NAF Association Publishes Non-Prime Auto Financing Study
The National Automotive Finance Association (NAF Association) has published its "Non-Prime Automotive Financing Study 2001." The survey, conducted by KPMG Financial Services Consulting, analyzes 2000 and 1999 year end data to measure growth and changes in credit terms and practices in the nonprime auto lending industry.
An in-depth questionnaire was sent to companies engaged in nonprime auto lending, and 26 companies responded. The mean portfolio
size of the participants was just under $711 million. Based on dollar volume, the top states in which the respondents do business are Texas,
Florida, Georgia, California, North Carolina and Virginia.
The survey reports on booking rates, and gives insight into the loan process, contract terms, dealer relations and credit quality. Data from
this and previous surveys were compared. Average booking rates remain virtually unchanged from the first study, performed in 1998, to the 2001 survey. One finding from the new questions on Internet usage was that
booking rates are lower for Internet-sourced applications.
The survey is available to NAF Association members for $200 and for $500 to non-members. Those who responded to the questionnaire receive a complimentary copy of the report for their participation in the survey.
For information on ordering the survey, call 1-800-463-8955; fax 412-885-1986; or e-mail jtracey@nafassociation.com.
About the NAF Association
The National Automotive Finance Association is a trade association exclusively serving the nonprime auto lending industry.
For more information, visit www.nafassociation.com.
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