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Melinda Zabritski

Experian: Facing Higher Loan Amounts, Prime Buyers Go Used

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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AFSA Panel Bursts Subprime Bubble

Representatives from the three major credit bureaus opened the 21st annual Vehicle Finance Conference and Exposition by confirming that there is no forming subprime bubble. They explained why and how millennials are contributing to a healthy auto finance market.

Experian: More Consumers Turning to Leasing, Used Vehicles

With new-vehicle loan amounts and monthly payments rising to record highs during the fourth quarter, leasing’s share of the market grew to record levels. Data from Experian Automotive also showed that more consumers turned to the used-vehicle market in the end-of-year period.

Subprime Loan Percentage Falls to Lowest Level in Three Years

In the first quarter of 2015, 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.

Experian Automotive: Delinquency Rates Rising

In the third quarter of 2014, 30- and 60-day automotive-loan delinquencies grew 3.7% and 8.6%, respectively, from the previous year. The change was due to growth in subprime loans.

Subprime Financing Begins to Level Off, Experian Says

The percentage of new-vehicle loans made to credit-challenged car buyers was at 15.1% in the second quarter of 2014, down from 22.1% in the same period in 2013, according to Experian Automotive.