New buyers, especially those with EV trade-ins, are feeling the brunt of depreciation as market normalizes.
Borrowers taking on more debt, moving many into delinquent territory.
The firm attributed the slowdown to improvements in oil states and tightening underwriting guidelines, which have also helped stabilize delinquency rates.
Originations continued to fall at a faster rate than previous years, as finance sources continued to tighten underwriting standards during 2017’s end-of-year quarter. TransUnion officials, however, say the sector is performing well as the economy remains relatively strong.
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