Loan terms in the first quarter 2014 stretched to their highest level since the company began publicly reporting the data in 2006.
The unusually cold weather that impacted much of the economy didn’t slow down the auto finance industry, which reached new highs in several critical metrics.
Finance companies are buying deeper, and car buyers are rewarding them with timely payments. Credit expert breaks down the numbers for the second quarter.
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.
All signs pointed to a great fourth quarter, but there was some cause for concern — just not enough to keep cars from rolling over the curb.
Like previous quarters, the third quarter saw finance sources continuing to delve deeper into the credit spectrum. But is this good for the industry?
The 84-month payment option is now available to eligible customers in Maryland, New Hampshire, Pennsylvania and Washington, D.C.
Auto loans made to below-prime car buyers grew 13.6 percent in the third quarter, Experian Automotive reported today. Leasing also grew, which the firm says is another sign of a recovering auto finance market.
Below-prime financing surpassed pre-recession levels in the second quarter. But is this trend dangerous for the future health of auto finance?
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In