FI showroom red and grey logo
MenuMENU
SearchSEARCH

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.

June 6, 2019
Experian: Facing Higher Loan Amounts, Prime Buyers Go Used

More car buyers armed with high credit scores are defecting from the showroom to the used-car lot as the new-vehicle affordability gap grows, according to the latest figures from Experian.

Photo courtesy Experian

2 min to read


SCHAUMBURG, Ill. — More and more prime and superprime car shoppers in the market for their next vehicle are electing to buy used, according to new research from Experian. Findings from the Q1 2019 State of the Automotive Finance Market report show the percentage of prime (61.9%) and superprime (44.8%) consumers choosing used vehicles reached an all-time high.

This trend comes as questions around vehicle affordability continue to dominate industry conversations. The average loan amount for a new vehicle surpassed $32,000 in Q1 2019, while the average loan amount for a used vehicle was slightly above $20,000. Additionally, the average monthly payment was $554 for a new vehicle and $391 for used.

Ad Loading...

“While vehicle affordability continues to be top of mind for the industry, consumers are actively seeking ways to ensure they can afford the vehicle they purchase — a positive sign for all parties involved,” said Melinda Zabritski, Experian’s senior director of automotive financial solutions. “It’s important that lenders and dealers continue to monitor these trends so they can work with car shoppers to help them find the right vehicle with the right financing options.”

The other side of the affordability conversation has focused on delinquency trends. In Q1 2019, 30-day delinquencies saw an increase to 1.98%, up from 1.9% a year ago. That said, banks, credit unions and finance companies all saw slight decreases in 30-day delinquency rates, and 60-day delinquencies remained relatively stable at 0.68% year-over-year. It’s important to keep in mind that the 30-day delinquency rate is still below the highwater mark of 2.81% set in Q1 2009.

“The delinquency rate is certainly a trend worth keeping an eye on, but it’s important to consider it within the larger historical context,” Zabritski said. “Other factors, like subprime originations remaining at historic lows, help paint the full picture of the industry.”

More Auto Finance

$5 bill poking out of blue jeans pocket
Auto Finance•by Hannah Mitchell•October 14, 2026

Interest Rates Further Squeeze Auto Consumers

Last month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.

Read More →
Staircase with no rails next to red-painted wall
Auto Finance•by John Tabar•October 8, 2026

Mind Your Process

Consistent steps taken in various aspects of the F&I office can make valuable differences over time, similar to an outline for a best-selling book.

Read More →
Scrabble letter tiles spelling fraud
Auto Finance•by Gil Van Over•September 30, 2026

Top Five Credit Application Fraud Flags

Compliance audits regularly reveal bad habits that can lead to fraud charges and should have been stamped out decades ago.

Read More →
Ad Loading...
Paper money, car key fob and calculator
Auto Finance•by Hannah Mitchell•September 14, 2026

More Auto Loans for the Taking in August

Riskier categories were on the uptick for the month as lenders loosened access in several areas while balancing out the exposure in another, Cox Automotive reported.

Read More →
A fan of $100 bills sitting on a white envelope
Auto Finance•by Hannah Mitchell•August 12, 2026

July Was Hot for Auto Borrowers

Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.

Read More →
stacks of coins, a calculator, paperwork, and a pair of glasses in the background, text Lender Experience Drives Dealer Decisions, F&I and Showroom
Auto Finance•by Lauren Lawrence•August 12, 2026

Dealer Lender Preferences Revealed

When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.

Read More →
Ad Loading...
man sitting at desk using a calculator
Auto Finance•by Lauren Lawrence•August 10, 2026

Auto Refi Savings Surge

Consumers with 84-month auto loan terms who refinanced saved the most on monthly payments, according to a new report by auto refinancing provider Caribou.

Read More →
Tiny toy car in front of small stacks of coins
Auto Finance•by Hannah Mitchell•August 5, 2026

Subaru Enters Lending Business

The automaker follows other brands in adding captive financing in the U.S., and says the move will strengthen its position here.

Read More →
Man climbing ladder in front of mountain landscape.
Auto Finance•by Lauren Lawrence•August 3, 2026

Positive Equity Reaches Record High

Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.

Read More →
Ad Loading...
Photo of document next to calculator and inkpen
Auto Finance•July 20, 2026

Dealerships Are Paying the Price for Extended Car Loans

Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.

Read More →