This year’s conference will feature Patrice Ficklin, assistant director of the CFPB’s Office of Fair Lending, as well as a candid discussion between executives from GM Financial, Toyota Financial Services and Chase Auto Finance.
Jeffrey Anderson has joined Polk as director of market reporting solutions. He formerly served as director of consulting and analytics at Experian Automotive.
The ‘Father of the F&I Menu’ weighs in on leasing’s second-quarter boom. He also lays out six products that need to be on your lease menu.
According to the latest report from Experian Automotive, interest rates for auto loans fell to an all-time low in the third quarter, while the average amount financed reached its highest level since 2008.
In the third quarter, outstanding balances on automotive loans reached $782.9 billion, up $103 billion from the third quarter 2012.
Not only is the number of vehicles on the road today at its highest level since 2008, the average age of the current fleet increased a full year from four years ago, Experian Automotive reports.
Experian Automotive reports that 84.5 percent of consumers used a loan or a lease to purchase a new vehicle in the second quarter, with leasing accounting for 27.64 percent of all new vehicles financed during the quarter.
In addition to record-low repossessions, 30-day delinquencies drop and 60-day delinquencies remain flat as the auto finance market stays strong.
Auto finance continues to balance the need to manage risk with the need to fuel the industry’s resurgence. So far, so good, according to Experian Automotive’s latest report.
Experian Automotive's AutoCheck dealer subscribers will be able to access Experian vehicle history reports on the AutoTrader.com site starting in September.
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