 TITLE: Are More Drivers Financing New or Used Cars? CONTENT: What Are Consumers Financing More in 2020?\n------------------------------------------\nUsed cars clearly won the financing race when it came to cars purchased in the second quarter (Q2) of 2020, according to Experian's State of the Automotive Finance Market Report. In Q2 2020, used cars made up 59.3% of all vehicle financing, compared with 40.8% for new cars, Experian data shows. Those figures were nearly the same in the second quarter of 2019.\nThe tally shows 85.4% of new cars sold were financed, either with a loan or lease, compared with 36.8% of used cars. In the Q2 2019, those figures were 87.6% for new cars and 40.3% for used cars. Many more vehicles sold in the U.S. are used rather than new—more than twice as many last year, according to Edmunds—so even while most new cars are financed, sheer numbers mean used cars still comprise the majority of the finance market.\nMeanwhile, the percentage of new cars that are leased fell in Q2 2020, according to Experian. In this year's second quarter, the share of all new cars that were leased stood at 25.8%, down from 32% during the same period in 2019. The share of used cars in the leasing market barely budged, going from 9.7% in the second quarter of 2019 to 9.5% in the second quarter of 2020. END