Dealers Face Difficulty Placing Subprime Loans
Extending credit to high-risk customers is harder, but there are ways to get those customers into loans.
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Experian: Financing Extended to Subprime Car Buyers Declines to Record Lows in Q3
Auto financing extended to subprime and deep-subprime car buyers fell 4.5% from a year ago, as the auto finance industry continued to squash fears of a forming subprime bubble. Newly originated loans made to prime car buyers jumped 2% to encompass nearly 60% of auto loans originated during the period.
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