Posts Tagged ‘ automotive loans ’
Findings from Experian's latest State of the Automotive Finance Market analysis showed the average loan term for a new vehicle jumped to an all-time high of 65 months in Q4 2012, up from 63 months in Q4 2011. More consumers also are opting for leases, with the lease share of new auto financing increasing to 24.79 percent, up from 10.45 percent in Q4 2011. [ READ MORE ]
Tweet The automotive loan market continued to improve, with lenders showing more willingness to lend outside of prime. In Q4 2011, average credit scores for new and used auto loans dropped when compared with Q4 2010. Additionally, the percentage of loans to customers with nonprime, subprime or deep-subprime credit scores increased. Average credit scores for [...][ READ MORE ]
