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Who Buys Source

Profiling adults 18+ whose most recent vehicle purchase was financed through either a commercial bank, auto dealer/manufacturer or credit union:
 

GfK MRI, 2013

Of those adults 18+ whose most recent vehicle purchase was financed through a commercial bank, 51.2% were women and 48.8% were men.

GfK MRI, 2013

Adults 18+ whose most recent vehicle purchase was financed through a commercial bank, by age group: 18-24, 9.5%; 25-34, 18.6%; 35-44, 19.2%; 45-54, 21.0%; 55-64, 15.8%; 65+, 15.9%.

GfK MRI, 2013

Adults 18+ whose most recent vehicle purchase was financed through a commercial bank, by income level: $100,000+, 28.7%; $75-99,999, 17.1%; $60-74,999, 13.1%; $50-59,999, 9.4%; $40-49,999, 8.4%; $30-39,999, 8.7%; $20-29,999, 6.7%; under $20,000, 7.9%.

GfK MRI, 2013

Adults 18+ whose most recent vehicle purchase was financed through a commercial bank, by race: White, 82.4%; Black, 8.6%; Other, 9.0%; Hispanic origin, 11.2%.

GfK MRI, 2013

Adults 18+ whose most recent vehicle purchase was financed through a commercial bank, by region: Northeast, 16.5%; Midwest, 24.6%; South, 41.6%; West, 17.3%.

GfK MRI, 2013

Adults 18+ whose most recent vehicle purchase was financed through a commercial bank, by marital status: Single, 22.2%; married, 60.4%; separated/widowed/divorced, 17.4%.

GfK MRI, 2013

Of those adults 18+ whose most recent vehicle purchase was financed through an auto dealer/manufacturer, 51.0% were women and 49.0% were men.

GfK MRI, 2013

Adults 18+ whose most recent vehicle purchase was financed through an auto dealer/manufacturer, by age group: 18-24, 9.4%; 25-34, 17.9%; 35-44, 19.5%; 45-54, 21.7%; 55-64, 18.0%; 65+, 13.5%.

GfK MRI, 2013

Adults 18+ whose most recent vehicle purchase was financed through an auto dealer/manufacturer, by income bracket: $100,000+, 33.4%; $75-99,999, 16.0%; $60-74,999, 12.2%; $50-59,999, 8.8%; $40-49,999, 8.5%; $30-39,999, 7.7%; $20-29,999, 7.4%; under $20,000, 6.0%.

GfK MRI, 2013

Adults 18+ whose most recent vehicle purchase was financed through an auto dealer/manufacturer, by race: White, 78.0%; Black, 9.5%; Other, 12.5%; Hispanic origin, 12.2%.

GfK MRI, 2013

Adults18+ whose most recent vehicle purchase was financed through an auto dealer/manufacturer, by region: Northeast, 19.0%; Midwest, 20.9%; South, 39.5%; West, 20.6%.

GfK MRI, 2013

Adults 18+ whose most recent vehicle purchase was financed through an auto dealer/manufacturer, by marital status: Single, 22.1%; married, 61.8%; separated/widowed/divorced, 16.1%.

GfK MRI, 2013

Of those adults 18+ whose most recent vehicle purchase was financed through a credit union, 52.9% were women and 47.1% were men.

GfK MRI, 2013

Adults 18+ whose most recent vehicle purchase was financed through a credit union, by age level: 18-24, 7.4%; 25-34, 17.5%; 35-44, 16.9%; 45-54, 22.1%; 55-64, 20.7%; 65+, 15.4%.

GfK MRI, 2013

Adults 18+ whose most recent vehicle purchase was financed through a credit union, by income bracket: $100,000+, 34.2%; $75-99,999, 18.8%; $60-74,999, 12.4%; $50-59,999, 8.0%; $40-49,999, 7.8%; $30-39,999, 7.7%; $20-29,999, 6.1%; under $20,000, 5.0%.

GfK MRI, 2013

Adults 18+ whose most recent vehicle purchase was financed through a credit union, by race: White, 82.1%; Black, 7.5%; Other, 10.4%; Hispanic origin, 9.5%.

GfK MRI, 2013

Adults 18+ whose most recent vehicle purchase was financed through a credit union, by region: Northeast, 12.1%; Midwest, 22.6%; South, 35.5%; West, 29.8%.
 

GfK MRI, 2013

Adults 18+ whose most recent vehicle purchase was financed through a credit union, by marital status: Single, 17.7%; married, 66.0%; separated/widowed/divorced, 16.3%.

GfK MRI, 2013

When They Buy Source

Loan activity is reflected in monthly sales figures for all new and used vehicle dealers (3-year average, 2011-2013): January, 7.3%; February, 7.8%; March, 9.0%; April, 8.4%; May, 8.8%; June, 8.4%; July, 8.6%; August, 9.0%; September, 8.0%; October, 8.2%; November, 7.9%; December, 8.6%.

U.S. Department of Commerce, 2014


How They Buy Source

The average monthly payment for new-vehicle loans in the fourth quarter of 2013 was $471 (up from $460 in the final quarter of 2012), while the average monthly payment on used-vehicle loans was $352 in the fourth quarter of 2013 (compared to $348 in 2012).

Experian Automotive, 2014

The average amount financed for new-vehicle loans in the fourth quarter of 2013 was $27,430 (up from $26,691 in the fourth quarter of 2012), while the average amount financed for used-vehicle loans was $17,974 (up from $17,629 the previous year).

Experian Automotive, 2014

The average amount financed for new-vehicle loans in the fourth quarter of 2013, by risk category: Super Prime, $25,880; Prime, 28,802; Nonprime, $29,385; Subprime, $27,828; Deep Subprime, $25,428. 

Experian Automotive, 2014

The average amount financed for used-vehicle loans in the fourth quarter of 2013, according to risk category: Super Prime, $19,367; Prime, $19,316; Nonprime, $18,384; Subprime, $16,368; Deep Subprime, $14,410.

Experian Automotive, 2014

What They Buy Source

In the fourth quarter of 2013, used vehicles accounted for 62.5% of total vehicle loans, while new vehicles accounted for the remaining 37.5%.

Experian Automotive, 2014

Where They Buy Source

The top 15 lenders for new-vehicle (retail) loans in the fourth quarter of 2013 (share of overall market): 1. Toyota, 8.3%; 2. Ford, 8.2%; 3. Honda, 8.0%; 4. Chase, 6.4%; 5. Nissan/Infiniti, 6.3%; 6. Ally, 5.9%; 7. Capital One, 4.4%; 8. Wells Fargo, 4.0%; 9. Chrysler, 2.8%; 10. Hyundai, 2.5%; 11. US Bank, 1.9%; 12. World Omni, 1.9%; 13. Bank of America, 1.8%; 14. TD Auto Finance, 1.8%; 15. PNC Bank, 1.7%.

Experian Automotive, 2014

Share of loans for new vehicles in the fourth quarter of 2013, by source: Auto manufacturer captives, 41.2%; banks, 41.1%; credit unions, 12.8%; finance companies, 4.7%; buy-here-pay-here dealers, 0.2%.

Experian Automotive, 2014

The top 15 lenders for used-vehicle loans in the fourth quarter of 2013 (share of overall market): 1. Wells Fargo, 6.8%; 2. Capital One, 3.9%; 3. Ally, 3.8%; 4. Chase, 3.8%; 5. Toyota, 2.4%; 6. Santander, 2.2%; 7. Carmax, 1.6%; 8. Credit Acceptance, 1.5%; 9. Bank of America, 1.4%; 10. 5th Third Bank, 1.2%; 11. USAA, 1.0%; 12. Huntington, 1.0%; 13. Chrysler Capital, 1.0%; 14. BMW Bank, 1.0%; 15. TD Auto Finance, 0.9%.

Experian Automotive, 2014

Share of loans for used vehicles made during the fourth quarter of 2013, by source: Banks, 36.3%; credit unions, 22.4%; finance companies, 20.1%; buy-here-pay-here dealers, 13.6%; auto manufacturer captives, 7.6%.

Experian Automotive, 2014

Of the total financing provided for used vehicles in the fourth quarter of 2013, 54.7% of the loans were made through franchised auto dealers, while 45.3% were arranged by independent dealers.

Experian Automotive, 2014

According to the J.D. Power 2013 U.S. Consumer Financing Satisfaction Study, which measures customer satisfaction across three key factors of the new-vehicle financing experience (billing and payment process, website, and phone contact), lenders that finished above the industry average of 835 in the Luxury Segment: Lincoln Automotive Financial Services, 875; BMW Financial Services, 872; Lexus Financial Services, 860; Audi Financial Services, 850; Mercedes-Benz Financial Services, 845; and Acura Financial Services, 843.

J.D. Power and Associates, 2013

According to the J.D. Power 2013 U.S. Consumer Financing Satisfaction Study, which measures customer satisfaction across three key factors of the new-vehicle financing experience (billing and payment process, website, and phone contact), lenders that finished at or above the industry average of 820 in the Mass Market Segment: Kia Motors Financial, 851; Volkswagen Credit, 849; Hyundai Motor Finance, 848; Ford Credit, 847; Toyota Financial Services, 842; Honda Financial Services, 838; World Omni Financial Corp., 820.

J.D. Power and Associates, 2013

Business Trends Source

Risk distribution of new-vehicle loans made in the fourth quarter of 2013: Super Prime, 44.3%; Prime, 21.6%; Nonprime, 20.3%; Subprime, 10.8%; Deep Subprime, 3.0%.

Experian Automotive, 2014

Risk distribution of used-vehicle loans made in the fourth quarter of 2013: Nonprime, 23.2%; Subprime, 22.0%; Super Prime, 19.5%; Prime, 17.7%; Deep Subprime, 17.6%.

Experian Automotive, 2014

The average credit score for new vehicles financed during the fourth quarter of 2013 was 715, down from 724 in the fourth quarter of 2012 and 728 in the final quarter of 2011. For used vehicles, the average credit score used for arranging financing in the fourth quarter of 2013 was 646, compared to 644 in the fourth quarter of 2012 andf 647 in fourth quarter 2011.

Experian Automotive, 2014

According to Experian Automotive, loans of 73 to 84 months were the fastest growing category in the fourth quarter of 2013, increasing 19.0% from the previous year.

Automotive News, 2014

The average term for new-vehicle loans in the fourth quarter of 2013 was 65 months, the same as the fourth quarter of 2012, while the average term for used-vehicle loans was 61 months in the fourth quarter of 2013 (up from 60 months the prior year).

Experian Automotive, 2014

The average rate for a new-vehicle loan in the fourth quarter of 2013 was 4.37% (up from 4.36% in 2012), while the average rate for a used-vehicle loan in the fourth quarter of 2013 was 8.71% (up from 8.48% in 2012).

Experian Automotive, 2014