After years of growth, auto loan balance at banks drops

In the third quarter, captive finance arms increased their auto loan balances by 2.7 percent, while finance company balances expanded by 5 percent. (DAVID PHILLIPS)

December 12, 2018 05:00 AM

After at least six years of steady growth, auto loan balances at banks fell in the third quarter compared with the same period a year ago as credit union loan balances continued to grow, according to Experian.

Featured Stories

Automakers alter production plans and vehicle pricing as auto tariffs take effect

Honda’s No. 2 exec, Shinji Aoyama, abruptly resigns amid allegations of inappropriate conduct

As tariffs upend auto industry, Ford and Stellantis turn to tried-and-true employee discounts

GM CEO Mary Barra, Hyundai Executive Chair Euisun Chung to keynote Automotive News Congress Sept. 11

Latest News

CATL in talks to buy controlling stake in Nio’s power unit, sources say

Republican attack on California waiver hits procedural roadblock

Canadian auto fallout: Which vehicles and parts face U.S. tariffs or Canadians countertariffs?

Peter Navarro takes issue with Elon Musk’ remarks about tariffs

Staying current is easy with newsletters delivered straight to your inbox.

See More in Finance Insurance

Tesla Model Y, Model 3 still top popular EVs but Cybertruck slips

F&I managers should pitch every product

Asbury: FTC lacks quorum to operate after Trump fires 2 commissioners

Trump pushes for auto loan interest deductions for U.S.-made models

Staying current is easy with newsletters delivered straight to your inbox.