You are using an older browser version. Please use a supported version for the best MSN experience.

Cities where millennials owe the most & least on their vehicles

Mediafeed Logo By Jenn Jones of Mediafeed | Slide 1 of 13: The stereotypical millennial eats avocado toast and complains about student loans, but a recent LendingTree study found auto loans are significant debt drivers, too. In fact, auto loans make up the second biggest share of millennial non-mortgage debt, according to a study on places where millennials carry the most debt. Our researchers next concentrated on that car debt, analyzing anonymous credit report data from My LendingTree users born between 1981 and 1996 and living in the 100 largest metros in the United States. The results, ranked by median balance, show where millennials are the most and least burdened by auto debt. Meanwhile, average loan terms, car prices and interest rates have been rising. If millennials, the soon-to-be largest generation, put off their next car purchase as a result of these things, it could mean a market shift. Here are the places where millennials owe the most and the least on their vehicles.

Auto loans are a big part of millennial debt

The stereotypical millennial eats avocado toast and complains about student loans, but a recent LendingTree study found auto loans are significant debt drivers, too.

In fact, auto loans make up the second biggest share of millennial non-mortgage debt, according to a study on places where millennials carry the most debt. Our researchers next concentrated on that car debt, analyzing anonymous credit report data from My LendingTree users born between 1981 and 1996 and living in the 100 largest metros in the United States.

The results, ranked by median balance, show where millennials are the most and least burdened by auto debt. Meanwhile, average loan terms, car prices and interest rates have been rising. If millennials, the soon-to-be largest generation, put off their next car purchase as a result of these things, it could mean a market shift.

Here are the places where millennials owe the most and the least on their vehicles.

© DepositPhotos.com

More from Mediafeed

image beaconimage beaconimage beacon