Auto Industry Growth Led by New Lease Activity
Are you responsible for auto financing at your company? The latest statistics from creditforecast.com are out for March 2012, and the auto industry is seeing significant growth in new auto lease activity.
Total U.S. auto lease balances increased 9.0% in March compared with a year ago, more than twice the increase in auto loan balances which grew by 4.2% over the same period. Lease balances originated by auto finance companies in particular rose 11% in March versus a year ago. CreditForecast.com forecasts auto lease balances to grow at an 8% average annual rate through the end of 2017, while auto loan balances are expected to grow between 2% and 3% annually over the same period.
You can check out the full summary on Equifax.com.
This post was contributed by: Amy Crews Cutts.
Recommended For You
Did you know that 35% of U.S. households live in rental housing? It’s true.  But most renters’ on-time housing […]
Financial institutions are struggling to keep up with evolving fraud tactics. They tell us their top areas of concern are […]
Since the last U.S. recession in 2008, financial risk management has seen significant changes. Lending requirements are tighter, verification procedures […]
This question sounds absurd. But this is one of the most important questions lenders must ask themselves when making consumer […]