ONLINE PREVIEW: Auto Finance Market Intelligence Report
Not only are used-vehicle sales going up, but more of them are being financed, as well.
Take this statistical comparison from CNW Research:
In each of the first five months of 2013, more than half of the used-vehicle sales for that particular month included financing of some sort (whether loan or lease). Last year, there were only three months where more than half of used-car sales had financing attached.
Consider this, as well.
With more than 40.5 million transactions (franchised dealers, independents and casual sales combined), 2012 marked the strongest year for the used-car market since 2007.
And this year is even hotter. Through five months, there were 15.65 million used sales across all three channels, up from 15.00 million in the first five months of 2012. For full-year 2013, CNW expects 41.25 million used sales.
Within used-car loans themselves, it also appears the credit categories outside of prime — nonprime, subprime and deep subprime — are gaining steam. According to Experian Automotive, consumers in these tiers accounted for nearly 58 percent of used loans in the first quarter.
This is just one of the many areas we explore in the special section of the July 1-14 print and digital issues of Auto Remarketing, our Auto Finance Market Intelligence Report.
We also look at how big a comeback has leasing made, the financial institutions that have the strongest footprint in the car lending space, and much more.
In both the digital and print versions of these issues, you’ll see a bevy of analyses and data from industry leaders to shed light on the growing traction within the auto financing space.
For more information, see the July 1-14 print edition and stay tuned for the digial edtion, featuring additional online content.
Joe Overby can be reached at joverby@autoremarketing.com. Continue the conversation with Auto Remarketing on both LinkedIn and Twitter.