May 31, 2018 - Industry News
The dream of owning a new vehicle is becoming more elusive for the average American consumer, with the average amount financed and monthly payment for a new vehicle climbing to record highs of $31,455 and $523, respectively.
Tags: auto finance, average finance amount, average monthly payment, Experian Automotive, interest rates, prime, subprime
December 13, 2017 - Industry News
Replacement demand from hurricanes Harvey and Irma should provide a temporary boost in new-vehicle demand to open 2018, but TransUnion officials said consumers will shift toward the used-vehicle market as finance sources continue to tighten credit underwriting standards.
Tags: auto finance, average finance amount, deliquencies, Subprime Financing, TransUnion
July 6, 2017 - Industry News
At a record 69.3 months, average new-vehicle finance terms have stretched 6.8% from five years ago. The average amount financed and average monthly payment also registered new highs.
Tags: average finance amount, average term, average transaction price, Monthly Payments
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