http://ecomento.com/2015/04/29/green-car-buyers-better-credit-and-pay-cash/ Green car buyers have better credit and pay more with cash April 29, 2015 |
[image http://cdn.ecomento.com/wp-content/uploads/2015/04/electric-car-buyer-type.jpg (i3 EV) ] Though sales in the green car marketplace haven’t yet recovered from last year’s dip, EV enthusiasts have one interesting thing to boast: by and large, they’re more financially secure than the average auto buyer. According to a study from Experian, hybrid and plug-in car buyers use cash more often than normal auto customers (18 percent paid the whole amount in cash, compared to 15.2 percent of normal buyers), and 83 percent of plug-in and hybrid buyers have exceptional credit ratings (the average is 737, compared to 711 for normal buyers). The general green car market might be experiencing a downturn, but the people who buy these vehicles are still excellent candidates for any dealership looking to sell. [© ecomento.com] http://www.prnewswire.com/news-releases/more-drivers-using-green-to-go-green-300069971.html More drivers using green to go "Green" Latest Experian study shows consumers buying an alternative-powered vehicle are more likely to use cash than those buying a gas vehicle Schaumburg, Ill., April 22, 2015 /PRNewswire/ -- In honor of Earth Day, Experian Automotive found that consumers that purchased an alternative-powered vehicle did not just go Green by cutting back on fossil fuel, but they used more green to buy them — cold hard cash. According to a recent analysis of the alternative-powered vehicle market, findings showed that in 2014, more than 18 percent of consumers that purchased a "Green" vehicle paid in cash, compared to 15.24 percent of those that purchased a gas-powered vehicle. "Despite the increases we have seen in automotive financing over the past few years, it's interesting that a larger percentage of consumers buying 'Green' vehicles are choosing to buy with cash," said Melinda Zabritski, senior director of automotive finance for Experian. "To put it in context, nationally, consumers purchased new vehicles with cash roughly only 16 percent of the time. A possible reason for this could be that consumers buying 'Green' vehicles are in the highest credit tiers, which could indicate they have more disposable income than those buying a gas vehicle." ... By being in the highest credit tiers, consumers purchasing "Green" vehicles* also tend to be a slightly lower credit risk than those purchasing traditional models. Nearly 83 percent of consumers who purchased an alternative-powered vehicle fell within the prime credit category, compared to 71.5 percent of consumers who purchased a gas-powered vehicle. Additionally, the average credit score of a consumer purchasing "Green" was 737, while it was 711 for traditional vehicles ... Going Green going out of style? From an overall market perspective, the percentage of new registered alternative-powered vehicles experienced a slight decrease year-over, going from 4.1 percent in 2013 to 3.9 percent in 2014. "While consumers purchasing an alternative-powered vehicle can satisfy their environmentally conscious side, the influx of traditionally powered vehicles with extremely high fuel efficiency have presented more options for consumers looking to save a buck at the fuel pump," continued Zabritski ... Other findings: In 2014, 53.3 percent of consumers took out a loan to purchase a "Green" vehicle, while 70.2 percent of consumers took out a loan to purchase a traditional model For leases, 28.2 percent of consumers leased an alternative-powered vehicle in 2014, compared to 29.6 percent of consumers leasing a gas-powered vehicle The average loan for an alternative-powered vehicle in 2014 was $27,288, compared to $27,817 for a gas-powered vehicle In 2014, the average monthly payment for an alternative-powered vehicle was $468; gas-powered vehicles were $473 The average lease payment for an alternative-powered vehicle was $358, compared to $407 for a gas-powered vehicle The top five states with the highest percentage of alternative-powered vehicle registrations in 2014 were California, Hawaii, Oregon, Washington and Georgia About Experian Automotive ...http://www.experian.com/automotive. About Experian ... http://www.experianplc.com ... Contact: Roslyn Whitehurst Experian Public Relations 1 714 830 5578 roslyn.whitehurst @experian.com Twitter: @RozWhitehurst [© 2015 PR Newswire] For EVLN posts use: http://evdl.org/evln/ {brucedp.150m.com} -- View this message in context: http://electric-vehicle-discussion-list.413529.n4.nabble.com/EV-buyers-are-more-financially-secure-than-the-average-auto-buyer-tp4675309.html Sent from the Electric Vehicle Discussion List mailing list archive at Nabble.com. _______________________________________________ UNSUBSCRIBE: http://www.evdl.org/help/index.html#usub http://lists.evdl.org/listinfo.cgi/ev-evdl.org For EV drag racing discussion, please use NEDRA (http://groups.yahoo.com/group/NEDRA)
