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Subprime Loans Can Be Great if Done the Right Way
2013-07-23 21:58:10| AutomotiveDigest.com - Automotive Industry News
Subprime loan car shoppers are choosing used cars over new cars by an almost 2-to-1 margin, according to Experian Automotive. In Q1 of this year, 63.2% of loans were for used cars, and the average loan amount was $17,532, Experian said for new cars, the average loan during that time was $26,648. Lenders and dealers are doing better with subprime loans today than in five years ago but there are some serious challenges. One of these has been vehicle repossessions, which were up significantly in the first quarter, Experian Automotive said. Credit scores are not the only thing to look at better manage risk. Read more about whats working for creditors and dealers in making subprime loans a great channel to see revenue growth in a way that works for all parties involved in the transaction. The Article Subprime Loans Can Be Great if Done the Right Way appeared first on Automotive Digest.
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Category:Automotive