A West-Coast Bias on Auto Lending

As the map below demonstrates, western credit unions have a higher auto loan penetration, the percentage of members who have an auto loan, than eastern credit unions. Dividing the states based on which states’ credit unions grant auto loans to more than 14.7% of their members separates the United States almost as decisively as the Mississippi River.

 
 

by Casey Connelly, Financial Analyst, Callahan & Associates

As the map below demonstrates, western credit unions have a higher auto loan penetration, the percentage of members who have an auto loan, than eastern credit unions. Dividing the states based on which states’ credit unions grant auto loans to more than 14.7% of their members separates the United States almost as decisively as the Mississippi River.

Look below to see which five states led the nation in auto loan penetration.

Top 5 States by Auto Loan Penetration
Rank
State
% of Members with an Auto Loan
Auto Loan Balance
Used Loan $/Total Loan $
1
Oregon
20.94%
$10,223
53.13%
2
Utah
19.99%
$10,127
70.26%
3
Arizona
19.15%
$11,741
49.58%
4
Nevada
19.13%
$12,570
57.91%
5
Colorado
18.93%
$11,519
61.29%
 

 

 

Dec. 30, 2002


Comments

 
 
 
  • Much of Utah's sucess can be attributed to the Utah League of Credit Union program that has over 30 lenders and over 200 dealers participating using the DILLS software system.
    Anonymous
     
     
     
  • I will to bet Utah's is in second place due to that fact that we have 21 of the Utah credit unions using our indirect lending software which manages the 176 franchise dealers in the state.
    Anonymous