The auto finance market continued its slowdown in 2017, new data released today shows.
Yet, despite slipping originations, auto loan and lease outstandings topped $1.1 trillion in 2017 – a record high – according to the annual Big Wheels Auto Finance ranking of car lenders and lessors released today.
Big Wheels Auto Finance has been published annually since 1999.
For the seventh straight year, auto leasing gained popularity, accounting for one of every four vehicles in financiers’ portfolios. Captives — finance companies operated by car manufacturers — racked up most of the leasing gains, as they endeavored to appeal to consumers seeking lower monthly payments.
Banks, as a sector, registered minimal portfolio growth in 2017, losing marketshare to captives and credit unions. In fact, credit union outstandings grew 15% last year, the fastest clip among any institution type.
“Aside from credit unions, financiers have been backpedaling on originations, returning most of the growth recorded in 2016,” said Marcie Belles, Vice President-Auto Finance, Royal Media, and author of the report. “Heading into 2019, we expect the lending environment to weaken as credit performance worsens and profit margins are squeezed.”
Released today, the Big Wheels Auto Finance Data Report is the nation’s only ranking of the Top 100 auto financiers in the United States by originations and outstandings. The Top 5 Companies as ranked in the 2018 report, were:
| Lender | 2018 Rank | 2017 Rank |
| Toyota Financial Services | 1 | 1 |
| Chase Auto | 2 | 3 |
| Ally Financial | 3 | 2 |
| Ford Motor Credit | 4 | 4 |
| GM Financial | 5 | 7 |
Toyota Financial Services maintained the top spot, ending 2017 with $91.4 billion of total loans and leases outstanding and $40.3 billion of originations.
“After years of relative consistency among the nation’s largest financiers, slowing originations will likely force some industry stalwarts out of the Top 10 by yearend,” Belles said.
For the first time, the report includes access to an online data tool, allowing for seamless comparison, analysis, and data export. For an additional fee, users of Big Wheels can purchase access to 10 years of historical data — another first for Big Wheels.
The 2018 Big Wheels Auto Finance Data Report is available at www.BigWheelsData.com.