Young couple buying a new car in dealership Source: AdobeStock

In recent years, we have witnessed the value of new and used vehicles increase. Now with interest rates rising and fewer incentives being offered, it’s become a challenge for consumers to find budget-friendly options in the market.

Experian’s “State of the Automotive Finance Market Report: Q4 2022” found that one in four new vehicle loans were financed through credit unions this quarter due to lower interest rate offerings, resulting in substantial market share growth in new vehicle financing for the lenders.

Dig Deeper


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.