As part of Auto Remarketing’s Top 100 Used Car Dealers: Independent Edition, we highlight some of the leading lenders in the space.
The Top Used-Car Lenders Among Independent Dealers ranking is based on data from Experian Automotive, which includes the top 20 lenders with the greatest share of used-car loan origination units among independent dealers in 2018.
The Experian data includes dealers in 33 states.
The top 20 rankings can be found below, with each lender and their respective share of independent dealer used-car financing in 2018.
1. CARMAX AUTO FINANCE 4.95%
2. CAPITAL ONE AUTO FINANCE 3.54%
3. CREDIT ACCEPTANCE CORP. 3.36%
4. WESTLAKE FINANCIAL SERVICES 3.19%
5. ALLY 2.69%
6. WELLS FARGO AUTO FINANCE 2.66%
7. BRIDGECREST ACCEPTANCE CORP. 2.06%
8. SANTANDER CONSUMER FINANCE 1.57%
9. NAVY FCU 1.27%
10. USAA FEDERAL SAVINGS BANK 1.09%
11. CNAC 0.80%
12. AMERICAN CREDIT ACCEPTANCE 0.78%
13. CHASE AUTO FINANCE 0.71%
14. EXETER FINANCE CORP. 0.65%
15. LOBEL FINANCIAL 0.62%
16. CARVANA LLC 0.62%
17. TD AUTO FINANCE 0.56%
18. STATE ECU (NC) 0.50%
19. BANK OF AMERICA 0.48%
20. MECHANICS BANK 0.48%
SOURCE: Experian Autmomotive. Data is based on Top 20 lenders with the greatest share of used-car loan origination units among independent dealers in 2018. Data includes dealers in 33 states.
The June 15 print and digital edition of Auto Remarketing is the second in a two-part series and focuses on independent dealers.
Beyond the lender rankings above, we also highlight some of the strongest used-car selling franchised dealerships n the country. The dealer rankings data in this report is courtesy of Dominion Cross-Sell, which collects the information via state departments of motor vehicles.