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Loan terms in the first quarter 2014 stretched to their highest level since the company began publicly reporting the data in 2006.
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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.
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Finance companies are buying deeper, and car buyers are rewarding them with timely payments. Credit expert breaks down the numbers for the second quarter.
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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.
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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.
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Like previous quarters, the third quarter saw finance sources continuing to delve deeper into the credit spectrum. But is this good for the industry?
Read More →The 84-month payment option is now available to eligible customers in Maryland, New Hampshire, Pennsylvania and Washington, D.C.
Read More →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.
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Below-prime financing surpassed pre-recession levels in the second quarter. But is this trend dangerous for the future health of auto finance?
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