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Tag: subprime
Good job is good enough as subprime buyers help U.S. car sales
2013-11-10 13:06:13| Auto Dealers - Topix.net
Alan Helfman, a car dealer in Houston, served a woman in his showroom last month with a credit score lower than 500 and a desire for a new Dodge Dart for her daily commute.
Why Should You Care About Five Subprime Auto Loan Predictions?
2013-10-23 01:33:04| AutomotiveDigest.com - Automotive Industry News
Just as payday lending evolved to better meet the needs of the underbanked, so will auto lending change to meet the needs of non-prime customers. That industry is large, its growing, its incredibly fragmented, its inefficient, its lopsided (the house mostly wins), and its one of the largest yet worst consumer financial experiences. New technology, new business models and new regulation represent an enormous opportunity for incumbents and entrepreneurial thinkers to create a more efficient and more transparent marketplace. Heres what we could see in five yearsThe Article Why Should You Care About Five Subprime Auto Loan Predictions? appeared first on Automotive Digest.
Tags: care
auto
loan
predictions
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.
Independent Dealers Gaining Skills with Subprime and BHPH Customers
2013-07-22 18:40:53| AutomotiveDigest.com - Automotive Industry News
by Jon LeSage, Editor of Used Car Market Reports, the Industrys Only Weekly Summary of Vehicle Remarketing Independent dealers have seen enormous growth in two segments in recent years subprime loans and Buy Here Pay Here (BHPH). Serving these customers with the right used vehicles has required enhanced skillsets in buying and selling the right aged vehicles, and working with customers to avoid dealing with big problems. Check out perspectives offered by Chris Macheca, Executive VP of Operations at PassTime USA on compliance issues and how to best deal with the annoyance of people tampering with GPS tracking devices. High-risk customers offer huge opportunities and potential problems to manage the right way.The Article Independent Dealers Gaining Skills with Subprime and BHPH Customers appeared first on Automotive Digest.
Tags: independent
customers
skills
dealers
The Future of Cellular Technology: What It Means to the Subprime Automotive Market
2013-05-21 00:15:44| AutomotiveDigest.com - Automotive Industry News
PassTime 2G Sunset WhitepaperThe Article The Future of Cellular Technology: What It Means to the Subprime Automotive Market appeared first on Automotive Digest.
Tags: technology
means
future
market
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