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Auto Finance Industry’s Growth Faces Challenges in 2014

All in all, it appears that 2013 was a year of major growth in the auto finance field. Originations grew by 30%, and Loans/Lease products grew by 14% among the top 100 financial institutions. Marcie Belles, Vice President of Auto-Finance at Auto Finance Advisors, speculates that 2014’s growth will be challenged by tough competition and regulations.

Auto Finance Advisors, in conjunction with Auto Finance News, has published an annual report titled The Auto Finance Big Wheels Report since 1999, which tabulates both proprietary and public data from the Auto lending and leasing industry to calculate rankings of the top 100 auto finance companies. These top 100 companies financed receivables increased from $398.7 billion in 2012 to $447.4 in 2013.

Belles, the author of the report, believes 2014 is a transitional year for auto finance. She stated,

“There are more question marks about the market in 2014 than there have been in the past several years.”

She also acknowledged 2013 as a remarkable year for growth in the auto finance industry.

Read the full article here:
http://www.autofinancenews.net/auto-finance-outstandings-hit-record-822-1-billion-in-2013/

About the Author

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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