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December 5, 2016 - Industry News

Experian: Financing Extended to Subprime Car Buyers Declines to Record Lows in Q3

Auto financing extended to subprime and deep-subprime car buyers fell 4.5% from a year ago, as the auto finance industry continued to squash fears of a forming subprime bubble. Newly originated loans made to prime car buyers jumped 2% to encompass nearly 60% of auto loans originated during the period.

Tags: Auto Loans, Deep-Subprime, Experian, subprime, Third Quarter

September 20, 2016 - Industry News

Black Book: Used Leasing a Viable Strategy for Moving Glut of Off-Lease Vehicles

Black Book issued a white paper that suggests used leasing could be the answer to the glut of off-lease vehicles expected to return to market this year. While directed at finance sources, the white paper offers a four-step process dealers can use to identify the right vehicles for used leasing.

Tags: Black Book, Experian, leasing, Used Leasing

June 28, 2016 - Industry News

96.7% of Jeeps Are U.S.-Built, Experian Reports

An Experian analysis found that out of all auto brands that sell in the United States, Jeep had the highest percentage of vehicles built domestically. According to the analysis, 96.7% of Jeeps on U.S. roads were assembled in the country.

Tags: American, Analysis, Experian, Experian Automotive, Jeep

March 17, 2016 - Industry News

Women Better Managers of Credit Than Men, Study Shows

Not only do women have higher credit scores and less debt than men, according to a new report from Experian, they are more likely to purchase a more functional, utilitarian vehicle than their male counterparts.

Tags: Auto Loans, Credit, Experian

March 1, 2016 - Industry News

Garth Cappy Joins CreditMiner

The former director of dealer enterprise relationships for Equifax joins the firm as vice president of credit service for the North American market, a role in which he'll oversee CreditMiner's automotive vertical.

Tags: CreditMiner, Equifax, Experian, Hiring, TransUnion

August 18, 2015 - Industry News

Auto Loan Defaults Rise in July

Consumer credit defaults remained relatively stable in July, according to data from S&P Dow Jones Indices and Experian. The on exception were auto loans, which showed an increase in defaults.

Tags: Auto Loans, Consumer Credit, default rates, Experian, S&P/Experian

August 12, 2015 - Industry News

Experian: Auto Loan Balances Grow at Fastest Rate Since 2006

The total dollar volume for outstanding automotive loan balances grew by $92 million from the second quarter of 2014 to the second quarter of 2015, the largest dollar volume growth since 2006, according to a report from Experian Automotive.

Tags: Auto Loan Delinquency Rate, Auto Loans, Experian, Experian Automotive, subprime

July 2, 2015 - Industry News

Federal Agency Says Stretching Terms a Concern

The Office of the Comptroller of the Currency said in its semiannual report that stretching terms and higher advances are a concern. The agency said it will continue to monitor the market and will take action when warranted.

Tags: Auto Lending, Auto Loan Terms, Experian, Treasury Department

June 2, 2015 - Industry News

Auto Loan Terms Reach All-Time Highs, Experian Reports

The average loan term for new and used vehicles has increased by one month, reaching new all-time highs of 67 and 62 months, respectively, according to a new report from Experian.

Tags: Auto Loan Terms, Experian, Experian Automotive, loans

May 19, 2015 - Industry News

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.

Tags: deep subprime, Experian, Experian Automotive, First Quarter, Melinda Zabritski, subprime

May 5, 2015 - Industry News

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.

Tags: deep subprime, Delinquencies, Experian, Experian Automotive, First Quarter, Melinda Zabritski, subprime

March 19, 2015 - Industry News

Consumer Credit Defaults Continue Upward Trend

According to S&P and Experian, consumer credit defaults continue to rise, with the bank card default rate leading the way. The auto loan default rate also increased.

Tags: Auto Loans, Credit, default rates, Experian, S&P/Experian

March 5, 2015 - Industry News

Consumers Relying on Financing, Experian Reports

In 2014’s fourth quarter, the percentage of new vehicles purchased with financing increased over the previous year to reach 84%, according to Experian Automotive’s latest State of the Automotive Finance Market report.

Tags: auto finance, Experian, Experian Automotive, Finance, Report

March 3, 2015 - Industry News

Experian’s AutoCheck Integrates with AutoAlert

Experian Automotive’s AutoCheck vehicle history reports are now integrated with AutoAlert’s Deal Sheet function, cutting down the time needed to prepare customer presentations.

Tags: AutoAlert, Experian, Systems Integration, Vehicle History Reports

January 27, 2015 - Industry News

Experian Launches Vehicle Equity Estimation Tool

Experian’s new Auto Equity Model helps users estimate a consumer’s vehicle equity on an existing auto loan.

Tags: Auto Loans, Equity, Experian

April 8, 2014 - Industry News

NADA Used Car Guide: Credit Conditions to Become 'Slightly Less Favorable'

The NADA Used Car Guide expects credit conditions to become ‘slightly less favorable’ by the end of the year as finance sources take on more risk.

Tags: car prices, Credit, Experian, Federal Reserve, lenders, NADA Used Car Guide

November 5, 2013 - Industry News

Experian: Number of Vehicles on the Road at Highest Level Since 2008

Not only is the number of vehicles on the road today at its highest level since 2008, the average age of the current fleet increased a full year from four years ago, Experian Automotive reports.

Tags: Chrysler, Experian, Experian Automotive, Ford, General Motors, Toyota

August 27, 2013 - Industry News

NADA MarketValues App Now Available in Google Play Store

NADA MarketValues, a mobile app designed for dealers to make informed pricing decisions on used cars and light trucks at auction, is now available for Android devices on Google Play.

Tags: Android, AutoCheck, Experian, Mobile Applications, NADA

August 15, 2013 - Industry News

Experian Automotive: Repossessions Fall to Lowest Rate on Record

In addition to record-low repossessions, 30-day delinquencies drop and 60-day delinquencies remain flat as the auto finance market stays strong.

Tags: Delinquencies, Experian, Experian Automotive, Repossessions

June 11, 2013 - Industry News

Experian Automotive: Auto Leasing Reaches Record High

Leasing accounted for a record 27.5 percent of all new vehicles financed in the first quarter, according to Experian Automotive. The firm also noted decreases in average monthly payments and a stretching of loan terms.

Tags: auto finance, Experian, leasing, Prime, subprime

May 2, 2013 - Industry News

Gov. Cuomo to Credit Reporting Agencies: Protect Sandy Victims

New York Gov. Andrew Cuomo is demanding that credit bureaus give special allowances for Hurricane Sandy victims. The credit reporting agencies, however, say they are already doing their part.

Tags: Credit Scores, Equifax, Experian, FICO, Hurricane Sandy, TransUnion

February 14, 2013 - Industry News

Experian Automotive Launches AutoCheck Triggers

Rolled out at the recent NADA Convention and Expo, AutoCheck Triggers allows dealers to track 20 difference data elements about a vehicle and their inventory, including changes in reported accidents and auction announcements.

Tags: AutoCheck triggers, Experian, NADA

December 13, 2012 - Industry News

CFPB: Credit Cards Dominate Consumer Reports

A new report from the CFPB finds that credit cards dominate consumer reports, while debt collection topped the list of disputes.

Tags: CFPB, consumer report, credit agency, Equifax, Experian, Finance, TransUnion

October 11, 2012 - Industry News

Experian: Toyota Grabs Top Spot in Corporate Loyalty

For the first time since 2009, Toyota ranked highest in retaining customers, according to Experian Automotive. Ford, however, maintained strong brand loyalty with four of its five top-performing models.

Tags: corporate loyalty, Experian, Toyota

August 16, 2012 - Industry News

Delinquencies, Repossessions Drop in Q2, Experian Automotive Reports

Consumers continued to make their auto loan payments on time in the second quarter, with 30- and 60-day delinquencies falling to historic lows.

Tags: Auto Loan Delinquency Rate, Experian, Repossessions

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