Questions are the Answer for Millennials in Auto Finance

Millennial Car Buying

The next generation of car buyers is walking through showroom doors with mounds of student debt and thin credit files, making creditworthiness particularly challenging to discern. For dealers looking to better serve the swiftly growing millennial market, Equifax’s resident auto marketing expert Jenn Reid recently shared practical advice with Car Biz Today on how to help align this growing customer base with the [Read More...]

Keep Customers from Selling Themselves Short

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A common misconception in auto lending is that there’s a high propensity for customers to overstate their income. In reality, what Equifax has found is that around 25% of borrowers overstate their income while 75% actually under-report what they make. In either scenario, getting an accurate representation of employment and income data eliminates many uncertainties in the [Read More...]

Auto Market Revels in Record Vehicle Loan Totals: A Breakdown of the Recent National Consumer Credit Trends Report

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Auto Market Revels in Record Vehicle Loan Totals: A Breakdown of the Recent National Consumer Credit Trends Report

A Week of Innovation and Leadership in the Used-Vehicle Industry

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The Equifax team is gearing up as the countdown begins to Used Car Week at Red Rock Casino, Resort & Spa in Las Vegas, Nevada November 10-14. This week-long event hosts four outstanding conferences in one: CPO: The Pre-Owned Conference – Nov. 10 & 11 SP: The SubPrime Forum – Nov. 10-12 Re3: Recovery, Repossession, [Read More...]

Beyond Credit Scores in Subprime Auto Loans

auto trust verify subprime

We’re gearing up for Used Car Week in Las Vegas Nov. 10-14 and all things subprime vehicle lending. Even with more stringent and strict regulatory enforcement by the Consumer Financial Protection Bureau, subprime auto loans account for about 32% of approved originations. As the subprime vehicle market continues to grow, “trust but verify” is good [Read More...]

Tips for Auto Dealers Working with First-Time Buyers

Best Practices in Auto Lending for Thin/No-File Millennial Customers

Thin-file/no-file millennials can be a difficult demographic to appeal to. Here are some best practices for lending to this important population.

Webinar: How Credit Unions Can Compete More Effectively in Today’s Automotive Lending Environment

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Join CU Direct and Equifax to learn how credit unions can compete more effectively in today’s automotive lending environment.

Is the Subprime Auto Market Creating a Bubble?

Data shows that subprime auto lending may not be creating the next bubble.

Is subprime auto lending creating the next bubble? Analysis of data by economists Amy Crew Cutts and Dennis Carlson suggests otherwise.

Subprime Auto Lenders Discover New Tools for Expanding Business While Reducing Risk

Leveraging multi-source data can help subprime auto lenders experience lift without added risk.

Subprime auto lenders can take advantage of new tools for expanding their business while reducing risk. Learn what one lender did to get ahead.

Webinar: Credit Trends and Business Intelligence for Automotive Lenders: Improve Your Competitive Position in the Market

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Business intelligence is critical to staying ahead of the competition – now and into the future. Are you leveraging the latest business insights to better understand your market situation? Don’t miss this opportunity to get the latest market intelligence from Moody’s Analytics and learn how you can compete more effectively in today’s competitive automotive environment. [Read More...]