P&A Providers & Administrators
MenuMENU
SearchSEARCH

Experian: Facing Higher Loan Amounts, Prime Buyers Go Used

More consumers in the prime and superprime credit tiers opted for used vehicles as concerns around affordability grew in the first quarter, according to the latest report from Experian.

June 6, 2019
Experian: Facing Higher Loan Amounts, Prime Buyers Go Used

More car buyers armed with high credit scores are defecting from the showroom to the used-car lot as the new-vehicle affordability gap grows, according to the latest figures from Experian.

Photo courtesy Experian

2 min to read


SCHAUMBURG, Ill. — More and more prime and superprime car shoppers in the market for their next vehicle are electing to buy used, according to new research from Experian. Findings from the Q1 2019 State of the Automotive Finance Market report show the percentage of prime (61.9%) and superprime (44.8%) consumers choosing used vehicles reached an all-time high.

This trend comes as questions around vehicle affordability continue to dominate industry conversations. The average loan amount for a new vehicle surpassed $32,000 in Q1 2019, while the average loan amount for a used vehicle was slightly above $20,000. Additionally, the average monthly payment was $554 for a new vehicle and $391 for used.

Ad Loading...

“While vehicle affordability continues to be top of mind for the industry, consumers are actively seeking ways to ensure they can afford the vehicle they purchase — a positive sign for all parties involved,” said Melinda Zabritski, Experian’s senior director of automotive financial solutions. “It’s important that lenders and dealers continue to monitor these trends so they can work with car shoppers to help them find the right vehicle with the right financing options.”

The other side of the affordability conversation has focused on delinquency trends. In Q1 2019, 30-day delinquencies saw an increase to 1.98%, up from 1.9% a year ago. That said, banks, credit unions and finance companies all saw slight decreases in 30-day delinquency rates, and 60-day delinquencies remained relatively stable at 0.68% year-over-year. It’s important to keep in mind that the 30-day delinquency rate is still below the highwater mark of 2.81% set in Q1 2009.

“The delinquency rate is certainly a trend worth keeping an eye on, but it’s important to consider it within the larger historical context,” Zabritski said. “Other factors, like subprime originations remaining at historic lows, help paint the full picture of the industry.”

Originally posted on F&I and Showroom

More Industry

Subwoofer in trunk of car.
Industryby Lauren LawrenceMay 26, 2026

Ownership Priorities are Shifting

A new survey shows that in the U.S. vehicle quality for generation Z is largely defined by advanced safety features, intuitive technology and premium sound systems.

Read More →
Man's hand holding gas pump in fuel tank of white car
Industryby Hannah MitchellMay 26, 2026

Pump Price Jump Calculated

ISeeCars.com examined fuel costs for different power trains, finding which ones have experienced the biggest hits since the war in Iran commenced.

Read More →
Graphic showing previous week's truck and SUV segment prices
Industryby StaffMay 20, 2026

Black Book: Weekly Market Update

Wholesale values fell last week despite the spring season still being in the traditional full-gear mode, analysts said.

Read More →
Ad Loading...
Photo of dealership sign with Toyota logo
Industryby Lauren LawrenceMay 19, 2026

Arkansas Auto Group Acquires First Indiana Rooftop

Performance Brokerage Services represented both the buyer and seller in the sale of Carver Toyota of Columbus by Carlock Automotive Group.

Read More →
Headshot photo of Antonio Filosa, Stellantis CEO
Industryby Hannah MitchellMay 19, 2026

Stellantis to Dive Into U.S. Lending

The multinational maker of Chrysler, Dodge, Jeep, Ram and multiple other brands received conditional approvals for a Utah-based industrial bank.

Read More →
Photo of the rear of a new BMW iX SUV
Industryby Hannah MitchellMay 12, 2026

New-Vehicle Prices Rise

With April sales down, higher prices on in-demand large vehicles helped inflate the overall ATP, though increases were under long-term averages, Cox Automotive reported.

Read More →
Ad Loading...
Graphic of car segments' results the previous week
Industryby StaffMay 12, 2026

Black Book: Weekly Market Update

Last week in the wholesale automotive market proved to be a mixed bag, analysts reported.

Read More →
Graphic of last week's estimated used retail days to turn
Industryby StaffMay 6, 2026

Black Book: Weekly Market Update

Conversion rates were flat last week at 63%, Black Book analysts calculated, as low-mileage and almost-near units outpaced the overall market.

Read More →
cargo ship with vehicles, at dock
Industryby Lauren LawrenceMay 5, 2026

EU Auto Association Urges Action

Trade relations between the European Union and the U.S. are at risk, causing the European Automobile Manufacturers Association to push lawmakers to make a decision.

Read More →
Ad Loading...
two people working on a paper contract together
IndustryMay 1, 2026

Driving into the Super CFC Era

Understanding the risks and benefits of retail accounting and Super CFCs can help you better present options to your dealer partners.

Read More →