Average Amount Financed for Used Car Loans at Finance Companies
This dataset tracks average amount financed for used car loans at finance companies over time.
Latest Value
23431.56
Year-over-Year Change
-5.61%
Date Range
3/1/2008 - 3/1/2025
Summary
The Average Amount Financed for Used Car Loans at Finance Companies tracks the average dollar amount borrowed by consumers to purchase used vehicles from finance companies. This metric provides insight into consumer borrowing patterns and the used car financing market.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic trend represents the average loan amount for used car purchases at finance companies, which are institutions that provide auto financing separate from traditional banks or dealerships. The data can be used to analyze changes in consumer demand, credit access, and affordability in the used vehicle market.
Methodology
The data is collected through surveys of finance companies by the Federal Reserve.
Historical Context
Policymakers and analysts monitor this trend to assess consumer credit conditions and the health of the automotive industry.
Key Facts
- The average used car loan amount has increased by over 40% since 2010.
- Finance companies account for nearly one-third of used vehicle financing.
- Loan amounts tend to rise during periods of economic expansion.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average dollar amount borrowed by consumers to purchase used vehicles from finance companies, which are institutions that provide auto financing separately from banks or dealerships.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into consumer borrowing patterns and the overall health of the used car financing market, which is relevant for understanding consumer demand, credit access, and affordability in the automotive industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of finance companies by the Federal Reserve.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess consumer credit conditions and the health of the automotive industry, which can inform policies and regulations related to consumer lending and the car market.
Q: Are there update delays or limitations?
A: The data is published monthly by the Federal Reserve with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Average Amount Financed for Used Car Loans at Finance Companies (DTCTLVEUANM), retrieved from FRED.