Alt. fuel vehicle buyers more likely to pay cash
In 2014, more than 18 percent of consumers who bought an alternative fuel vehicle paid cash, compared with 15 percent of those who bought regular vehicles, according to Experian Automotive.
A possible reason for this could be that consumers buying greenê vehicles are in the highest credit tiers, which could indicate they have more disposable income than those buying a gas vehicle, said Melinda Zabritski, Experianês senior director of automotive finance. The average credit score for AFV buyers was 737, versus 711 for traditional vehicles.
In 2014, the study found, 53 percent of consumers took out a loan to buy an AFV, but 70 percent of those buying traditional vehicles did so. The average loan was higher for gas-powered vehicles: $27,817 compared with $27,288 for AFVs.Download Bulletin PDF