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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.
Read More →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.
Read More →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.
Read More →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.
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Auto finance volumes were up in every risk tier in the fourth quarter 2014, suggesting that concerns over the uptick in subprime loans are exaggerated.
Read More →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.
Read More →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.
Read More →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.
Read More →Experian’s new Auto Equity Model helps users estimate a consumer’s vehicle equity on an existing auto loan.
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A rise in delinquencies wasn’t cause for concern during the third quarter 2014, and all signs point to auto finance sources staying active in the quarters ahead.
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