Experian: Financing for Used, New Vehicles Keeps Converging

SubPrime Auto Finance News - August 31, 2011

In dis­cus­sion of its sec­ond quar­ter data, Exper­ian point­ed out that used-vehi­cle prices are mov­ing steadi­ly clos­er to the price buy­ers might pay for a new mod­el. The aver­age amount financed for used vehi­cles in the sec­ond quar­ter was $17,602, or 67.6% of the aver­age amount financed for new vehi­cles, said Melin­da Zabrit­s­ki, Experian’s Direc­tor of Auto­mo­tive Cred­it. In the sec­ond quar­ter of 2010, that per­cent­age was 65.74%, and in 2009 it was 63.9%. Accord­ing to Zabrit­s­ki, this trend may be push­ing used-vehi­cle buy­ers to the new-vehi­cle mar­ket.