Post Tagged with: "Experian"

Consumers Show Increased Appetite for ‘Cheap Finance,’ Report Finds

Consumers Show Increased Appetite for ‘Cheap Finance,’ Report Finds

Since the downturn, the combination of attractive lease deals, pent-up consumer demand, and easy credit availability have pushed sales higher, according to an industry report by White Clarke Group released last week. Light-vehicle sales in the U.S. have delivered seven consecutive annual gains since the financial crash — marking theRead More

How Warm Is Your Welcome?

How Warm Is Your Welcome?

The most successful auto servicers know the welcome call is more than just a formality to perform when a new account comes on board. It is the first opportunity to delight and engage borrowers with your brand, capture and share information, and promote the services you provide. For a typicalRead More

Negative Equity Trade-Ins Spike to Record High, Where Do Lenders Draw the Line?

Negative Equity Trade-Ins Spike to Record High, Where Do Lenders Draw the Line?

Spurred by extending loan terms, a record-number of consumers — 31% — turned in cars with negative equity in 2016, in order to get their next vehicle, according to data from Edmunds.com. This trend, and longer-term loans, are not expected to reverse anytime soon, Greg McBride, chief analyst at Bankrate.com,Read More

CREDIT: Increase in Loans, Increase in Subprime

CREDIT: Increase in Loans, Increase in Subprime

More consumers have chosen to finance their vehicles, while lenders have dug deeper into subprime space, experts suggest. Subprime Overall, 75.6 million consumers had an auto loan in the fourth quarter 2015, according to TransUnion. The number is up 7.8% year over year – the largest YoY increase since theRead More

Tools for Helping Consumers with Their Credit Scores

Tools for Helping Consumers with Their Credit Scores

A borrower’s deal often boils down to her credit score. This matters because lender marketing often hinges on that score, too. There’s an opportunity for auto lenders to be a more valuable resource to consumers who are seeking to better understand their credit scores and borrowing potential, even though few lendersRead More