Providers and Administrators in blue logo
MenuMENU
SearchSEARCH

Experian: Leasing Maintains Record Pace in Q3

December 7, 2015
3 min to read


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 from a year ago to $389, making the transaction type a viable option for payment-conscience car buyers as vehicle prices continue to rise.

Ad Loading...


“While consumers can save an average of $84 per month by leasing rather than taking out a loan on a new vehicle, they should make sure leasing fits their lifestyle,” noted Melinda Zabritski, Experian’s senior director of automotive finance. “Oftentimes, there are mileage caps and other considerations that consumers should familiarize themselves with before entering into a leasing agreement.”


Rising vehicle prices drove loan amounts to record levels in the third quarter, with the average amount financed during the period rising $1,137 from a year ago to $28,936. For used, the average amount financed rose by $290 from a year ago to $18,866. Experian also noted that the gap between new and used loan amounts continued to widen, with consumers able to finance a used vehicle for $10,070 less than a new one.


To keep their payments down, consumers financed their vehicles at record terms. For new vehicles, approximately 44% of car buyers took out loans with terms between 61 and 72 months. For used, 41% of buyers financed their purchased for the same duration. The percentage of car buyers agreeing to even longer terms also increased.


According to Experian, auto loans with terms between 73 and 84 months accounted for 25.7% of vehicles financed in the third quarter, a 17.1% increase from a year ago. For used, loans with terms between 73 and 84 months reached an all-time high, accounting for 16.2% of all used vehicles financed in the third quarter — a 12% increase from a year ago.


Experian also noted that one of the biggest shifts in the auto finance industry during the third quarter was the resurgence of captive finance sources, which claimed their largest share of new-vehicle financing since the Great Recession. They accounted for 51.6% of all new vehicles financed in the third quarter, up from 36.8% in the third quarter 2011.

Ad Loading...


Banks continued to hold the largest share of new- and used-vehicle loans combined at 34.7%. Finance sources, which traditionally play in the subprime and deep-subprime categories, accounted for 13.34% of all vehicles financed in the third quarter, a 6.4% increase from a year ago.


“Captive lending has made a comeback since suffering a steep drop-off caused by declining new sales and lender-type shifts during the recession,” Zabritski noted. “This is good news for manufacturers, as their captive finance companies often provide an additional source of revenue as well as a pipeline to credit for their dealer networks.”


As for monthly payments, the average for new vehicles financed during the third quarter increased $12 from a year ago $482. For used, payments rose $3 to $361. Additionally, the average credit score for a new-vehicle loan fell to 710, the lowest level since the third quarter 2007. The average interest rate for a new vehicle was 4.63%, while the average for used was 8.76%

More Industry

Line graphic showing week-over-week wholesale auto price changes
Industryby StaffApril 22, 2026

Black Book: Weekly Market Update

Wholesale auto conversion rates dropped slightly as auction buyers proved picky last week, analysts observed.

Read More →
pavement with car and charger wrapped around it painted on
Industryby Lauren LawrenceApril 16, 2026

EV Battery Cycle Life at Risk

Fast charging of electric vehicles provides a solution for range anxiety, but it also poses a risk to battery cycle life due to increased temperatures, according to an EV supply chain data provider.

Read More →
Photo of exterior facade of Beardmore Chevrolet store
Industryby Hannah MitchellApril 14, 2026

Founding Family Sells Nebraska Dealerships

Expanding Midwest automotive group picks up three stores as part of the robust transaction activity early this year.

Read More →
Ad Loading...
Up-close photo of car battery
Industryby Hannah MitchellApril 13, 2026

Automaker Increases Parts Recycling

Stellantis is adding a third end-of-life vehicle dismantling facility to feed its growing reuse business sparked in large part by autos’ growing lifespans.

Read More →
Photo of white 2026 Ford Bronco on a sandy beach
Industryby Hannah MitchellApril 10, 2026

March New-Vehicle Sales Don’t Reflect War

Cox Automotive data shows Americans doubled down on big-is-better despite price increases. Slightly higher incentives helped fuel the demand.

Read More →
Photo from the rear of the XC60 SUV
IndustryApril 8, 2026

Volvo to Shift Some EV Production to U.S.

The automaker says its movement of some electric-vehicle work to the S.C. factory is part of a more tailored product focus. It also plans to add a new hybrid model to the plant’s itinerary.

Read More →
Ad Loading...
Bar graphic depicting week-over-week change across the various vehicle segments
Industryby StaffApril 7, 2026

Black Book: Weekly Market Update

Last week's wholesale automotive auction activity continued in a healthy mode, though buyers practiced selectivity.

Read More →
red car at a gas station being filled with gas. Efficiency Drives Demand. Providers and Administrators logo
Industryby Lauren LawrenceApril 7, 2026

Gas Prices Driving Consumer Interest

CarGurus’ first quarterly review of 2026 shows that affordability concerns are continuing to drive consumer purchases with a shift to more fuel-efficient options.

Read More →
Blurred photo of red car moving down a road
Industryby Hannah MitchellMarch 31, 2026

Automakers Have More Tricks Up Their Sleeves

JD Power analysts see auto retail faring this year’s storms well through various means, though it acknowledges conditions are challenging to accurately predict.

Read More →
Ad Loading...
background view of Washington D.C. with the capitol building and cherry trees. Text says 'What's the Cost?' with two diverging arrows and the Providers and Administrator's logo
Industryby Lauren LawrenceMarch 31, 2026

Insurance Rates Continue to Fall

Car insurance premiums have continued to decline so far this year, the overall national average settling at $138 per month in March, according to Insurify data.

Read More →