State of the Automotive Finance Market Fourth …

1 1 2016 experian Information Solutions, Inc. All rights reserved. experian Public. 2015 experian Information Solutions, Inc. All rights reserved. experian and the marks used herein are service marks or registered trademarks of experian Information Solutions, Inc. Other product and company names mentioned herein are the trademarks of their respective owners. No part of this copyrighted work may be reproduced, modified, or distributed in any form or manner without the prior written permission of experian . experian Public State of the Automotive Finance Market Fourth Quarter 2015 Melinda Zabritski Sr. Director | Financial Solutions 2 2016 experian Information Solutions, Inc. All rights reserved. experian Public. Market overview Outstanding balances Total risk distributions Delinquency Originations New and Used financing Lender and transaction types Loan characteristics Session overview 3 2016 experian Information Solutions, Inc.

2 All rights reserved. experian Public. Category Score Range Super prime 781 850 Prime 661 780 Nonprime 601 660 Subprime 501 600 Deep subprime 300 500 Credit score ranges Vantage Score 4 2016 experian Information Solutions, Inc. All rights reserved. experian Public. INSERT PICTURE HERE Originations New and used lending 5 2016 experian Information Solutions, Inc. All rights reserved. experian Public. 0%10%20%30%40%50%60%70%80%90%100%Q4 2010Q4 2011Q4 2012Q4 2013Q4 2014Q4 2015 Percentage of vehicles with financing NewUsedGrowing reliance upon financing Source: experian Automotive 6 2016 experian Information Solutions, Inc. All rights reserved. experian Public. 0%10%20%30%40%50%60%70%80%90%100%2015201 4201320122011201020092008200720062005200 4200320022001200019991998199719961995199 4199319921991<=1990 Percentage of used model year vehicles without loans Source: experian Automotive of all vehicles financed in Q4 2015 were used 7 2016 experian Information Solutions, Inc.

3 All rights reserved. experian Public. 0%5%10%15%20%25%30%35%40%Q4 2010Q4 2011Q4 2012Q4 2013Q4 2014Q4 2015 Lease % of totalLease % of new financingLease % of all newConsumer leasing Source: experian Automotive 8 2016 experian Information Solutions, Inc. All rights reserved. experian Public. Leasing and consumer credit 717 715 624 635 300400500600700800Q4 2014Q4 2015 Average lease scores 0%10%20%30%40%50%60%70%80%90%100%Q4 2014Q4 2015 New leasing by risk segment Deep subprimeSubprimeNonprimePrimeSuper primeNew Used Lease by vehicle type Source: experian Automotive 9 2016 experian Information Solutions, Inc. All rights reserved. experian Public. 2014Q4 2015 Top 10 new models based on share of the new lease Market Source: experian Automotive * Silverado 1500 10 2016 experian Information Solutions, Inc.

4 All rights reserved. experian Public. 694 714 706 727 727 744 696 681 722 676 697 706 704 713 718 725 698 688 707 689 640660680700720740760 Loan scoreLease scoreAverage score comparison on top new leased models Source: experian Automotive 11 2016 experian Information Solutions, Inc. All rights reserved. experian Public. $426 $420 $408 $412 $375 $385 $395 $405 $415 $425 $435 $445Q42012Q42013Q42014Q42015 Average monthly payment 0%10%20%30%40%50%60%70%13 - 2425 - 3637 - 4849 - 60 Term distribution Average new lease characteristics Source: experian Automotive Average term = 36 months 12 2016 experian Information Solutions, Inc. All rights reserved. experian Public. $353 $426 $421 $431 $415 $423 $410 $359 $544 $431 $248 $322 $297 $322 $325 $328 $300 $259 $384 $318 $$100$200$300$400$500$600 Loan paymentLease paymentAverage payment comparison on top new leased models Source: experian Automotive 13 2016 experian Information Solutions, Inc.

5 All rights reserved. experian Public. Bank BHPH Captive Credit Union Finance Q4 2015 total loan Market share Automotive Finance by lender type Source: experian Automotive -15%-10%-5%0%5%YOY change in Market share Captive BHPH Bank Credit Union Finance 14 2016 experian Information Solutions, Inc. All rights reserved. experian Public. 0%10%20%30%40%50%60%70%80%90%100%New loanUsed loanQ4 2015 Market share by lender type BankBHPHC aptiveCredit UnionFinanceAutomotive Finance by lender type Source: experian Automotive -10%-8%-6%-4%-2%0%2%4%6%YOY Change in Market share NewUsedCaptive BHPH Bank Credit Union Finance 15 2016 experian Information Solutions, Inc. All rights reserved. experian Public. 0%1%2%3%4%5%6%7%Top 20 lenders in the retail loan Market Source: experian Automotive Top 20 represent of all retail loans 16 2016 experian Information Solutions, Inc.

6 All rights reserved. experian Public. 0%2%4%6%8%10%12%Top 20 lenders in the NEW retail loan Market Source: experian Automotive Top 20 represent of all new retail loans 17 2016 experian Information Solutions, Inc. All rights reserved. experian Public. 0%1%2%3%4%5%6%7%8%Top 20 lenders in the USED retail loan Market Source: experian Automotive Top 20 represent of all used retail loans 18 2016 experian Information Solutions, Inc. All rights reserved. experian Public. 711 726 736 732 727 723 715 712 711 640 647 657 659 653 650 646 648 649 580600620640660680700720740760Q4 2007Q4 2008Q4 2009Q4 2010Q4 2011Q4 2012Q4 2013Q4 2014Q4 2015 NewUsedAverage loan credit scores by vehicle type Source: experian Automotive 19 2016 experian Information Solutions, Inc.

7 All rights reserved. experian Public. 0%10%20%30%40%50%60%70%80%90%100%Q4 2014Q4 2015 New loans Automotive loans by risk segment Source: experian Automotive 0%10%20%30%40%50%60%70%80%90%100%Q4 2014Q4 2015 Used loans Super prime Prime Nonprime Subprime Deep subprime 20 2016 experian Information Solutions, Inc. All rights reserved. experian Public. 0%10%20%30%40%50%60%70%80%90%100%BankBHP HC aptiveCreditUnionFinanceRisk distribution of Market share Deep subprimeSubprimeNonprimePrimeSuper -6%-4%-2%0%2%4%6%8%BankBHPHC aptiveCreditUnionFinanceYOY change in highest risk (<600) segment Risk distribution by lender type Source: experian Automotive 21 2016 experian Information Solutions, Inc.

8 All rights reserved. experian Public. 0%20%40%60%80%BankBHPHC aptiveCredit UnionFinancePercentage of financing in highest risk segments (<600) UsedNew 48 162 (48) 32 7 (222) (74) (66) (117) -250-200-150-100-50050100150200 BankBHPHC aptiveCreditUnionFinanceYOY change (bps) in highest risk segments NewUsedRisk distribution by lender type Source: experian Automotive 22 2016 experian Information Solutions, Inc. All rights reserved. experian Public. Average financing by risk segment on new and used vehicle loans $28,381 $18,411 $29,551 $18,850 $$5,000$10,000$15,000$20,000$25,000$30,0 00$35,000 NewUsedAverage amount financed Q4 2014Q4 2015 Source: experian Automotive $1,170 $439 $25,411 $28,231 $31,147 $31,008 $26,858 $24,907 $27,399 $30,105 $29,680 $25,711 $$10,000$20,000$30,000$40,000 Deep subprimeSubprimeNonprimePrimeSuper PrimeAverage new amount financed Q4 2014Q4 2015$14,203 $16,071 $18,832 $20,486 $20,051 $14,022 $15,854 $18,389 $19,872 $19,433 $$10,000$20,000$30,000 Deep subprimeSubprimeNonprimePrimeSuper PrimeAverage used amount financed Q4 2014Q4 201523 2016 experian Information Solutions, Inc.

9 All rights reserved. experian Public. Average payments by risk segment on new and used vehicle loans $482 $355 $493 $359 $$100$200$300$400$500$600 NewUsedAverage monthly payment Q4 2014Q4 2015 Source: experian Automotive $11 $4 $505 $516 $513 $497 $466 $497 $508 $503 $485 $456 $420$440$460$480$500$520$540 Deep subprimeSubprimeNonprimePrimeSuper PrimeAverage new monthly payment Q4 2014Q4 2015$374 $372 $360 $353 $355 $373 $371 $355 $347 $349 $330$340$350$360$370$380 Deep subprimeSubprimeNonprimePrimeSuper PrimeAverage used monthly payment Q4 2014Q4 201524 2016 experian Information Solutions, Inc. All rights reserved. experian Public. $117 $119 $112 $119 $127 $134 $100$105$110$115$120$125$130$135$140Q4 2010Q4 2011Q4 2012Q4 2013Q4 2014Q4 2015 Average payment difference between new & used car loans Payment gap grows between new and used loans Source: experian Automotive 25 2016 experian Information Solutions, Inc.

10 All rights reserved. experian Public. Average term by risk segment on new and used vehicle loans 66 62 67 63 59606162636465666768 NewUsedAverage term Q4 2014Q4 2015 Source: experian Automotive 1 mo 1 mo subprimeSubprimeNonprimePrimeSuper PrimeAverage new loan term Q4 2014Q4 subprimeSubprimeNonprimePrimeSuper PrimeAverage used loan term Q4 2014Q4 201526 2016 experian Information Solutions, Inc. All rights reserved. experian Public. 0%10%20%30%40%50%60%70%80%90%100%25-3637 -4849-6061-7273-84 Vehicle financing by term NewUsedDistribution of loan term Source: experian Automotive 5% 12% 27 2016 experian Information Solutions, Inc. All rights reserved. experian Public. Average rate by risk segment on new and used vehicle loans rate Q4 2014Q4 2015 Source: experian Automotive 7 bps 13 bps subprimeSubprimeNonprimePrimeSuper PrimeAverage new loan rate Q4 2014Q4 subprimeSubprimeNonprimePrimeSuper PrimeAverage used loan rate Q4 2014Q4 201528 2016 experian Information Solutions, Inc.