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 »

Experian Finds Longer Vehicle Ownership Reduces Brand Loyalty

SCHAUMBURG, Ill. — Experian Automotive found that the longer consumers owns their vehicles, the less likely they are to buy their next vehicle from the same brand. Average length of ownership in the first quarter of 2014 was 7.75 years, a number which correlated with a brand loyalty rate of 49.5%. In Experian’s analysis, the ... Read More »

Experian: Average Loan Terms Stretch to Record High

Experian Automotive: Consumers Purchasing an Electric Vehicle are Younger and More Affluent Than Those Buying a Hybrid

Experian Automotive Launches Tool to Help Lenders Better Monitor Changes in Loan Status on Vehicles

Experian Automotive: 30-day Auto Loan Delinquencies Drop, While 60-day Delinquencies Remain Flat