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It's always interesting to see what the latest numbers from Experian have to say about how the automotive finance market is doing, and Tuesday's presentation was no exception.
Here's a great quote from the recap on SubPrimeNews.com:
"During the first quarter of 2012, car shoppers definitely found more favorable conditions for their vehicle loans," said Melinda Zabritski, director of automotive credit for Experian. "A reduction in average credit scores, lower interest rates and a lengthening of loan terms are all very good signs for the market and offer great opportunities for consumers looking to make a deal on a new or used vehicle."
That just about sums it up.
Some other highlights:
[For access to the full presentation and recording, visit Experian Automotive's webinar page here.]
We're really excited for what this means for both the consumers who apply for loans through our network of websites and for our partners in the Carloan.com Dealer Network. They both look to be getting ready for a fantastic summer of car buying.
In the meantime - if you want to see how special finance might fit in at your store - check out our Volume Estimator to see what we have available in your market or hit us up with your questions on Twitter using our handle @carloanco. Look forward to hearing from you!