At A Glance
It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.Paragraph Block- is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
Heading 2
Heading 3
Heading 4
Heading 5
- This is a list
- Item 1
- Item 2
- Sub list
- Sub list 2
- Sub list 3
- More list
- More list 2
- More list 3
- More more
- More more
This is the pull quote block Lorem Ipsumis simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s,
ExperianThis is the citation
This is the pull quote block Lorem Ipsumis simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s,
ExperianThis is the citation
| Table element | Table element | Table element |
| my table | my table | my table |
| Table element | Table element | Table element |
Media Text Block
of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum
My Small H5 Title
My first column title
Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
My second column title
Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
In a May 4 speech before the ACA International Conference in Washington, FCC Commissioner Michael O’Rielly criticized the FCC’s past decisions on Telephone Consumer Protection Act (TCPA) and outlined his vision on the direction that the new Commission should head to provide more certainty to businesses. Commissioner O’Rielly noted that prior decisions by the FCC and courts have “expanded the boundaries of TCPA far beyond what I believe Congress intended.” He said that the new leadership at the Commission and a new Bureau head overseeing TCPA, provides the FCC with the opportunity to “undo the misguided and harmful TCPA decisions of the past that exposed legitimate companies to massive legal liability without actually protecting consumers.” O’Rielly laid out three principles that he thought would help to frame discussions and guide the development of replacement rules. First, he said that legitimate businesses need to be able to contact consumers to communicate information that they want, need or expect to receive. This includes relief for informational calls, as well as valid telemarketing calls or texts. Second, Commissioner O’Rielly said that FCC should change the definition of an autodialer so that valid callers can operate in an efficient manner. He went on to say that if FCC develops new rules to clarify revocation of consent, it should do so in a clear and convenient way for consumers, but also does not upend standard best practices of legitimate companies. Third, O’Rielly said that the FCC should focus on actual harms and bad actors, not legitimate companies. While Commissioner O’Rielly’ s comments signal his approach to TCPA reform, it is important to note that FCC action on the issue us unlikely to happen overnight. A rule must be considered by the Commission, which will have to allow for public notice and comment. Experian will continue to monitor regulatory and legislative developments on TCPA.
As we enter May, a month dedicated to recognizing our U.S. Armed Forces, it’s only fitting to think about how we are honoring this special group of people. Yes, there will likely be car deals, coupons, and even a few beautiful ceremonies, but as both lawmakers and leaders have recognized, these individuals and their families deserve protections every day. Especially in the financial services universe. There should be no exorbitant fees. No excessively high interest rates. And when they are called to active-duty, they should have avenues to ease their financial commitments and/or exit out of lease agreements. Thankfully, the Servicemembers Civil Relief Act (SCRA) and a strengthened Military Lending Act (MLA) were introduced to help. In fact, we are in year one of the enhanced MLA Final Rule in which compliance was mandated by Oct. 3, 2016. The extended MLA protections include a 36% Military Annual Percentage Rate (MAPR) cap to a wider range of credit products, including payday loans, vehicle title loans, refund application loans, deposit advance loans, installment loans and unsecured open-end lines of credit. The cap additionally applies to fees tacked on for credit-related ancillary products including finance charges and certain application and participation fees. The amended rule covers credit offered or extended to active-duty service members and their dependents, if the credit is subject to a finance charge or is payable by written agreement in more than four installments. And finally, one of the most important additions is that creditors must verify active-duty and dependents at origination. Right now, this can be accomplished by either working with a bureau, like Experian, or by vetting lists directly with the Department of Defense’s (DOD) own database. To continue to help with client need, the bureaus are working with the DOD and financial institutions to ensure alignment in delivery of military member and dependent data for a consistent, immediate and accurate MLA verification process. While much has been introduced over the past year to strengthen protections, there is still more to come. The compliance date for credit cards is Oct. 3, 2017. To date, the MLA status of millions upon millions of consumer credit applications have been verified, ensuring our military members and their dependents receive the financial protections they are entitled to under law. There are roughly 3.4 million military members and dependents in the MLA database, and this is an audience who sacrifices a great deal for our country. Thankfully, protections are finally being enforced to ensure they are taken care of too.
New Experian survey explores consumer satisfaction with AirPods and other voice-first hardware Conversational user interfaces are now mainstream. Last year, my colleague Cherian Abraham and I partnered with Ben Bajarin and Carolina Milanesi of Creative Strategies to explore how consumers were using the Amazon Echo, an innovative product featuring Alexa, Amazon’s first-generation voice assistant. Given the extremely positive reception the Echo was receiving at the time, we wanted to learn what resonated with consumers as they interacted with their Echo (2016 Experian results can be found here). At the same time, we wanted to see how that compared to behavior with existing digital assistants in the market. Interested in how a voice-driven experience can resonate with your customers? Learn more about our latest in voice research Experian and Creative Strategies launch 2017 Voice-Assistant Survey Today, we are excited to announce that Experian and Creative Strategies have teamed up for the second year focusing on the consumer adoption of new products in the space including Apple’s AirPods and Google Home in addition to the Amazon Echo and Echo Dot. We also explored consumer interest in financial services products offered through voice interfaces. Ben, from Creative Strategies, wrote about our Experian Voice survey highlighting the breakout customer satisfaction success for Apple AirPods today. Voice-first devices see continued momentum In the coming weeks, Cherian and I will be sharing more of our insights from the rich data in our survey. Additionally, we will be presenting on the topic at the upcoming Experian Vision Conference on May 10th. Topics that we will cover include: What is driving the 98% customer satisfaction rating for Apple AirPods, and why the Net Promoter Score of 75 is even more impressive Insights on the 47% of consumers interested in using voice assistants like Alexa, Siri and Google Assistant for financial services applications Amazon’s success in penetrating new parts of the home with the Echo Dot and driving commerce via voice purchases If you are interested in learning more about our research, please provide your information here.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Phasellus at nisl nunc. Sed et nunc a erat vestibulum faucibus. Sed fermentum placerat mi aliquet vulputate. In hac habitasse platea dictumst. Maecenas ante dolor, venenatis vitae neque pulvinar, gravida gravida quam. Phasellus tempor rhoncus ante, ac viverra justo scelerisque at. Sed sollicitudin elit vitae est lobortis luctus. Mauris vel ex at metus cursus vestibulum lobortis cursus quam. Donec egestas cursus ex quis molestie. Mauris vel porttitor sapien. Curabitur tempor velit nulla, in tempor enim lacinia vitae. Sed cursus nunc nec auctor aliquam. Morbi fermentum, nisl nec pulvinar dapibus, lectus justo commodo lectus, eu interdum dolor metus et risus. Vivamus bibendum dolor tellus, ut efficitur nibh porttitor nec. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Maecenas facilisis pellentesque urna, et porta risus ornare id. Morbi augue sem, finibus quis turpis vitae, lobortis malesuada erat. Nullam vehicula rutrum urna et rutrum. Mauris convallis ac quam eget ornare. Nunc pellentesque risus dapibus nibh auctor tempor. Nulla neque tortor, feugiat in aliquet eget, tempus eget justo. Praesent vehicula aliquet tellus, ac bibendum tortor ullamcorper sit amet. Pellentesque tempus lacus eget aliquet euismod. Nam quis sapien metus. Nam eu interdum orci. Sed consequat, lectus quis interdum placerat, purus leo venenatis mi, ut ullamcorper dui lorem sit amet nunc. Donec semper suscipit quam eu blandit. Sed quis maximus metus. Nullam efficitur efficitur viverra. Curabitur egestas eu arcu in cursus. H1 asdf asdf H2 H3 H4 Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vestibulum dapibus ullamcorper ex, sed congue massa. Duis at fringilla nisi. Aenean eu nibh vitae quam auctor ultrices. Donec consequat mattis viverra. Morbi sed egestas ante. Vivamus ornare nulla sapien. Integer mollis semper egestas. Cras vehicula erat eu ligula commodo vestibulum. Fusce at pulvinar urna, ut iaculis eros. Pellentesque volutpat leo non dui aliquet, sagittis auctor tellus accumsan. Curabitur nibh mauris, placerat sed pulvinar in, ullamcorper non nunc. Praesent id imperdiet lorem. H5 Curabitur id purus est. Fusce porttitor tortor ut ante volutpat egestas. Quisque imperdiet lobortis justo, ac vulputate eros imperdiet ut. Phasellus erat urna, pulvinar id turpis sit amet, aliquet dictum metus. Fusce et dapibus ipsum, at lacinia purus. Vestibulum euismod lectus quis ex porta, eget elementum elit fermentum. Sed semper convallis urna, at ultrices nibh euismod eu. Cras ultrices sem quis arcu fermentum viverra. Nullam hendrerit venenatis orci, id dictum leo elementum et. Sed mattis facilisis lectus ac laoreet. Nam a turpis mattis, egestas augue eu, faucibus ex. Integer pulvinar ut risus id auctor. Sed in mauris convallis, interdum mi non, sodales lorem. Praesent dignissim libero ligula, eu mattis nibh convallis a. Nunc pulvinar venenatis leo, ac rhoncus eros euismod sed. Quisque vulputate faucibus elit, vitae varius arcu congue et. Ut maximus felis quis diam accumsan suscipit. Etiam tellus erat, ultrices vitae molestie ut, bibendum id ipsum. Aenean eu dolor posuere, tincidunt libero vel, mattis mauris. Aliquam erat volutpat. Sed sit amet placerat nulla. Mauris diam leo, iaculis eget turpis a, condimentum laoreet ligula. Nunc in odio imperdiet, tincidunt velit in, lacinia urna. Aenean ultricies urna tempor, condimentum sem eget, aliquet sapien. Ut convallis cursus dictum. In hac habitasse platea dictumst. Ut eleifend eget erat vitae tempor. Nam tempus pulvinar dui, ac auctor augue pharetra nec. Sed magna augue, interdum a gravida ac, lacinia quis erat. Pellentesque fermentum in enim at tempor. Proin suscipit, odio ut lobortis semper, est dolor maximus elit, ac fringilla lorem ex eu mauris. Phasellus vitae elit et dui fermentum ornare. Vestibulum non odio nec nulla accumsan feugiat nec eu nibh. Cras tincidunt sem sed lacinia mollis. Vivamus augue justo, placerat vel euismod vitae, feugiat at sapien. Maecenas sed blandit dolor. Maecenas vel mauris arcu. Morbi id ligula congue, feugiat nisl nec, vulputate purus. Nunc nec aliquet tortor. Maecenas interdum lectus a hendrerit tristique. Ut sit amet feugiat velit. Test Yes asedtsdfd asdf asdf adsf Related Posts
With the National Automobile Dealers Association (NADA) Show set to kickoff later this week, it seemed fitting to explore how the shifting dynamics of the used vehicle market might impact dealers and buyers over the coming year. Shedding light on some of the registration and finance trends, as well as purchasing behaviors, can help dealers and manufacturers stay ahead of the curve. And just like that, the Special Report: Automotive Consumer Trends Report was born. As I was sifting through the data, one of the trends that stood out to me was the neck-and-neck race between Millennials and Gen X for supremacy in the used vehicle market. Five years ago, in 2019, Millennials were responsible for 33.3% of used retail registrations, followed by Gen X (29.5%) and Baby Boomers (26.8%). Since then, Baby Boomers have gradually fallen off, and Gen X continues to close the already minuscule gap. Through October 2024, Millennials accounted for 31.6%, while Gen X accounted for 30.4%. But trends can turn on a dime if the last year offers any indication. Over the last rolling 12 months (October 2023-October 2024), Gen X (31.4%) accounted for the majority of used vehicle registrations compared to Millennials (30.9%). Of course, the data is still close, and what 2025 holds is anyone’s guess, but understanding even the smallest changes in market share and consumer purchasing behaviors can help dealers and manufacturers adapt and navigate the road ahead. Although there are similarities between Millennials and Gen X, there are drastic differences, including motivations and preferences. Dealers and manufacturers should engage them on a generational level. What are they buying? Some of the data might not come as a surprise but it’s a good reminder that consumers are in different phases of life, meaning priorities change. Over the last rolling 12 months, Millennials over-indexed on used vans, accounting for more than one-third of registrations. Meanwhile, Gen X over-indexed on used trucks, making up nearly one-third of registrations, and Gen Z over-indexed on cars (accounting for 17.1% of used car registrations compared to 14.6% of overall used vehicle registrations). This isn’t surprising. Many Millennials have young families and may need extra space and functionality, while Gen Xers might prefer the versatility of the pickup truck—the ability to use it for work and personal use. On the other hand, Gen Zers are still early in their careers and gravitate towards the affordability and efficiency of smaller cars. Interestingly, although used electric vehicles only make up a small portion of used retail registrations (less than 1%), Millennials made up nearly 40% over the last rolling 12 months, followed by Gen X (32.2%) and Baby Boomers (15.8%). The market at a bird’s eye view Pulling back a bit on the used vehicle landscape, over the last rolling 12 months, CUVs/SUVs (38.9%) and cars (36.6%) accounted for the majority of used retail registrations. And nearly nine-in-ten used registrations were non-luxury vehicles. What’s more, ICE vehicles made up 88.5% of used retail registrations over the same period, while alternative-fuel vehicles (not including BEVs) made up 10.7% and electric vehicles made up 0.8%. At the finance level, we’re seeing the market shift ever so slightly. Since the beginning of the pandemic, one of the constant narratives in the industry has been the rising cost of owning a vehicle, both new and used. And while the average loan amount for a used non-luxury vehicle has gone up over the past five years, we’re seeing a gradual decline since 2022. In 2019, the average loan amount was $22,636 and spiked $29,983 in 2022. In 2024, the average loan amount reached $28,895. Much of the decline in average loan amounts can be attributed to the resurgence of new vehicle inventory, which has resulted in lower used values. With new leasing climbing over the past several quarters, we may see more late-model used inventory hit the market in the next few years, which will most certainly impact used financing. The used market moving forward Relying on historical data and trends can help dealers and manufacturers prepare and navigate the road ahead. Used vehicles will always fit the need for shoppers looking for their next vehicle; understanding some market trends will help ensure dealers and manufacturers can be at the forefront of helping those shoppers. For more information on the Special Report: Automotive Consumer Trends Report, visit Experian booth #627 at the NADA Show in New Orleans, January 23-26.
The automotive industry is constantly changing. Shifting consumer demands and preferences, as well as dynamic economic factors, make the need for data-driven insights more important than ever. As we head into the National Automobile Dealers Association (NADA) Show this week, we wanted to explore some of the trends in the used vehicle market in our Special Report: State of the Automotive Finance Market Report. Packed with valuable insights and the latest trends, we’ll take a deep dive into the multi-faceted used vehicle market and better understand how consumers are financing used vehicles. 9+ model years grow Although late-model vehicles tend to represent much of the used vehicle finance market, we were surprised by the gradual growth of 9+ model year (MY) vehicles. In 2019, 9+MY vehicles accounted for 26.6% of the used vehicle sales. Since then, we’ve seen year-over-year growth, culminating with 9+MY vehicles making up a little more than 30% of used vehicle sales in 2024. Perhaps more interesting though, is who is financing these vehicles. Five years ago, prime and super prime borrowers represented 42.5% of 9+MY vehicles, however, in 2024, those consumers accounted for nearly 54% of 9+MY originations. Among the more popular 9+MY segments, CUVs and SUVs comprised 36.9% of sales in 2024, up from 35.2% in 2023, while cars went from 44.3% to 42.9% year-over-year and pickup trucks decreased from 15.9% to 15.6%. 2024 highlights by used vehicle age group To get a better sense of the overall used market, the segments were broken down into three age groups—9+MY, 4-8MY, and current +3MY—and to no surprise, the finance attributes vary widely. While we’ve seen the return of new vehicle inventory drive used vehicle values lower, it could be a sign that consumers are continuing to seek out affordable options that fit their lifestyle. In fact, the average loan amount for a 9+MY vehicle was $19,376 in 2024, compared to $24,198 for a vehicle between 4-8 years old and $32,381 for +3MY vehicle. Plus, more than 55% of 9+MY vehicles have monthly payments under $400. That’s not an insignificant number for people shopping with the monthly payment in mind. In 2024, the average monthly payment for a used vehicle that falls under current+3MY was $608. Meanwhile, 4-8MY vehicles came in at an average monthly payment of $498, and 9+MY vehicles had a $431 monthly payment. Taking a deeper dive into average loan amounts based on specific vehicle types—as of 2024, current +3MY cars came in at $28,721, followed by CUVs/SUVs ($31,589) and pickup trucks ($40,618). As for 4-8MY vehicles, cars came in with a loan amount of $22,013, CUVs/SUVs were at $23,133, and pickup trucks at $31,114. Used 9+MY cars had a loan amount of $19,506, CUVs/SUVs came in at $17,350, and pickup trucks at $22,369. With interest rates remaining top of mind for most consumers as we’ve seen them increase in recent years, understanding the growth from 2019-2024 can give a holistic picture of how the market has shifted over time. For instance, the average interest rate for a used current+3MY vehicle was 8.0% in 2019 and grew to 10.2% in 2024, the average rate for a 4-8MY vehicle went from 10.3% to 12.9%, and the average rate for a 9+MY vehicle increased from 11.4% to 13.8% in the same time frame. Looking ahead to the used vehicle market It’s important for automotive professionals to understand and leverage the data of the used market as it can provide valuable insights into trending consumer behavior and pricing patterns. While we don’t exactly know where the market will stand in a few years—adapting strategies based on historical data and anticipating shifts can help professionals better prepare for both challenges and opportunities in the future. As used vehicles remain a staple piece of the automotive industry, making informed decisions and optimizing inventory management will ensure agility as the market continues to shift. For more information, visit us at the Experian booth (#627) during the NADA Show in New Orleans from January 23-26.
In this article…
typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.