US used car loan markets, competition, forecast and opportunity, 2027

DUBLIN, August 5, 2022 /PRNewswire/ — The “U.S. Used Car Loan Market, By Vehicle Type (Hatchback, Sedans, SUVs) By Financier (OEMs, Banks, NBFCs) By Percentage Of Sanctioned Amount (up To $25 %, 25-50%, 51-75%, above 75%) by mandate, by region, competition forecast and opportunities, 2027” has been added to the report ResearchAndMarkets.com’s offer.

Research and Markets Logo

United States The Used Car Loan Market is Expected to Grow at a Robust CAGR During the Forecast Period, 2023-2027

Used car prices are lower than new car prices. Used vehicle loans are the financial help and support that lenders offer to potential customers who are willing to invest in used cars at specific interest rates.

Due to the fact that used cars have durability, viability and other associated issues that are considered, these sanctioned loans are only for used cars. The market is driven by the growing demand from used car owners and the changing standard of living of an individual.

The government is extending aid and funding agencies are offering viable and affordable loan programs and plans that are easier to repay and have low interest rates. Also, they use online platforms to expand their reach and capture the highest market share.

United States The used car loan market is segmented into vehicle type, financial, sanctioned amount percentage, tenure, competitive landscape, and regional breakdown. Based on vehicle type, the market is divided into hatchbacks, hatchbacks, and SUVs. Sedans are expected to capture the highest market share during the forecast period, 2023-2027.

Hatchbacks are affordable and feature improved boot space. They have compact designs, which allows them to easily move around tight spaces. The benefits of having a hatchback generate sales in the country.

Goal of the study:

  • To analyze the historical growth of the market size of United States Used car loan market from 2017 to 2021

  • To estimate and forecast the market size of United States used car loan market from 2022E to 2027F and growth rate until 2027F

  • Classify and predict United States Used Car Loan Market Based on Vehicle Type, Financier, Percentage of Amount Sanctioned, Seniority, Competitive Landscape and Regional Breakdown

  • To identify the dominant region or segment in United States used car loan market

  • Identify drivers and challenges for United States used car loan market

  • Review competitive developments such as expansions, new services, mergers and acquisitions, etc. United States used car loan market

  • Identify and analyze the profile of the main players operating in United States used car loan market

  • Identify key sustainable strategies adopted by market players in United States used car loan market

Competitive landscape

Company Profiles: Detailed analysis of the main companies present in United States used car loan market.

  • ICICI Bank

  • Ally Financial Inc.

  • The Bank of America Corporation

  • Capital One Financial Corporation

  • The Ford Motor Company

  • General Motors Financial Corporation, Inc.

  • JPMorgan Chase & Co

  • Honda American Financial Corporation

  • Pentagon Federal Credit Union

  • Toyota Auto Loan Company

Report scope

Years considered for this report:

US used car loan market, by vehicle type:

US used car loan market, by financier:

Used car loan market in the United States, as a percentage of sanctioned amount:

  • Up to 25%

  • 25-50%

  • 51-75%

  • Above 75%

US used car loan market, by duration:

  • Under 3 years old

  • 3-5 years

US Used Car Loan Market, By Region:

  • South West

  • Mid-West

  • Northeast

For more information about this report visit https://www.researchandmarkets.com/r/22y1lq

Media Contact:

Research and Markets
Laura Woodsenior
[email protected]

For EST office hours, call +1-917-300-0470
For USA/CAN call toll free +1-800-526-8630
For GMT office hours call +353-1-416-8900

US Fax: 646-607-1907
Fax (outside the US): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

Quote

Quote

View original content: https://www.prnewswire.com/news-releases/united-states-used-car-loans-markets-competition-forecast–opportunities-2027-301600761.html

SOURCE Research and Markets

Comments are closed.