With Americans owning nearly $1.6 trillion in auto loan debt (over $13,400 per household), the personal-finance website WalletHub today released its report on the States Where Auto Loan Debt is Increasing the Most. WalletHub ranked the states with the largest auto loan debt increases based on its proprietary data on consumer debt from Q3 2023 to Q4 2023.
Biggest Increase | Smallest Increase | |
1. Wyoming | 41. Ohio | |
2. South Dakota | 42. Nevada | |
3. Texas | 43. Oregon | |
4. Delaware | 44. West Virginia | |
5. Minnesota | 45. Michigan | |
6. North Dakota | 46. Connecticut | |
7. Colorado | 47. Montana | |
8. Florida | 48. Utah | |
9. Alaska | 49. Missouri | |
10. Arizona | 50. Rhode Island |
For the full report, please visit:
https://wallethub.com/edu/states-where-auto-loan-debt-is-increasing-most/132953
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"Wyoming residents have a very high average auto loan balance, at $22,104, and reached that number after increasing their average by nearly 1.9% between Q3 2023 and Q4 2023. Wyoming residents pay out a whopping $543 per month toward their auto loan debt, on average."
- John Kiernan, WalletHub Editor