The latest automotive loan trends

December 15, 2017 by Guest Contributor

Auto originations continue to increase — particularly within prime categories. According to Experian’s latest State of the Automotive Finance Market report:

  • Prime consumers grabbed the lion’s share of the total finance market, at 40.9%.
  • Super-prime buyers showed the largest increase, reaching 20.2%.
  • Consumers outside the prime category (credit score of 600 or lower) decreased to the lowest share on record since 2012.
  • Credit unions and captive lenders increased market share of total vehicle financing, growing to 21% and 29.8% — an increase of 6.9% and 35.1%, respectively.

As auto loan originations continue their upward trend, lenders can stay ahead of the competition by using advanced analytics to target the right customers and increase profitability.