Auto loan balances increased for the 18th straight quarter, this time by $ 39 billion, and stand at $ 1.05 trillion as of the end of September.
Not exact matches
Every type of debt
increased since the previous quarter, with a 1.6 %
increase in mortgage debt, 1.9 %
increase in
auto loan balances, a 4.3 %
increase in credit card
balances, and a 2.4 % percent
increase in student
loan balances.
NEW YORK —
Auto loan originations are at the highest level in eight years and auto loan balances, which include leases, have increased for the 13th consecutive quarter, according to the Federal Reserve Bank of New York's Q2 2014 Household Debt and Credit rep
Auto loan originations are at the highest level in eight years and
auto loan balances, which include leases, have increased for the 13th consecutive quarter, according to the Federal Reserve Bank of New York's Q2 2014 Household Debt and Credit rep
auto loan balances, which include leases, have
increased for the 13th consecutive quarter, according to the Federal Reserve Bank of New York's Q2 2014 Household Debt and Credit report.
Non-housing related debt
increased 1.9 percent boosted by gains in
auto loans ($ 30 billion), credit card
balances ($ 10 billion) and student
loans ($ 7 billion).
There were modest
increases in mortgage,
auto and credit card debt (
increasing by 0.7 %, 2 % and 2.6 % respectively), no change to student
loan debt and a modest decline in
balances on home equity lines of credit (decreasing by 0.9 %).
Auto loan balances continued their steady rise seen since 2011, with an increase in auto loan originati
Auto loan balances continued their steady rise seen since 2011, with an
increase in
auto loan originati
auto loan originations.
Mortgage
balances, the biggest part of household debt,
increased by $ 56 billion amid fewer foreclosures, while Americans bumped up their
auto -
loan balances by $ 31 billion.
Much of the
increase in total
auto loan balances came from an
increase in prime
auto loans, even as subprime
auto loans declined.
Group II — insurance coverage, i.e., medical,
auto, life, renter's insurance (not payroll deducted); payment to child care providers — made to a business providing such services; school tuition; retail stores — department, furniture, appliance stores, specialty stores; rent to own — i.e., furniture, appliances; payment of that part of medical bills not covered by insurance; Internet / cell phone services; a documented 12 month history of saving by regular deposits (at least quarterly / non-payroll deducted / no NSF checks reflected), resulting in an
increasing balance to the account; automobile leases, or a personal
loan from an individual with repayment terms in writing and supported by cancelled checks to document the payments.
According to the Federal Reserve, the average
auto loan balance in 2015 is $ 4,070, a 9 %
increase over 2014 and 38 %
increase in just five years.
The flow into 90 + days delinquency for credit card
balances has been
increasing notably from the last year and the flow into 90 + days delinquency for
auto loan balances has been slowly
increasing since 2012.
Nonmortgage credit
balances —
auto loans and cards issued by retailers and banks — totaled $ 3.1 trillion in November, with each sector showing year - over-year
balance increases as well.
While paying off installment
loans, like mortgage,
auto, student, etc. can help
increase your score, minimizing
balances on revolving accounts like credit cards will
increase it faster.