Question of the Day: For the 32% of Gen Zers that have an auto loan, what is their median loan balance?

Sep 20, 2021
Question of the Day

Answer: $14,620


  • Do you think you will need a loan for the first car that you buy?
  • What do you think is a reasonable amount of auto debt to have?
  • A car salesperson says they can get you into your first car for $300 a month. What should be your next question?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. 

Behind the numbers (Lending Tree): 

Gen Xers are the most likely to have auto debt, and they also carry the largest loans. At $19,233, the median auto loan balance of Gen Xers is 14% more than the next largest median balance. The silent generation has the lowest amount of auto debt, even with 33% of its cohort having an auto loan balance. Their median loan balance is $13,203.


Your students will flip the script to learn about the tricks of the loan trade with the Shady Sam Arcade game


Lots more questions where this one came from... browse the Question of the Day library. 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.