Survey Shows Non-Prime Loan Trends
PITTSBURGH -- The National Automotive Finance (NAF) Association published its 2004 Non-Prime Automotive Financing Survey, which analyzes 2003-year-end data. According to the report, higher credit-quality loans are now being booked and repossession and remarketing expenses are hurting finance sources' profitability.
PITTSBURGH -- The National Automotive Finance (NAF) Association published its 2004 Non-Prime Automotive Financing Survey, which analyzes 2003-year-end data. According to the report, higher credit-quality loans are now being booked and repossession and remarketing expenses are hurting finance sources' profitability.
"The survey is in its eighth year of data gathering," said Jack Tracey, executive director of the Association. Of the 23 companies that responded to the survey, most finance both new and used vehicles. About 50 percent are independent finance companies.
Survey respondents and NAF Association members receive complimentary copies of the report. The survey is also available for purchase. Contact metracey@nafassociation.com or call (800) 463-8955 for more information.
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