What does this cost in your state?
California is the costliest state and Arkansas the cheapest; each square shows that state's midpoint of the estimate.
Lower-cost states ($465)MiddleHigher-cost states ($592)
What it shows: CA is the highest at $592 and AR the lowest at $465, across 51 states.
How big is the car-loan market behind my rate?
Consumer motor vehicle loans and leases were about $950 billion in 2021, over 50% of the $1.8 trillion that U.S. finance companies held, which had grown 41% since 2015 (Federal Reserve Survey of Finance Companies, national).
| Measure | Value |
|---|---|
| Consumer motor vehicle loans and leases, 2021 | about $950 billion |
| Finance company receivables, 2021 | $1.8 trillion |
| Growth 2015 to 2021 | 41% |
| Receivables in 2015 | $1.3 trillion |
| Share of all finance company receivables | over 50% |
How many borrowers fall behind on car loans?
Auto loans 2026 Q2: 5.5%; All debt: 3.3%.
- Auto loans
- All debt
What it shows: Auto loans goes from 3.4% in 2015 Q2 to 5.5% in 2026 Q2; All debt goes from 4% in 2015 Q2 to 3.3% in 2026 Q2.
Once the contract is signed, a bad rate rarely gets fixed. Of 17,397 CFPB complaints about getting a car loan and its interest rate, only 5.9% ended with relief for the borrower. Before you sign, check that the APR on the contract matches the rate you were quoted.
What borrowers reported to the CFPB about getting a car loan and its interest rate
Lenders named most (25)
| Lender | Complaints | Share |
|---|---|---|
| Credit Acceptance Corporation | 1,110 | 6% |
| Capital One Financial Corporation | 1,020 | 6% |
| Ally Financial Inc. | 982 | 6% |
| Santander Holdings USA, Inc. | 820 | 5% |
| Westlake Services, LLC | 789 | 5% |
| Santander Consumer USA Holdings Inc. | 777 | 4% |
| Wells Fargo & Company | 727 | 4% |
| Navy Federal Credit Union | 611 | 4% |
| Exeter Finance, LLC | 577 | 3% |
| Toyota Motor Credit Corporation | 520 | 3% |
| Carvana Group, LLC | 396 | 2% |
| General Motors Financial Company, Inc. | 390 | 2% |
| Bridgecrest Acceptance Corporation | 384 | 2% |
| Bank Of America, National Association | 383 | 2% |
| JPMorgan Chase & Co. | 365 | 2% |
| Hyundai Capital America | 333 | 2% |
| American Credit Acceptance, LLC | 299 | 2% |
| American Honda Finance Corp | 278 | 2% |
| Truist Financial Corporation | 262 | 2% |
| Nissan Motor Acceptance Company LLC | 254 | 1% |
| Global Lending Services LLC | 249 | 1% |
| Carmax, Inc. | 239 | 1% |
| Mercedes Benz Financial Services | 232 | 1% |
| Experian Information Solutions Inc. | 224 | 1% |
| Transunion Intermediate Holdings, Inc. | 212 | 1% |
Full dataset: complaints by year and by state
Complaints by year received
Complaints by state
| State | Complaints |
|---|---|
| FL | 1,831 |
| CA | 1,822 |
| TX | 1,702 |
| GA | 1,416 |
| NY | 914 |
| IL | 738 |
| PA | 622 |
| NC | 582 |
| NJ | 582 |
| OH | 520 |
| MD | 516 |
| MI | 502 |
| VA | 478 |
| LA | 434 |
| TN | 375 |
Source: CFPB Consumer Complaint Database (full file), product "Vehicle loan or lease", data through 2026-09-24. Complaints are not a random sample and are not adjusted for each lender's size; a complaint count is not a measure of how a lender treats most customers.
What banks charge for a new-car loan: Federal Reserve rates since 2015
Worked example: this calculator's default: $30,000 price, 10% down, 60-month term
| This page's loan | At 5.05% (2021) vs 7.14% (2026) |
|---|---|
| Monthly payment on $27,000 over 60 months | $510 vs $536 $26 more a month |
| Total interest over the loan | $3,609 vs $5,185 $1,577 more over the loan |
Other loan terms the Fed publishes (latest vs five years earlier)
| Series | Latest | Five years earlier |
|---|---|---|
| New-car loan rate, 48 months, commercial banks | 7.47% (2026-05-31) | 5.28% (2021-05-31) |
| New-car loan rate, 72 months, commercial banks | 6.97% (2026-05-31) | 4.77% (2021-05-31) |
| New-car loan rate, finance companies | 6.31% (2026-06-30) | 4.86% (2021-06-30) |
| Average maturity, new-car loans, finance companies | 66.8 mo (2026-06-30) | 67.4 mo (2021-06-30) |
| Average amount financed, new-car loans, finance companies | $41,705 (2026-06-30) | $33,915 (2021-06-30) |
Source: Federal Reserve G.19 Consumer Credit, Terms of Credit (data download), not seasonally adjusted, retrieved 2026-09-26. Payments are our calculation with the standard amortization formula, payment = P × r ÷ (1 − (1 + r)^−n), r = rate ÷ 12. Bank averages are not a quote; your rate depends on credit score, lender and the car.
Car financing's top complaint is the interest rate itself: 3,490 borrowers reported rate problems
Borrowers filed more CFPB complaints about the interest rate than about anything else, including credit denials, misleading ads and add-on products. Problems with the rate made up 20% of the 17,397 complaints for this product.
A one-point change in APR shows up across every month of the loan. The calculator's default run finances a $30k car at 7.0% APR for 60 months and produces $5,078 in interest. Before you sign, run the APR printed on your contract through the calculator. If the monthly payment doesn't match, the rate or the amount financed has changed since you were quoted.
Car financing fraud: 3,073 fraudulent-loan complaints and 2,191 loans opened without consent
Two of the top four complaint types have nothing to do with the price of the loan. Borrowers reported loans taken out in their name. Fraudulent loans made up 18% of complaints, and loans opened without the borrower's consent or knowledge made up another 13%.
Two credit bureaus appear on the list of companies named in complaints: Experian Information Solutions with 224 and TransUnion with 212. Some borrowers found the problem on their credit file, not on a bill. If you applied for financing and didn't buy, check whether a loan was opened anyway.
Car financing complaints climbed to 3,482 in 2025, up from 863 in 2018
Complaints then rose to 1,301 in 2021, 1,883 in 2022 and 2,845 in 2023. They dipped to 2,413 in 2024 and hit a new high of 3,482 in 2025.
By September 24, 2026 had already reached 2,274. This data counts complaints only. It doesn't show whether financing problems are becoming more common or whether more borrowers now know they can file with the CFPB.
Car financing complaints concentrate in Florida, California and Texas, with Georgia close behind
Florida borrowers filed the most complaints with 1,831, followed by California with 1,822 and Texas with 1,702. Georgia had 1,416, well ahead of New York's 914 even though New York has more residents.
These counts are not adjusted for population or loan volume. Georgia's position near the top still stands out, so borrowers there should read the final contract with particular care.
Car financing at the signing table: 762 high-pressure complaints and 729 paperwork complaints
Borrowers reported 762 complaints about high-pressure sales tactics and 729 about problems signing the paperwork. That makes 4% of complaints for each. Another 98 borrowers said they never received the car title.
These problems happen when you're least able to check the numbers. Run the calculator on the exact price, down payment, APR and term before you sit down, and compare the result with the payment on the contract you're handed.
Frequently asked questions
How much is car financing?
The interest rate is the top complaint in car financing: 3,490 borrowers reported rate problems, 20% of 17,397 CFPB complaints.
Sources
Data shown on this page
- CalcScrape calculator model scaled by BEA Regional Price Parities data from 2024
- Federal Reserve Board, Survey of Finance Companies 2020-21 file downloaded survey of 2021, published January 2025
- Federal Reserve Bank of New York, Household Debt and Credit Report file downloaded 2026 Q2
Terms: US government data, public domain; Federal Reserve Board data, cite the source; Federal Reserve Bank of New York, cite the source.
Modeled: our estimate, not a quote. Reported: figures as reported by the publisher, not independently verified. Observed: records as filed; owner reports are unverified and are not failure rates.
What is our own estimate
The price range comes from our calculator's formula. Its parts prices, labor hours per job and shop-rate tiers are CalcScrape estimates, not a published price dataset. Methodology