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As Long-Term Loans Increase, Subprime Originations Follow Suit

Miners of data from Experian Automotive have discovered that financing market share and credit performance in the auto market have remained mostly unchanged for the first six months of 2012.  

For the first half of the year, subprime financing slightly rose to 14% on new cars and to seven on previously owned. Leasing, meanwhile remained at 23% market share, as the market share for financing for cars nudged up to 62% for used and 38% for new.

Many of these numbers are nearing their pre-recession levels. Talking about this, Melinda Zabritski, director of product and marketing at Experian Automotive, said, “We’re not quite where we were in pre-recession levels, but the trend is beginning to shift in a much more positive direction. There were a lot of shifts, but very slight marketshare gain.”

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The author has many years of experience in automotive finance and insurance. However, each consumer's situation is unique. It is best to contact a finance specialist for further assistance.
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