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Tight Inventories Cause Brand Loyalty to Dip

Short supplies of new vehicles drove a dip in consumer loyalty of over 3 percentage points, according to Experian.

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Automotive Industry Sees New Vehicle Finance Shift Back to Pre-Pandemic Levels in Q2 2021

Overall, the data shows encouraging signs for the automotive finance market.

New Vehicle Financing Returning to Pre-Pandemic Levels

Inventory shortages continue to push average loan amounts and monthly payments for used vehicles higher.

Experian Announces New Employer Services Business and Real-Time Income and Employment Verification Solution

New Experian services support employers, human resources, corporate tax and payroll professionals while improving experiences for consumers and lenders.

Automotive Finance Industry Shows Consistency in Q4 2020 Despite Disruptions

Overall, the automotive finance market has remained resilient, despite the pandemic. Staying close to the data will help lenders ensure they have the right options available to fit consumers’ needs and budgets.

Utilizing Vehicle History to Minimize Portfolio Risk

Incorporating vehicle history reports into the lending decisions can help uncover hidden issues with the vehicle and adjust loan terms accordingly.

Q3 2020 Finance Trends Demonstrate Automotive Industry’s Resilience

As we look at the market in Q3, there were a number of notable statistics that can help lenders identify trends and inform strategy.

New Experian Report Shows Auto Industry Continued to Rebound in Q3

Despite smaller percentage of financed vehicles, outstanding loan balances grew 2.8% year-over-year to more than $1.2 trillion.

Despite the Initial Impact of COVID-19, the Automotive Industry Shows Positive Signs In Q2 2020

The average loan amount for a new vehicle jumps $4,000; however, the average monthly payment remains steady.

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Auto Industry Rebounds, Despite Early COVID-19 Challenges

The more insight lenders have into the current market, the better positioned they will be to present car shoppers with financing options that meet consumers’ unique circumstances.

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