Robert O'HaraThere are strong economic indicators suggesting 2015 will show solid growth potential for credit union automotive portfolios. As reported by Experian Automotive, auto loan portfolios increased by 11% in 2014.  The year ended with $866 billion in outstanding loan balances compared to $782 billion in 2013.

A major part of this growth can be attributed to leasing.  Taking that into consideration, GrooveCar, which provides leasing products to credit unions and their members, conducted a survey of its automotive dealers. Dealers were asked specific questions on the leasing market including, what percentage of purchases represented leasing? How does that percentage compare to sales a year ago? What reasons were lease options chosen? Customer demographics and dealer’s objective in choosing a specific lender were also researched.

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