More Prime customers moving to used cars

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More and more prime-credit auto consumers who could swing a new-car deal instead are opting for used vehicles.

It’s something of a marketplace phenomenon and reflects, among other things, how far used-car quality has come since the days when buying a pre-owned vehicle came with high risks of breakdowns.

“Fifty-four percent of prime borrowers are buying used cars,” Melinda Zabritski, credit tracker Experian’s senior director-automotive, says at the American Financial Services Assn.’s annual vehicle conference held here in conjunction with the National Automobile Dealers Assn. convention and expo.

Source: Wards Auto

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