States Where Auto Loan Debt Is Decreasing the Most; Where Does New York Rank?

With Americans carrying nearly $1.7 trillion in auto loan debt averaging nearly $13,800 per household, the personal finance website WalletHub has released its latest report on the States Where Auto Loan Debt Is Decreasing the Most. Using proprietary consumer debt data, WalletHub ranked the states experiencing the largest decreases in auto loan debt from Q3 2024 to Q4 2024.

New York Stats

• Overall Rank: 12^th
• Change in Average Auto Loan Amount: The average auto loan balance in New York decreased by 0.40% in Q4 2024 compared to Q3 2024.
• Average Auto Loan Amount: The average auto loan balance in New York was $20,862 in Q4 2024.
• Average Monthly Auto Loan Payment: The average monthly payment on an auto loan in New York was $532 in Q4 2024.

For the full report, please visit:
https://wallethub.com/edu/states-where-auto-loan-debt-is-decreasing-most/132953.