As of Feb. 2024, total U.S. consumer debt was $17.37 trillion, up 2.8% from February 2023 and outstanding balances on auto loans and leases also increased.

Outstanding balances on auto loans and leases have increased 3.1% from February 2023, to $1.633 trillion.

Auto Loans and Leases Observations: 

• Total outstanding balances on auto loans and leases increased 3.1% year-over-year to $1.633 trillion. 
• The number of outstanding accounts stands at 86.6 million, which is comparable to February 2023 levels. 
• The severe balance delinquency (60+ days past due) rate in February 2024 was 1.61%, which is 17 basis points higher than February 2023.