Auto industry financing continues to rebound

The automotive industry has exhibited exceptional resilience in the years following the recession, as the economic crisis hit Detroit harder than most sectors. While the bailout remains a point of contention, most manufacturers inside and out of the United States have battled adversity to reach better financial performances than seen in more than a decade. This year has been marked by several improvements in the automotive industry, while financing has likewise evolved. Experian recently released the results of its Automotive Finance Market analysis, which found that nearly every major car seller increased deals last quarter, while lenders and financiers seem to be allowing more risky financing than ever before. "With leasing showing a continued upward trend, and lenders increasing their appetite for risk, consumers were in a good position to obtain a vehicle during Q3," said Melinda Zabritski, director of automotive credit at Experian Automotive, in a statement. "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."