HANOVER, Md. — The National Automotive Finance (NAF) Association has published its 2008 Non-Prime Automotive Financing Survey. The survey, conducted by BenchMark Consulting International, analyzes 2007 year-end data.
This year, 26 companies participated in the survey, representing
large (100,000 and more accounts), medium (fewer than 10,001 to
100,000 accounts) and small (up to 10,000 accounts) segments to make the data relevant for companies of all sizes. Over 3 million accounts were represented in the survey with principal balances of about $40 billion.
The survey offers analysis of portfolio performance by credit quality, terms and loan-to-value ratios. It explores various
aspects of non-prime finance, such as buy rate and contract rate APRs by loan-to-value and term segmentation. There is more analysis by FICO scores than in previous surveys, according to the NAF Association.
The survey will be available next week and will be distributed at no cost to the companies that participated as well as those NAF Association members not eligible to participate. For others, the cost is $300. Go to www.nafassociation.com to order online.