Subprime Auto Loan Delinquencies Hit an All-Time High Nationwide but Oregon Borrowers Are Still Keeping Up

As the 60+ day delinquency rate on US subprime auto loans soars to a record 6.9% amid surging vehicle prices and a record $1.67 trillion in auto debt, Oregon is bucking the trend as one of the lowest-delinquency states for subprime, higher-risk auto loans.

Tidings Data Snapshot
Record Stress in Subprime Auto Loans
6.90%
Subprime borrowers 60 plus days behind : latest reading
6.65%
Subprime borrowers 60 plus days behind : Oct 2025
0.37%
Prime borrowers 60 plus days behind : Oct 2025
$1.67T
US auto loan balance : Q4 2025

Source: Fitch Auto ABS Indices via TradingEconomics / Reuters / Federal Reserve Bank of New York Household Debt and Credit Q4 2025
Dailytidings.com

 

Record Number Of Sub-Prime Auto Loans Are Falling Into Delinquency

Serious delinquency rates have more than doubled since 2021, exceeding the 1996 peak by 0.9 percentage points. By comparison, the 2008 Financial Crisis high was 5.0%.

The news agency Reuters reported that the number of subprime borrowers who are at least 60 days behind on their auto loans rose to 6.65% in October last year.

This is the highest level since the record started in the early 1990s, according to Fitch Ratings data.

Subprime financing- lending to consumers with lower credit scores or limited credit histories considered higher risk and typically charged higher interest rates to offset the increased likelihood of default- makes up $234 billion of all auto loans.

This category of loans has risen by $312 billion over the last five years, to a record $1.67 trillion. At the same time, Americans are falling behind on their car debt at a record pace.

A more recent report shows that, according to Fitch Ratings, subprime auto loans that have been delinquent for at least 60 days reached 6.74% in December 2025, after the number of subprime borrowers at least 60 days behind on their auto loans rose to 6.65% in October, which was already the highest level on record. For prime borrowers, the rate held steady at 0.37%.

 

Oregon Ranks As One Of The Lowest-Delinquency States For Subprime Auto Loans

In a recent analysis of credit-report data, Oregon came in as one of the states with the lowest delinquency levels for subprime auto loans, suggesting that the increasing subprime blowup is not hitting every state evenly.

Tidings Data Snapshot
Oregon vs US Auto Loan Delinquency
Share of borrowers with at least 1 delinquent auto loan account : Q1 2025
Mississippi : 9.8%
Louisiana : 8.4%
US average : 5.1%
Oregon : 3.5%

Source: LendingTree analysis using TransUnion credit report data : Q1 2025
Dailytidings.com

According to the analysis, in Oregon as of the first quarter of 2025, 5.1% of those with auto loans were delinquent, as compared with the national rate of 6.65% for December 2025.

In the state, 3.5% of auto loan borrowers reported having at least 1 delinquent account, putting Oregon among the lowest states listed. While many Americans are falling behind on their car debt, this is one of the sectors where Oregonians are staying ahead of the curve.

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