Tag: vehicle sales
Leveraging data to eliminate wasted ad spend will set your dealership up for success in the new year.
Findings from the Q3 State of the Automotive Finance report show that Subprime originations hit the lowest overall share of the market seen in 11 years.
According to Experian’s latest State of the Automotive Finance Market report, interest rates for new auto loans dropped to 4.27 percent — the lowest rate on record. In addition to increasing new vehicle sales, the historically low interest rates helped consumers finance a larger balance, with the average new vehicle loan coming in at $26,719 for Q3 2013 — the highest average amount financed since 2008. Sign up to access our quarterly analysis of the latest automotive finance trends Source: Experian Automotive: Interest rates for auto loans hit all-time low, while average amount financed reaches highest point since 2008