The Experian Automotive Report is a valuable resource that provides insights into the credit profiles of individuals who obtain auto loans. This report helps us understand the distribution of auto loans among different credit score ranges. Here’s a breakdown of the information from the report:

Credit Score Categories and Loan Distribution:

• The Experian Automotive Report categorizes borrowers into different credit score ranges and reveals how auto loans are distributed among these groups:
  • Over 781 Credit Score: Approximately 20%
    • This category includes individuals with excellent credit scores, often considered the lowest-risk borrowers. They typically receive favorable loan terms, such as lower interest rates.
  • 661 to 780: Approximately 40%
    • Borrowers in this range have good to very good credit scores, making up a significant portion of auto loan recipients. They generally qualify for competitive loan offers.
  • 601 to 660: Approximately 20%
    • This group represents individuals with fair credit scores. They may receive auto loans but may encounter slightly higher interest rates.
  • 501 to 600: Approximately 17%
    • Borrowers in this category have lower credit scores, which can result in less favorable loan terms, such as higher interest rates or stricter lending conditions.
  • Below 500: Approximately 3%
    • This group comprises borrowers with poor credit scores. They may find it more challenging to secure auto loans, and if approved, they often face higher interest rates and more stringent lending requirements.

The Experian Automotive Report offers valuable insights for consumers, lenders, and industry professionals, helping them understand the lending landscape for auto loans and the distribution of loans across various credit score ranges. It’s a useful tool for anyone interested in the intersection of credit and auto financing.

For more detailed information and access to the full Experian Automotive Report, you can visit the provided link: Experian Automotive Report.