Car loans granted by banks constituted nearly 24 percent of all automobile financing in the United States in the second quarter of 2023. A lower value than in the previous year. Captive finance, which refers to subsidiaries of car manufacturers or dealers that finance the purchase of cars, had a slightly smaller market share. Finally, buy here, pay here (BHPH) and other types of lending had the smallest market share. In BHPH, the car dealer where the vehicle is bought, also lends money to the client.
Distribution of vehicle loan sources in the United States from 2017 to 2023
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Experian. (August 30, 2023). Distribution of vehicle loan sources in the United States from 2017 to 2023 [Graph]. In Statista. Retrieved March 19, 2024, from https://www.statista.com/statistics/453222/market-share-of-car-lenders-usa/
Experian. "Distribution of vehicle loan sources in the United States from 2017 to 2023." Chart. August 30, 2023. Statista. Accessed March 19, 2024. https://www.statista.com/statistics/453222/market-share-of-car-lenders-usa/
Experian. (2023). Distribution of vehicle loan sources in the United States from 2017 to 2023. Statista. Statista Inc.. Accessed: March 19, 2024. https://www.statista.com/statistics/453222/market-share-of-car-lenders-usa/
Experian. "Distribution of Vehicle Loan Sources in The United States from 2017 to 2023." Statista, Statista Inc., 30 Aug 2023, https://www.statista.com/statistics/453222/market-share-of-car-lenders-usa/
Experian, Distribution of vehicle loan sources in the United States from 2017 to 2023 Statista, https://www.statista.com/statistics/453222/market-share-of-car-lenders-usa/ (last visited March 19, 2024)
Distribution of vehicle loan sources in the United States from 2017 to 2023 [Graph], Experian, August 30, 2023. [Online]. Available: https://www.statista.com/statistics/453222/market-share-of-car-lenders-usa/