Tag Archives: Experian’s Q3 2018 State of the Automotive Finance Market

Some look to vehicle affordability trends – or lack thereof – as a driving force behind consumer choices. The monthly payments for new and used vehicles again reached record highs in Q3 – $530 and $381, respectively – and the gap between new and used monthly payments continues to widen, reaching $149. The difference between leasing and buying on roughly the top Ten sellers is about $100 a month less for leasing. The average loan is now 72 months, but consumers on average change vehicle every 34-36 months. Continue reading →