1 in 4 Vehicles Financed by Credit Unions in Q4
New Experian report shows average loan amount increases tapered off, while average terms decreased.
New Experian report shows average loan amount increases tapered off, while average terms decreased.
Alternative fuel vehicles now represent nearly 16% of new vehicle financing; banks originated more than 55% of new alternative fuel vehicle loans.
Experian’s "State of the Automotive Finance Market: Q3 2021" report finds delinquencies remain lower than pre-pandemic levels.
Experian’s latest report also highlights geographic trends in automotive finance.
SCHAUMBURG, Ill. — The average amount financed and the average monthly payment for new vehicles financed during 2015’s end-of-year quarter rose to record levels, according to Experian Automotive. But those weren’t the only records set during the period. The credit reporting agency reported today that the average amount financed for a new vehicle in the ... Read More »
SCHAUMBURG, Ill. — New-vehicle registration volumes for light-duty vehicles reached the highest point in nine years, with more than 17 million new vehicles registered within the United States between Nov. 1, 2014 and Oct. 31, 2015, according to Experian Automotive. The highest number of new registration volumes on record was 17.4 million in 2006, while ... Read More »
SCHAUMBURG, Ill. — Experian Automotive reported today that the percentage of vehicles leased during the third quarter reached its highest point since the firm began tracking auto finance data in 2006, accounting for nearly 27% of all new-vehicle transactions. The firm also noted that the average month lease payment during the quarter rose by $1 ... Read More »
SCHAUMBURG, Ill. — Experian Automotive reported today that outstanding automotive loan balances totaled $968 billion in the third quarter. That’s up $98 million from a year ago and up more than 53% from the post-recession low in 2010. The firm noted that while outstanding balances have grown substantially, borrowers continue to keep the market stable ... Read More »
SCHAUMBURG, Ill. — Experian Automotive reported today that the gap between the average monthly payments for new and used vehicles during the second quarter reached a record $122 — the largest margin since Experian began publicly reporting auto finance data in 2008. According to the firm, the average monthly payment for a new vehicle was ... Read More »
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