One in 4 Vehicles Financed by Credit Unions in Q4 2022, as Consumers Search for Lower Interest Rates
In the fourth quarter of 2022, credit unions held the largest percentage of the vehicle finance market, for the first time. According to Experian’s State of the Automotive Finance Market Report: Q4 2022
Credit Unions Amass Largest Share of the Automotive Finance Market in Five Years
Through the first three months of 2022, there were some shifts in the automotive finance market, most notably, significant growth for credit unions. According to Experian’s State of the Automotive Finance Market: Q1 2022 report, credit unions amassed 22.06% of the total automotive finance market, up from 18.55% a year prior.