Auto outstandings near $1.8T, Toyota Financial Services in top spot (Big Wheels)

Industrywide auto loan and lease outstandings totaled about $1.78 trillion at yearend 2024, with Toyota Financial Services retaining its top position as the largest auto lender by outstandings. 

Outstandings jumped despite the top 10 lenders reporting portfolio declines year over year. Toyota Financial Services (TFS) had a portfolio of $104.9 billion, down 3.9% YoY, according to the latest Big Wheels Rankings data, which provides a tabulation of the top 100 auto lenders by originations and outstandings.  

Auto Finance News this week released the 2025 Big Wheels Rankings data along with the launch of five new interactive dashboards, each designed to allow industry executives to dive deep into peer-to-peer comparisons and gain key insights on performance and market share. 

The Big Wheels Data Service provides data sets spanning underwriting, volume, pricing and capital for over 9,000 U.S. lending institutions. Newly added data sets delve into credit performance, peer comparisons, credit union-specific insights and market overviews.  

By outstandings, the lenders rounding out the top five in 2024 were: 

• GM Financial, $99 billion; 

• Ally Financial, $91.8 billion; 

• Chase Auto, $84.7 billion; and 

• Capital One, $76.8 billion. 

While TFS retained the top spot, GM Financial took the second spot as Ally Financial dropped to third. Chase Auto, Capital One Auto Finance, Ford Motor Credit and American Honda Finance retained their fourth- through seventh-place rankings from 2023. 

Across the top 100 auto lenders by outstandings volume, auto leasing was steady at 16.9% of total outstandings, with leasing volume among captives rising 4% YoY to $195.3 billion. 

Originations increased 9.6% YoY in 2024 across the nation’s top 100 financiers to $656 billion. TFS also took the lead in terms of originations volume at $65.9 billion, followed by GM Financial, Chase Auto and Ford Credit. 

Peer comparisons 

In the fourth quarter of 2024, TFS reported an uptick in delinquencies, a decline in net charge-offs and steady recoveries, according to the Big Wheels YoY Comparison Tool, which provides a breakdown of key credit and lending metrics across auto finance institutions.  

The new Peer Comparison Tool allows for side-by-side comparison of two lenders’ portfolios and credit metrics for deeper insights than previously available. 

The new release of Big Wheels also features enhanced credit union data, with the Credit Union Insights Dashboard able to drill into the performance of new-, used- and leased-vehicle lending — including delinquencies, interest rates and recoveries — across over 4,000 U.S. credit unions.  

The Market Overview Dashboard provides a macro view of lender composition, credit performance and portfolio distribution trends across the U.S. auto finance industry. 

— Additional reporting by Marcie Belles 

Big Wheels Auto Finance Data supports strategic planning, portfolio growth and risk management. Access all data here.