According to Experian’s latest State of the Automotive Finance Market report, auto loan balances reached an all-time high of $987 billion in Q4 2015 — an increase of 11.5% over Q4 2014.
The growth in balances was fueled primarily by finance companies and credit unions, which had increases of 22.5% and 15.9%, respectively, over Q4 2014.
Lenders can capitalize on this growth by using analytics to design more effective strategies and target the right customers.
Discover how rental payment reporting can expand credit access, strengthen credit profiles and improve risk assessment for renters and housing providers.
Four organizations show what’s possible when data, analytics, AI and technology are put to work against real business and consumer challenges.
From thought-provoking conversations on AI and the future of financial services, day two of Vision brought bold ideas and insights.