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First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
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SEARCHMENUSEARCHExperian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
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Data reflect growing finance activity on the extreme ends of credit risk scale
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The amounts owed on under-water trade-ins reach new highs.
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Though many auto consumers are finding it challenging to trade, dealers can leverage conditions to help them get over the hump.
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Recent patterns show good credit helps navigate high interest rates as highly leveraged consumers sink further.
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Slight May improvement came with risks to borrowers, lenders.
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Experian report shows other shifts, including banks clawing back market share.
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Overall April conditions didn’t benefit the consumer, especially those presenting more risk.
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Rethinking auto financing for a new era of buyers
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