Auto loans are a growing burden on the American pocketbook. Drivers owed a record high of $839 billion on their vehicles in the second quarter of 2014, according to Experian. A Bankrate analysis of government data shows that the amount of auto debt on a per capita basis has increased over the years as well.

Compare Best Auto Loan Rates!

The table below represents auto debt from 1999 to 2012 in every state, the District of Columbia and Puerto Rico. It uses the most recent statistics on auto loans available from the Federal Reserve Bank of New York.

The Fed, which collects this data during its annual Consumer Credit Panel survey, partnered with the credit reporting bureau Equifax to measure individual and household debt. The Fed’s survey represents a sample of 5 percent of all Americans who have a Social Security number and credit report.

The auto debt per capita in each state was calculated by dividing the total auto debt balance of the sample used for the survey by the number of consumers in the sample. Random and anonymous participants were selected by the Fed to include residents with Social Security numbers and credit reports at the time of the survey.

In the table below, you will find the per capita auto loan amount in the fourth quarter of 1999 adjusted for inflation and for the same period of 2012, as well as the percentage change during the period.

Auto loans per capita by state

State Auto debt per capita Q4 1999* Auto debt per capita Q4 2012 Change

1999 to 2012

(%)

Mississippi $1,830 $3,370 84
Hawaii $1,450 $2,510 73
North Dakota $2,030 $3,470 71
West Virginia $2,150 $3,670 71
Nebraska $1,850 $3,080 66
Oklahoma $2,410 $3,980 65
Iowa $1,970 $3,150 60
South Dakota $2,150 $3,420 59
Wisconsin $1,560 $2,470 58
Louisiana $2,600 $4,030 55
New York $1,850 $2,870 55
Wyoming $2,850 $4,350 53
Kentucky $1,890 $2,870 52
Alaska $2,760 $4,140 50
Arizona $2,410 $3,540 47
Alabama $2,380 $3,480 46
Montana $2,050 $3,000 46
New Hampshire $2,560 $3,740 46
Kansas $2,140 $3,110 45
Ohio $2,190 $3,110 42
Vermont $2,600 $3,680 42
New Mexico $2,840 $3,990 40
Utah $2,590 $3,600 39
Virginia $2,550 $3,540 39
Pennsylvania $2,230 $3,080 38
Colorado $2,490 $3,390 36
New Jersey $2,330 $3,180 36
Florida $2,550 $3,370 32
Indiana $2,330 $3,020 30
North Carolina $2,730 $3,520 29
Puerto Rico $2,200 $2,840 29
Illinois $2,370 $3,010 27
South Carolina $2,510 $3,180 27
Nevada $2,780 $3,490 26
Texas $3,830 $4,790 25
California $2,370 $2,950 24
Tennessee $2,550 $3,110 22
Connecticut $2,300 $2,770 20
Arkansas $3,090 $3,640 18
Massachusetts $2,340 $2,750 18
Delaware $2,930 $3,420 17
Georgia $2,960 $3,470 17
Minnesota $2,300 $2,700 17
District of Columbia $1,970 $2,280 16
Maryland $3,270 $3,750 15
Maine $2,780 $3,110 12
Missouri $2,670 $2,980 12
Washington $2,630 $2,940 12
Idaho $2,620 $2,840 8
Oregon $2,410 $2,480 3
Rhode Island $2,670 $2,580 -3
Michigan $3,290 $2,880 -12

*Adjusted for inflation

Source: The Federal Reserve Bank of New York.



More On Auto Loans:

Promoted Stories