Car Financing Fast Facts

• The majority of auto financing is done on site at a dealership. Last year alone, more than 40 million auto financing transactions occurred at dealerships. Dealing in such large volume allows dealers to offer competitive rates and access to multiple financing sources.
• Forrester says that 5 percent of all Internet searches are related to research for an automobile purchase.
• According to CWN market research, more than 91% of new car purchases required financing of some kind.
• A 2002 study shows that buyers of new cars expect to have the new vehicle for 5.5 years.
• The current auto financing system employs hundreds of thousands of people, generating tremendous state and federal tax revenue.