HANOVER, MD -- The National Automotive Finance (NAF) Association has published its 2008 Non-Prime Automotive Financing Survey. The survey, conducted by outside consultant, 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 insightful 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.
The survey will be available the first week in September and is distributed at no cost to the companies that participated and to those NAF Association members not eligible to participate in the survey. For others, the cost is $300. Go to www.nafassociation.com to order online.
The National Automotive Finance Association is the only trade association exclusively serving the non-prime auto financing industry.