From January to July, 11.3 million new auto loans totaling $213.9 billion were originated, the report showed.

Delinquency rates continue to improve for those auto loans that are 60 or more days late, according to Equifax.

Meanwhile, in at least one case, banks and credit unions are nearly tied when it comes to the average rate on five-year, indirect new auto loans.

According to rate tracking firm Informa Research Services, credit unions had an average rate of 8.37% compared to 8.38% for banks as of Nov. 13. The indirect loan average applies to those who have credit scores between 625 and 640.

Credit unions are ahead of banks by a few points in other five-year, indirect loan categories. The average rate for those with credit scores between 680 and 719 was 4.38% at credit unions and 4.71% at banks for the period tracked.

There was a 21-point difference for those with credit scores between 650 and 679. The average five-year, indirect loan rate at credit unions was 6.26% and 6.47% at banks.

Still, overall, credit unions continue to offer lower rates on new, five-year auto loans, with the average rate being 3.53% compared to 4.94% at banks, according to Informa. For used, auto loans with terms between two and four years, the average rate at credit unions was 3.72% and 5.25% at banks.