Tag: automotive loans

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Leasing and used vehicle sales continue to break recor...

Leasing continued its strong growth as the share of new vehicles leased jumped from 26.9% in Q2 2015 to a record high of 31.4%...

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More consumers are opting for longer loan terms...

With the cost of new vehicles continuing to increase, consumers are opting for longer loan...

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Consumers are taking on longer 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...

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Average credit score drops for both new and used auto ...

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...

Read More Average credit score drops for both new and used auto loans