Black Book issued a white paper that suggests used leasing could be the answer to the glut of off-lease vehicles expected to return to market this year. While directed at finance sources, the white paper offers a four-step process dealers can use to identify the right vehicles for used leasing.
An Experian analysis found that out of all auto brands that sell in the United States, Jeep had the highest percentage of vehicles built domestically. According to the analysis, 96.7% of Jeeps on U.S. roads were assembled in the country.
Not only do women have higher credit scores and less debt than men, according to a new report from Experian, they are more likely to purchase a more functional, utilitarian vehicle than their male counterparts.
The former director of dealer enterprise relationships for Equifax joins the firm as vice president of credit service for the North American market, a role in which he'll oversee CreditMiner's automotive vertical.
Consumer credit defaults remained relatively stable in July, according to data from S&P Dow Jones Indices and Experian. The on exception were auto loans, which showed an increase in defaults.
The total dollar volume for outstanding automotive loan balances grew by $92 million from the second quarter of 2014 to the second quarter of 2015, the largest dollar volume growth since 2006, according to a report from Experian Automotive.
Delinquencies remained in check despite total outstanding auto loan balances rising to an all-time high, signaling a healthy automotive credit climate.
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.
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.
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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