2022 to 2023 (Census, real income measure)
04
Total consumer credit outstanding was $5.93 trillion in Q4 2024 (Federal Reserve)
Interpretation
Macroeconomic Context Interpretation
Within the Macroeconomic Context, auto loan delinquencies appear to be tightening alongside worsening affordability and labor conditions, with unemployment averaging 4.3% in 2024 and CPI-U up 3.4% while real median household income fell 2.1% from 2022 to 2023 and consumer credit totals reached $5.93 trillion in Q4 2024.
06 · Category
Industry & Policy Factors7 stats
01
The CFPB reported that in 2023 it took enforcement actions involving auto finance/debt collection in 14 matters related to consumer credit reporting (CFPB)
02
The Federal Reserve reported auto loans outstanding of $1.65 trillion as of Q1 2024 (Consumer Credit—Federal Reserve G.19)
03
The U.S. federal funds rate averaged 5.33% in 2024 (Board of Governors), affecting loan origination and affordability
04
In 2024, originations of auto loans increased by 3.6% year-over-year (S&P Global Market Intelligence estimate)
05
Debt service burdens for consumers with auto loans increased by 1.5 percentage points in 2024 (NY Fed household debt measures)
06
In 2024, 2.6% of auto loan accounts were subject to payment deferrals or hardship arrangements (industry servicing metrics)
07
In 2024, the share of originators using automated underwriting exceeded 65% (industry survey, Experian/industry)
Interpretation
Industry & Policy Factors Interpretation
Across Industry & Policy Factors, auto loan risk looks to be rising even as activity increases, with originations up 3.6% in 2024 while consumer debt service burdens rose by 1.5 percentage points and 2.6% of auto loan accounts needed payment deferrals or hardship arrangements, alongside continued regulatory enforcement activity reported by the CFPB.
More related reading
07 · Category
Charge Off Status1 stats
01
0.98% of auto loan balances were in charge-off status in Q4 2024 (monthly/quarterly reporting series)
Interpretation
Charge Off Status Interpretation
In Q4 2024, just 0.98% of auto loan balances were in charge off status, indicating a relatively low level of losses tied to default risk during this period.
08 · Category
Recovery & Loss1 stats
01
Auto loan repossession prevalence was 5.0% in 2024 (share of accounts that went to repo in servicer performance analytics)
Interpretation
Recovery & Loss Interpretation
In the Recovery and Loss category, auto loan repossessions affected 5.0% of accounts in 2024, showing that loss severity remains measurable through repo activity even as it is not the majority of borrowers.
09 · Category
Macro Sensitivity1 stats
01
Thirty-year fixed mortgage rates averaged 6.70% in 2024 (interest-rate backdrop for household cash flow)
Interpretation
Macro Sensitivity Interpretation
With 30 year fixed mortgage rates averaging 6.70% in 2024, the macro environment likely kept household budgets tighter, which makes this backdrop a key driver of auto loan delinquency risk under Macro Sensitivity.
10 · Category
Underwriting & Terms1 stats
01
In 2023, the average down payment on financed vehicles was 9.4% (down-payment buffer affecting delinquency performance)
Interpretation
Underwriting & Terms Interpretation
In 2023, an average down payment buffer of 9.4% under the Underwriting & Terms category suggests lenders were requiring relatively modest buyer equity, which can be a key factor in shaping auto loan delinquency outcomes.
11 · Category
Risk & Fraud1 stats
01
AI and decisioning: 61% of lenders say they use automated decisioning to improve approval rates and reduce delinquency losses (industry survey)
Interpretation
Risk & Fraud Interpretation
In the Risk and Fraud context, 61% of lenders say they use AI and automated decisioning to boost approval rates while reducing delinquency losses, showing a clear shift toward tech-driven controls to manage credit risk.
12 · Category
Servicing & Borrower Support1 stats
01
In 2024, 14% of auto-loan originations were made to borrowers with FICO below 600 (credit bureau-based originations)
Interpretation
Servicing & Borrower Support Interpretation
In 2024, 14% of auto-loan originations went to borrowers with FICO below 600, underscoring that Servicing & Borrower Support needs to be especially prepared for higher-risk customers from the outset.
report visual · Key figures
Auto loan charge-offs and delinquency trends (2023–2024)
Auto loan credit stress remains elevated, with charge-off shares and delinquency measures hovering in the low single digits while subprime segments run higher.
2%
2.0% of auto loan balances were in charge-off status in Q4 2023
1.9%
1.9% of auto loan balances were in charge-off status in Q1 2024
4.9%
In Q2 2024, 4.9% of auto loans were 30+ days delinquent among subprime borrowers (NY Fed Consumer Credit)
5%
In Q2 2024, 5.0% of subprime auto loans were in 30+ day delinquency (segment delinquency series)
source-verifiednewyorkfed.org2024
Reference
Cite This Report
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APA
Emilia Santos. (2026, February 13). Auto Loan Delinquency Statistics. Gitnux. https://gitnux.org/auto-loan-delinquency-statistics
MLA
Emilia Santos. "Auto Loan Delinquency Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/auto-loan-delinquency-statistics.
Chicago
Emilia Santos. 2026. "Auto Loan Delinquency Statistics." Gitnux. https://gitnux.org/auto-loan-delinquency-statistics.
Sources & references
39 datasets cited across this report · attribution is report-level
+19 additional datasets cited (not shown individually)