All posts by Mica DuBois

Risk & Compliance 2019 US Consumer Survey of Vehicle Finance Perceptions: 5 Takeaways

Auto Finance 2019 US Survey
Mar132019

Given new and disruptive innovations in the auto industry such as driverless cars, collaborative economy models with companies like Uber and Lyft entering the mainstream, new subscription ownership models, and the overall shift to digital experiences, it’s clear that the vehicle industry is experiencing tremendous change. Does this extend to consumer experiences and perceptions around vehicle financing? To answer that question (and more), FICO has released the findings from our second annual global consumer survey on vehicle finance perceptions. We collected consumer data from 2,000 consumers across nine countries: US, Canada, UK, Mexico, Spain, Chile, Germany, New Zealand, and Australia. Below are some key takeaways (and a few surprises) that we uncovered. US consumers showed an increasing appetite for online financing—an 8% YoY increase 13% of U.S. consumers acquired their most recent auto loan online, compared to only 5% in 2018, representing an 8% YoY increase for online financing. More than... [Read More]

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