{"id":92928,"date":"2015-04-22T15:05:26","date_gmt":"2015-04-22T19:05:26","guid":{"rendered":"http:\/\/www.thedetroitbureau.com\/?p=92928"},"modified":"2015-04-22T15:05:27","modified_gmt":"2015-04-22T19:05:27","slug":"green-car-purchasers-more-likely-to-pay-with-green","status":"publish","type":"post","link":"https:\/\/thedetroitbureau.com\/2015\/04\/green-car-purchasers-more-likely-to-pay-with-green\/","title":{"rendered":"Green Car Purchasers More Likely to Pay with Green"},"content":{"rendered":"
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The Toyota Prius was the most registered green car last year, according to Experian.<\/figcaption><\/figure>\n

If you\u2019re looking to buy a green vehicle, it appears you\u2019re more likely to simply drop a bunch of green to do it, according to a recent study.<\/p>\n

Buyers of alternative fuel vehicles last year were more likely to pay cash for their EV or hybrid than those purchasing a vehicle with a traditional internal combustion engine, said Experian Automotive.<\/p>\n

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Your Tech Choice!<\/figcaption><\/figure>\n

Sales of those vehicles have been in the decline through the first quarter of this year, but those buying them are pretty much a sure thing for automakers. More than 18% of consumers that purchased a “Green” vehicle paid in cash, compared to 15.2% of those that purchased a gas-powered vehicle, the company said.<\/p>\n

“Despite the increases we have seen in automotive financing over the past few years, it’s interesting that a larger percentage of consumers buying ‘Green’ vehicles are choosing to buy with cash,” said Melinda Zabritski, senior director of automotive finance for Experian.<\/p>\n

“To put it in context, nationally, consumers purchased new vehicles with cash roughly only 16% of the time. A possible reason for this could be that consumers buying ‘Green’ vehicles are in the highest credit tiers, which could indicate they have more disposable income than those buying a gas vehicle.”<\/p>\n

(Ten American cities with the greenest car shoppers. For more, <\/em><\/strong>Click Here<\/a><\/span><\/strong>.) <\/em><\/strong><\/p>\n

Because they\u2019re in the top credit tier, when they do finance or lease their vehicle, they\u2019re paying less due to better interest rates. Nearly 83% of consumers who purchased an alternative-powered vehicle fell within the prime credit category, compared to 71.5% of consumers who purchased a gas-powered vehicle. Additionally, the average credit score of a consumer purchasing “Green” was 737, while it was 711 for traditional vehicles.<\/p>\n

(<\/em><\/strong>Click Here<\/a><\/span><\/strong> for details about Toyota Mirai buyers getting free fuel.)<\/em><\/strong><\/p>\n

Other findings:<\/p>\n