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TransUnion analysts report more consumers in the prime and superprime credit tiers are choosing to buy used as off-lease units continue to flood the market, offering a budget-friendly alternative to increasingly expensive new cars.
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Spireon has united multiple automotive channels into a single division to be led by TrueCar and Autotrader veteran Brian Skutta.
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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.
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An analysis of more than 35,000 loans for pre-owned vehicles on the LendingTree platform finds Tesla, Porsche, and Lexus buyers had the highest average credit scores.
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Edmunds says the average APR for a U.S. new-vehicle loan was 6.36% in March, putting dealers and consumers on the cusp of a ‘dramatic shift’ toward the used-car market.
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