New car sales are slowing, driving competition in lending. While interest rates remain the most important consideration for borrowers, lenders – regardless of whether they are financial institutions, dealers, or third parties – have to find ways to differentiate themselves outside of rates.
Albany, NY -- (SBWIRE) -- 06/12/2017 -- The increased requirement of personal commutation and the capability of the societal need to buy more luxurious and comfort vehicle has resulted in the improvement of the vehicle financing market at the global scale. To further elaborate the market in the U.S., Market Research Hub (MRH) has recently added a detailed report titled as "Vehicle Financing - US - May 2017" to its vast report repository. The research study analyzes the vehicle financing market for the various states in the U.S. focusing on various factors.
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The market comprises of various vehicles ranging from commercial vehicles, private vehicles, agricultural vehicles, and two wheelers. The main financing sectors are financial institutions, dealers, or third parties that provide finance with varying interest rates to streamline the consumer vehicle financing process. The luxurious and speedy vehicle penetration is expected to increase in the U.S. and that ultimately leads to the growth of the vehicle financing market share.
The report starts with the detailed overview of the researched study, further, the issues and the opportunities for the vehicle financing market is explained with pictorial representation. The study also provides you the market insight that includes the loan categories with the auto sector as the main segment; moreover, the problems for the vehicle financing sector are also analyzed. The market size, market factors, market breakdown and key players for the vehicle financing market is detailed. Main factors for the market provided in the report are, new & used cars and light trucks sales graph, 2011-2016, US gasoline and diesel retail prices, January 2007-January 2017 and Preference for a long-term loan, by gender and age, March 2017. The market breakdown is done that comprises the market share of new financing, Q4 2015-Q4 2016 and market share of used financing, Q4 2015- Q4 2016.
The research has analyzed the key players and segmented them under the categories for the working players, struggling players and the future prospect. The working players are One-stop shopping & lending online, Carvana & Vroom.com, Walmart and Capital One. The future prospects of the market are AutoFi and Clearlane. The next section features the most likely payment methods for the vehicle finance, the source of financing, and the most important loan/lender benefits. The report concludes by providing the analysis of people attitudes towards loan and lending along with the detail of Chaid analysis and Turf analysis. The Chaid analysis shows that young women find financing process confusing and Turf analysis shows that interest rates are the most important feature.
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