U.S. Auto Loan Balances Were $1.713 Trillion in the Second Quarter of 2026
The Fact
The Federal Reserve Bank of New York reported auto loan balances of $1.713 trillion in the second quarter of 2026 — more than Americans owed on student loans ($1.651 trillion) or credit cards ($1.263 trillion).
What This Means
Car debt is now larger than student debt.
Why It Matters
When a car costs as much as a down payment once did, the loan follows you for years.
Sources
Federal Reserve Bank of New York. Household Debt and Credit Report, Q2 2026 (press release Aug. 11, 2026). https://www.newyorkfed.org/newsevents/news/research/2026/20260811