Tag: auto loans
Increase in delinquent loans has led to a discussion about the auto finance industry's stability. But it’s important to put these trends into context.
Despite consumers taking out larger loan amounts, they continue to make their monthly payments on time. But, affordability remains a
Market trends and insight from Q1 2018. The economy remains steady as we transition from 2017. Keep an eye on inflation and interest rates.
Auto originations continue to increase — particularly within prime categories. 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.
Average amount financed for a new vehicle in Q4 2016 was $30,261 — up $710 from Q4 2015 and the highest amount on record
the amount of time it’s taking for automotive loans opened in Q4 2015 to become delinquent is actually similar to the pace in 2008.
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% in Q2 2016.
As new vehicle prices continue to rise, more consumers are turning to leasing as a cost-effective auto financing option.
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.
According to the latest State of the Automotive Finance Market report, consumers are continuing to extend loan terms as a way to keep payments low.
While auto delinquencies declined slightly year over year (3.01% for accounts 30 days past due or greater in Q2 2015 versus 3.03% a year earlier), it is interesting to note the variance in delinquency by lender channel.
According to Experian’s latest State of the Automotive Finance Market report, auto loan balances reached an all-time high of $905 billion in the first quarter of 2015.
Auto loan originations reached $153 billion in Q2 2014, which was a 16 percent increase over the same quarter last year. While the largest contribution came from captive auto lenders at $47 billion (a 14 percent increase), credit unions experienced the largest year-over-year increase of 35 percent, with originations reaching $37 billion in the latest quarter. As auto loan originations continue to grow, lenders can stay ahead of the competition by using advanced analytics to target the right customers and increase profitability. Learn how your automotive portfolio compares through the peer-benchmarking capabilities of IntelliViewSM, and view sample reports by industry. Source: Access the latest credit trends with Experian's IntelliView.
While automotive loan originations grew 15 percent year over year in Q1 2014, a recent Experian Automotive study found that more consumers are continuing to drive older-model vehicles.