RANCHO CUCAMONGA, Calif. - Other findings released as part of CUDL’s 2008 Business Intelligence Report:
* The average new vehicle loan maturity in 2007 was 72 months.
* 69.3% of the loans had maturities greater than five years.
* Used vehicle loan maturities funded on the CUDL platform decreased from 70 months in 2006 to 65 months in 2007. “This is a reflection of market trends as J.D. Power and Associates reported that 82.0% of all auto loans originated in 2007 had maturities between 60 and 77.9 months,” the report found.
* CUs funded more than 10,000 RV, watercraft, and motorcycle loans in 2007. The average loan amounts for these vehicles ranged from $6,830 for an ATV to $25,039 for a boat.
For info: www.cudl.com.
