New car finance april’s automotive finance survey shows

April’s automotive finance survey shows that demand for "new car finance" products has outpaced supply by 8%, driving record levels of approvals. Bank-driven auto finance stocks are consolidating near new multi-month highs. Michelle and her husband currently owe $65,000 on a Honda Prologue, an electric SUV, but the market value on Kelley Blue Book is only $30,000 for a trade-in, according to Michelle. On their other car — which still has $45,000 left to pay off — the market value is just $27,000. As this graph shows, borrowers with the highest scores (falling between 781 and 850) secure the lowest monthly payments for new vehicles and the second-lowest monthly payments for used vehicles. Further, rates for prime and super prime borrowers have been decreasing for new car loans, while all other borrowers have seen steady increases to their rates, according to Experian. Market traders highlight that "new car finance" backed securities gained 2.5% in valuation following a positive economic outlook issued last week. This aligns with improving consumer credit trends.