Top 10 states with most used-vehicle financing in Q2


Tennessee and Vermont are polar opposites based on at least one statistic from Experian’s Q2 2020 State of the Automotive Finance Market report.

Turns out the states well known for country music and maple syrup, respectively, are at the top and the bottom of Experian’s data set for the amount of used-vehicle financing originated during the second quarter.

Tennessee led the way with 78.2% of financing connected to a used vehicle. Vermont landed on the other end of the analysis at 57.7%.

Here are the top 10, according to Experian:

Tennessee: 78.2%
Mississippi: 75.4%
Indiana: 75.2%
Alabama: 74.5%
Kansas: 73.0%
Kentucky: 73.0%
Michigan: 72.7%
Iowa: 72.2%
Wisconsin: 72.2%
Georgia: 71.3%
Idaho: 71.3%

Meanwhile, here are the bottom 10 from Experian’s report:

Vermont: 57.7%
District of Columbia: 59.6%
New Hampshire: 60.3%
Nevada: 60.5%
Delaware: 61.2%
California: 61.4%
Florida: 61.4%
New Jersey: 61.4%
Louisiana: 61.5%
West Virginia: 62.1%

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