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Pearl Technology Integrates Experian Propensity Scoring Platform

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Experian: More Consumers Turning to Leasing, Used Vehicles

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 »

New-Vehicle Registrations Return to Prerecession Levels

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 »

Experian: Leasing Maintains Record Pace in Q3

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 »

Auto Loan Balances Totaled $968 Billion in Q3

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 »

Payment Gap Between New and Used Hits All-Time High in Q2, Experian Reports

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 »

Subprime Loan Percentage Falls to Lowest Level in Three Years

SCHAUMBURG, Ill. — In 2015’s first quarter, the percentage of automotive loans that fell within the subprime and deep subprime risk categories made up 19.7% of the market — the lowest share since 2012, according to Experian Automotive. The firm’s State of the Automotive Finance Market report for first quarter 2015 found that subprime loans made up 16.2% ... Read More »

Consumers Relying on Financing, Experian Reports

SCHAUMBURG, Ill. —Consumers are relying on financing more than ever to buy their next vehicle, according to Experian Automotive. The firm’s latest State of the Automotive Finance Market report shows that the percentage of new vehicles purchased with financing in the fourth quarter of 2014 increased over the previous year to reach 84%. Used vehicles ... Read More »

VehicleXchange, Experian to Collaborate on Equity Tools Suite

DALLAS — Experian Automotive has entered into an agreement with VehicleXchange LLC (VX), allowing the new company to incorporate Experian data into its new suite of auto-loan equity tools, as well as develop a new generation of services that will range from service drive and data mining to dynamic appraisal and digital auto retailing. “VehicleXchange ... Read More »

Loan Amounts Reach Record Highs in Q3

SCHAUMBURG, Ill. — The average dollar amount for both new and used vehicle loans reached all-time highs in the third quarter of 2014, according to Experian Automotive’s latest State of the Automotive Finance Market report. The average loan amount for a new vehicle was $27,799 in the third quarter of 2014, up $1,080 from the ... Read More »