The auto finance market is always a hot topic for discussion. After all, a vehicle loan is the second largest purchase that most consumers will ever make (the first being a home). Following the credit crunch, analysts and consumers alike watched the auto finance market with great interest to see how auto lending would be affected. The answer? Well, according to Experian Automotive’s Q3 State of the Automotive Finance Market analysis, subprime financing and leasing are continuing to make a strong comeback, which is good news for everyone. According to Melinda Zabritski, Experian Automotive’s director of credit, “Expanding loans to lower-risk tiers opens the market for more car shoppers, while an increase in leasing means it is easier for consumers to get more vehicle for a lower monthly payment. Both of these trends are positive signs of a strong and recovering auto finance market, which ultimately benefits the consumer and the entire auto industry.” Experian Automotive’s quarterly report looks at several areas of the automotive finance market to show how things have changed on a year-to-year basis. In Q3, market share for nonprime, subprime and deep-subprime automotive loans for new vehicles grew by 13.6 percent and new vehicle leasing grew by 7.53 percent year over year. The analysis also looked at the top makes that consumers financed. In Q3, Toyota grabbed top honors, claiming 14.09 percent of all new vehicles financed. Ford was second with 13.16 percent, and Chevrolet was third with 11.10 percent. Other areas covered in this quarter’s analysis include average consumer credit scores for new and used vehicle loans, average dollar amounts financed, 30- and 60-day delinquencies, repossessions, as well as which new vehicles had auto loans with the highest average consumer credit scores. For more information on this report and other automotive-related insights, please visit ExperianAutomotive.com or check out our press release.
There are two sides to every story. It’s one of those old clichés you hear time and time again. When I think about the collections process, this is the first thing that comes to mind. You have the consumer or debtor who enters into an agreement to pay for something and at some point, makes the decision not to pay. It could be a credit card bill or a car payment –or maybe they even forget to pay a library book fine (this actually happened to someone I know!). On the other side, you have the debt collector, who has the task day in and day out, of collecting on the debt the debtor has agreed to pay. This can be stressful, daunting and even unpleasant for both parties. The debt collector is concerned with finding the right party and working out a way to get the debt paid and they use a number of tools to help them do this, including skip tracing products. They definitely don’t want to spend time going down the wrong path wasting valuable time and resources. With Experian’s introduction of TrueTrace today, collectors now have a new industry-leading product that can improve the collections process. TrueTrace provides a very comprehensive and unique combination of data sources that can include everything from payday lending information to rental information through Experian’s RentBureau database. With increasing margin pressures in this industry, a product like TrueTrace offers the most up-to-date, comprehensive and accurate contact data to streamline their skip-tracing efforts. This process is part of the business, part of an agreement, but what strikes me as a pleasant surprise is the turn of events where many debt collectors are spending more time understanding consumer credit to better their understanding of the consumer. In turn, they can make themselves more effective and create a more positive experience for the consumer as well. This increase in knowledge can help the collector make better determinations about the consumer’s ability to pay and allow for a more meaningful conversation with the debtor. With the debt recovery industry focused so heavily on results, TrueTrace will surely play an important role, but combining this with education and professional development can really make for a winning combination for everyone. For more information about TrueTrace, you can read the news release here. Photo: Shutterstock
Small businesses are getting a lot of attention right now. With the presidential election, Affordable Care Act and talk of the looming fiscal cliff, small business health and survival concerns have been widely discussed across the United States. Earlier this year, Experian’s Business Information Services and Moody’s Analytics, a leading independent provider of economic forecasting, joined forces to create a business index and detailed report that provides insight into the health of U.S. businesses. The Experian/Moody’s Analytics Small Business Credit Index is reported quarterly to show fluctuations in the market and discuss factors that are impacting the business economy. The recently released Small Business Credit Index for third quarter 2012 showed that small business credit quality began deteriorating in Q3 after four consecutive quarters of improvement. Findings from the report also indicated that severely delinquent account balances and slower consumer spending growth posed a significant challenge to small businesses that will likely continue throughout the rest of 2012 and most of 2013. Details from the analysis also highlighted several other areas affecting small business including job growth, payment trends, consumer spending, raising home prices and unemployment. To download a full copy of the report, please visit www.experian.com/SmallBusinessCreditIndex
Experian’s groundbreaking generative AI-powered tool, Experian Assistant, has earned the prestigious 2025 BIG Innovation Award in the Products for Financial Services category. This recognition underscores Experian’s commitment to pushing the boundaries of innovation by helping businesses achieve success and enhancing consumer experiences. The BIG Innovation Awards, celebrated since 2011, honor organizations and solutions that redefine excellence through creativity and measurable impact. Experian Assistant was recognized for transforming how financial institutions approach data and analytics, enabling faster, smarter decision-making that enhances customer experiences and operational efficiency. Redefining Financial Services Integrated with the Experian Ascend Platform™, Experian Assistant functions as a 24/7 data expert, enabling financial institutions to optimize their credit and fraud models with ease. Using natural language processing (NLP), the virtual assistant guides users providing insights, recommendations and coding assistance. The impact is transformative: Experian Assistant cuts model-development timelines from months to just days— and even hours in some cases. By helping users analyze credit and fraud data, adjust model attributes and streamline workflows, it empowers organizations to innovate faster and make data-driven decisions with confidence. Powered by agentic AI technology, Experian Assistant reimagines how data scientists and analysts approach their work. It accelerates insights, fosters collaboration and empowers businesses to deliver exceptional customer experiences while reducing the time and resources needed to bring new initiatives to market. Driving Results Across Industries While tailored for financial services, Experian Assistant’s capabilities extend across industries. Businesses can leverage its tools for data exploration, model deployment, performance monitoring and faster time-to-market for new offerings. With Experian Assistant, users gain a powerful edge in scoring more consumers, optimizing processes and enhancing overall customer satisfaction. Recognized Excellence The 2025 BIG Innovation Awards spotlight trailblazers evaluated on creativity, impact and results by seasoned business leaders. This accolade solidifies Experian Assistant’s position as a game-changing solution in financial services and beyond.
We are thrilled that for the sixth consecutive year, Experian has earned a score of 100 on the Human Rights Campaign Foundation’s (HRCF) 2025 Corporate Equality Index (CEI). This recognition underscores our commitment to LGBTQ+ workplace equality. We are honored to join the ranks of 765 U.S. businesses that have been awarded the HRCF’s Equality 100 Award, celebrating our leadership in fostering an inclusive workplace. Experian’s dedication to supporting the LGBTQ+ community is reflected in several key initiatives: Name Change Process: We have a process for transgender and non-binary consumers to update their names on credit reports, ensuring their identities are accurately represented. LGBTQ+ Allyship 101 Training: This new training program is available to all Experian employees, promoting allyship and understanding within our workforce. Pride ERG Parenting Committee: Launched to support parents, grandparents and guardians of LGBTQ+ individuals, this committee provides valuable resources and community. Transgender Resource Guide: This guide supports employees who are transitioning at work, offering education and resources for colleagues and managers. Partnerships: We collaborate with organizations such as Out & Equal, GenderCool, The Trevor Project and Born This Way Foundation’s Channel Kindness to provide financial health, mental health and other resources to empower both our internal and external communities. At Experian, we are proud to be part of this movement towards greater equality and inclusion. We remain dedicated to fostering a workplace where every employee feels respected, valued and empowered to bring their authentic selves to work. Learn more about how we drive social impact in English, Portuguese and Spanish.
Achieving Top Workplace recognition for 12 consecutive years is no small feat, yet Experian North America has done just that. Named a Top Workplace by the Orange County Register once again, this milestone reflects not just policies or benefits but what truly makes Experian exceptional: our people. As Hiq Lee, Chief People Officer at Experian North America, notes, this honor is a testament to the remarkable contributions of our team. Experian’s employees shape an environment where innovation, inclusivity, and purpose thrive. More Than Work What sets Experian apart is our engagement with the world and community. Through initiatives like the Experian Volunteer Leadership Network and partnerships with organizations such as the Octane Foundation for Innovation and the Hispanic Chamber of Commerce of Orange County Education Foundation, our impact extends beyond the workplace. In 2024, we earned additional recognitions, including being named one of the World’s Best Workplaces™ by Fortune and Great Place to Work®. We were also recognized as one of the Best Workplaces for Parents, Millennials, and in Technology. The Secret to Success Our success lies in focusing on people. Experian is a place where careers are built, ideas are encouraged, and employees feel valued. Initiatives such as, Employee Resource Groups foster belonging, Mental Health First Aiders provide support, and technology hackathons inspire creativity. Innovation at the Core Innovation continues to drive our success. By leveraging technologies like artificial intelligence and machine learning, we are redefining decision-making and fraud prevention. This commitment to innovation empowers businesses and consumers worldwide, aligning with our mission to promote financial inclusivity. Looking Ahead For Experian, being a Top Workplace for more than a decade isn’t a finish line—it’s a springboard. With an ongoing commitment to our employees and communities, we continue to evolve, creating better experiences for our team, clients, and the world.
