Consumers with near-primary or non-primary incomes continue to face barriers in new and used vehicle markets, research from Open Lending shows

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry pioneer in auto lending enablement and risk analytics solutions for financial institutions, today released a new Near- and Non-Prime Consumer Update, continuing its quarterly reporting series on near- and non-prime consumer auto lending trends. The report covers vehicle sales volume, interest rates, payment trends and consumer preferences through the first quarter of 2024. In addition to national data, this research provides findings on regional near- and non-prime auto lending trends.

Using AutoCreditInsight^TM data, the report provides insight into the opportunity for auto lenders to serve near- and non-prime consumers, a vital audience segment for financial institutions seeking membership growth and higher returns in their auto loan portfolios. Key findings include: