Experian Archives

Exploring Trends in Automotive Finance – Leasing and Cash Purchases Surge Amid Affordability Concerns

Exploring Trends in Automotive Finance – Leasing and Cash Purchases Surge Amid Affordability Concerns

As the automotive market undergoes major shifts, affordability remains a critical challenge for consumers. However, recent trends in leasing and cash transactions suggest that some alternatives are helping to ease financial pressures. In a recent episode of CBT Now, Melinda...

October 25, 2024

Auto Financing Trends: A Turn for the Better in Q3 as Loan Amounts Decline and Options Increase

Automotive Finance

Auto Financing Trends: A Turn for the Better in Q3 as Loan Amounts Decline and Options Increase

As financial barriers begin to ease, new data reveals a positive shift for consumers and auto financing sectors grappling with affordability issues. The latest report from Experian analyzing third-quarter figures shows a decline in financed amounts for both new and...

December 1, 2023

As auto prices soar, more buyers take out 6½- and 7-year loans

Automotive Finance Latest News

As auto prices soar, more buyers take out 6½- and 7-year loans

Source: CNBC – Phil LeBeau. The surge in auto prices in the second half of 2021 has pushed more consumers to take out auto loans that stretch beyond six years, according to a new report analyzing how millions of consumers...

February 25, 2022

Experian expands credit-building tools for consumers

Consumer Credit

Experian expands credit-building tools for consumers

By SubPrime Auto Finance News StaffCOSTA MESA, Calif. – Another initiative to help finance companies cater to consumers with little or no credit backgrounds recently surfaced; this time from Experian. In what the company said is meant to further financial inclusion...

January 31, 2022

Experian: Average used financing amount jumps 20% in Q3

Automotive Finance Automotive Lending

Experian: Average used financing amount jumps 20% in Q3

SCHAUMBURG, Ill. – By SubPrime Auto Finance News Staff. Access the Experian State of the Automotive Finance – Q3 2021 presentation here. More evidence of how rising wholesale and retail prices are landing within finance company portfolios arrived on Thursday. According to...

December 2, 2021

Consider credit ‘soft pulls’ at start of sales process

Automotive Finance Car Dealerships Consumer Credit Credit Approvals F&I Non-Prime Financing Prequalification

Consider credit ‘soft pulls’ at start of sales process

JOHN HUETTER – Reporter covering the finance-and-insurance business and auto retailing for Automotive News Performing a soft pull on a customer’s credit at the start of the buying process can improve sales and reduce awkward conversations in the F&I office, according...

October 21, 2021

Waning customer interest in cars swells loan size, payments for trucks

Automotive Finance Consumer Credit Latest News

Waning customer interest in cars swells loan size, payments for trucks

JOHN HUETTER – Automotive News Customers’ increasing preference for crossovers and SUVs means they’re making higher monthly payments and borrowing a few thousand dollars more to buy their vehicles, Experian said this month. Melinda Zabritski, Experian’s senior director of automotive financial...

August 24, 2021

Consumer Credit Digital Retailing

Autotrader’s My Wallet can generate specific financing details during online shopping journey

Well done Jessica Stafford & Autotrader US! When making a large purchase decision like buying a vehicle, Autotrader stressed that consumers need to understand not only how it fits into the overall big picture of their finances but also how it impacts their...

June 7, 2021

Auto Industry Message To New-Car Shoppers With Subprime Credit: Forget It

Automotive Finance Automotive Lending Consumer Credit Non-Prime Financing

Auto Industry Message To New-Car Shoppers With Subprime Credit: Forget It

Article from Jim Henry below. I don’t have the same opinion. Multiple OEMs already offer subvented rates to shoppers with subprime credit. I’ve been working on non-prime financing for over a decade now and there are multiple options for this...

February 28, 2021