Gap Between New, Used Car Payments Widens Featured

By Staff Writer March 07, 2019 505

The gap between the average new and used monthly vehicle payments continued to widen in the fourth quarter, reaching $158, according to Experian.

Total outstanding automotive loan balances reached  $1.178 billion in the quarter.

The percentage of outstanding loan balances held by subprime and deep subprime consumers remained below 20 percent.

Loan originations to super prime consumers grew to 20.54 percent of total originations.

Leasing grew year-over-year. The percentage of new vehicles that were leased reached 28.76 percent in the fourth quarter compared to 28.28 percent in the same period a year ago.

Eight of the top 10 new leased models in the fourth quarter were crossover utility vehicles and trucks.

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Last modified on Thursday, 07 March 2019 14:13