Experian - Tagged Posts

New Vehicle Financing Returning to Pre-Pandemic Levels

Inventory shortages continue to push average loan amounts and monthly payments for used vehicles higher.

Automotive Finance Industry Shows Consistency in Q4 2020 Despite Disruptions

Overall, the automotive finance market has remained resilient, despite the pandemic. Staying close to the data will help lenders ensure they have the right options available to fit consumers’ needs and budgets.

Utilizing Vehicle History to Minimize Portfolio Risk

Incorporating vehicle history reports into the lending decisions can help uncover hidden issues with the vehicle and adjust loan terms accordingly.

Q3 2020 Finance Trends Demonstrate Automotive Industry’s Resilience

As we look at the market in Q3, there were a number of notable statistics that can help lenders identify trends and inform strategy.

New Experian Report Shows Auto Industry Continued to Rebound in Q3

Despite smaller percentage of financed vehicles, outstanding loan balances grew 2.8% year-over-year to more than $1.2 trillion.

Despite the Initial Impact of COVID-19, the Automotive Industry Shows Positive Signs In Q2 2020

The average loan amount for a new vehicle jumps $4,000; however, the average monthly payment remains steady.

Auto Industry Rebounds, Despite Early COVID-19 Challenges

The more insight lenders have into the current market, the better positioned they will be to present car shoppers with financing options that meet consumers’ unique circumstances.

Delinquency Rates Decrease In Q1 2020; While Affordability Remains Top of Mind

April data sheds light into how the industry was impacted during the early stages of COVID-19.

Q3 Auto Finance: Used Accounts for 55% of Loans

Experian analysts say buyers of pre-owned vehicles accounted for 55.15% of all U.S. auto loan originations in the third quarter, a 2.4% year-over-year increase.

Prime Buyers Flock to Used Vehicles in Q2 Report

Experian’s Q2 auto finance report consumers continue to uncover ways to manage monthly payments. For a record percentage of prime borrowers, that meant passing on a $32,000-plus new-vehicle loan in favor of a pre-owned unit.