FI showroom red and grey logo
MenuMENU
SearchSEARCH

Experian: Leasing Maintains Record Pace in Q3

Consumers continued to lease vehicles at a record pace in the third quarter, while captives claimed their largest share of new-vehicle financing since the Great Recession.

by Staff
December 2, 2015
3 min to read


SCHAUMBURG, Ill. — Experian Automotive reported today that the percentage of vehicles leased during the third quarter reached its highest point since the firm began tracking auto finance data in 2006, accounting for nearly 27% of all new-vehicle transactions.

The firm also noted that the average month lease payment during the quarter rose by $1 from a year ago to $389, making the transaction type a viable option for payment-conscience car buyers as vehicle prices continue to rise.

Ad Loading...

“While consumers can save an average of $84 per month by leasing rather than taking out a loan on a new vehicle, they should make sure leasing fits their lifestyle,” noted Melinda Zabritski, Experian’s senior director of automotive finance. “Oftentimes, there are mileage caps and other considerations that consumers should familiarize themselves with before entering into a leasing agreement.”

Rising vehicle prices drove loan amounts to record levels in the third quarter, with the average amount financed during the period rising $1,137 from a year ago to $28,936. For used, the average amount financed rose by $290 from a year ago to $18,866. Experian also noted that the gap between new and used loan amounts continued to widen, with consumers able to finance a used vehicle for $10,070 less than a new one.

To keep their payments down, consumers financed their vehicles at record terms. For new vehicles, approximately 44% of car buyers took out loans with terms between 61 and 72 months. For used, 41% of buyers financed their purchased for the same duration. The percentage of car buyers agreeing to even longer terms also increased.

According to Experian, auto loans with terms between 73 and 84 months accounted for 25.7% of vehicles financed in the third quarter, a 17.1% increase from a year ago. For used, loans with terms between 73 and 84 months reached an all-time high, accounting for 16.2% of all used vehicles financed in the third quarter — a 12% increase from a year ago.

Experian also noted that one of the biggest shifts in the auto finance industry during the third quarter was the resurgence of captive finance sources, which claimed their largest share of new-vehicle financing since the Great Recession. They accounted for 51.6% of all new vehicles financed in the third quarter, up from 36.8% in the third quarter 2011.

Ad Loading...

Banks continued to hold the largest share of new- and used-vehicle loans combined at 34.7%. Finance sources, which traditionally play in the subprime and deep-subprime categories, accounted for 13.34% of all vehicles financed in the third quarter, a 6.4% increase from a year ago.

“Captive lending has made a comeback since suffering a steep drop-off caused by declining new sales and lender-type shifts during the recession,” Zabritski noted. “This is good news for manufacturers, as their captive finance companies often provide an additional source of revenue as well as a pipeline to credit for their dealer networks.”

As for monthly payments, the average for new vehicles financed during the third quarter increased $12 from a year ago $482. For used, payments rose $3 to $361. Additionally, the average credit score for a new-vehicle loan fell to 710, the lowest level since the third quarter 2007. The average interest rate for a new vehicle was 4.63%, while the average for used was 8.76%

More F&I

Woman in casual clothing sitting at a desk
F&Iby Rick McCormickMarch 31, 2026

Curb The Confusion

Talk to F&I customers like you’d talk to a friend, without industry lingo or sales-like questions, and use hard proof to show, not tell, them about a need.

Read More →
Photo of man's hand on laptop computer keyboard with blank screen
F&IMarch 16, 2026

There Is Always one More Product

Helping F&I customers understand complementary offerings is likely to lead to more sales, based on the success of a high-performing practitioner of the philosophy.

Read More →
REGISTER FOR EFI 2026
F&Iby Kate SpataforaMarch 16, 2026

EFI Conference Extends Early Bird Discount as Room Block Nears Capacity

Ethical F&I Manager's Conference will take place at The Cosmopolitan Las Vegas on April 13–15, 2026.

Read More →
Ad Loading...
Industryby StaffMarch 6, 2026

Explore the 12 Rules for an F&I Life at EFI

EFI 2026 will take place April 13–15 at The Cosmopolitan Las Vegas.

Read More →
F&IMarch 4, 2026

Creating Your Own Economy

In this video, Reese Dailey explains how effective follow-up drives better results across the dealership, including increased sales, higher F&I penetration, and stronger customer retention.

Read More →
Industryby StaffMarch 2, 2026

Prove You Can Do F&I at EFI

‘So You Think You Can Do F&I’ is a live role-play contest taking place at the 2026 Ethical F&I Managers Conference.

Read More →
Ad Loading...
Image of two human hands, one holding the word yes, the other the word no
F&Iby Hannah MitchellMarch 1, 2026

Expect Yes in the F&I Office

It may be human nature to back off when a customer seems to say no to a product or service. But experts say F&I managers should operate as though the answer will be the opposite.

Read More →
Industryby Lauren LawrenceFebruary 25, 2026

Report Finds Year-End F&I Strength

Deal volume ebbed and flowed throughout 2025, but product performance remained steady, according to automotive technology and data intelligence solutions provider StoneEagle.

Read More →
Industryby Hannah MitchellFebruary 23, 2026

Some Auto Brands Cheaper to Insure

A new top 10 list ranks the least expensive for average full insurance coverage on a clean driving record and high driver credit scores.

Read More →
Ad Loading...
F&IFebruary 13, 2026

Business Office Blueprint

Try following these 20 steps to greater success in the dealer F&I office this year.

Read More →