Source: EMARKETER Forecast, December 2022 - October 2023
Note: loans taken out to purchase a car; includes auto bank loans (provided by banking institutions such as banks, credit unions, savings, and loan associations) and auto finance loans (provided by automobile dealers and automobile financing companies)
Methodology: Insider Intelligence benchmarks its auto loan debt balance figures against the Statistics Canada data, for which the last full year measured was 2021. Auto loans are a subset of nonmortgage loans, consumer credit, and personal loans.