The auto finance segment is growing at a healthy rate, but average new-vehicle loan amounts are outpacing the market, driving an increasing number of car buyers — including those with prime and superprime credit scores — out of the showroom and onto the used-car lot.
July 18, 2019
The Federal Reserve Bank of New York’s Q1 U.S. household debt report finds auto loan and lease originations declined slightly year-over-year — except for sub-620 customers — while 90-day delinquencies grew by 9.2%.
May 21, 2019
Thirty- and 60-day delinquencies remained fairly stable in the fourth quarter, while affordability rightfully remains a key point of discussion among dealers and auto finance sources.
April 11, 2019
Affordability remains a concern despite finance sources continuing to tighten underwriting standards, according to the firm. Consumers, however, seem unfazed, with outstanding balances climbing to a new record high.
August 30, 2018
The firm attributed the slowdown to improvements in oil states and tightening underwriting guidelines, which have also helped stabilize delinquency rates.
May 14, 2018
Originations continued to fall at a faster rate than previous years, as finance sources continued to tighten underwriting standards during 2017’s end-of-year quarter. TransUnion officials, however, say the sector is performing well as the economy remains relatively strong.
February 22, 2018
Credit scores in the fourth quarter of 2017 were only a half a point higher than the median score recorded during the first quarter of 2009. And according to the Federal Reserve Bank of New York, 2017 auto loan origination volume reached the highest level it has ever observed.
February 15, 2018
Third-quarter data from Experian Automotive shows that the auto finance market gained strength and stability, but mostly at the expense of subprime originations.
January 16, 2018
For the fourth consecutive quarter, auto loan originations in the second quarter decreased on a year-over-year basis. Much of that decline was driven a 5.9% decrease in subprime, nearprime, and prime loan originations.
November 21, 2017
The auto finance market is a trillion-dollar industry. It’s also very much a prime market, with subprime financing remaining at near-record lows in the second quarter.
October 11, 2017
The feat comes almost nine years after the Great Recession, when household debt reached $12.68 trillion. But the debt and its borrowers look quite different today, the New York Fed noted, and auto finance sources showed signs of tightening in response to some deterioration in auto loan performance.
May 18, 2017
The average household is on the verge of being priced out of the new-vehicle market, Experian’s fourth quarter data shows.
April 10, 2017
We hate to burst your bubble, but there is no bubble to burst. Auto finance expert breaks down the third-quarter results.
January 9, 2017
Transunion projects the auto loan delinquency rate for consumers with payments 60 or more days past due to close the year at 1.4%, the highest level since year-end 2009. Even with this increase, TransUnion said delinquency rates will remain well below levels observed during the last recession.
December 14, 2016
CU Direct's credit union network was the No. 3 auto loan originator in the first quarter. However, the network posted the highest year-over-year growth in auto originations.
August 18, 2016