Dealers Find Subprime Represents 34% of Growing Auto Loan Market

Financial Times

Speed Read:

Finance com­pa­nies & cap­tives rush­ing get­ting into grow­ing & prof­itable U.S. sub­prime auto loan mar­ket.

Small­er lenders access fund­ing with low cost inter­est rates and investor back­ing of port­fo­lios.

What This Means for F& I Depart­ments:

  • New lenders have entered sub­prime auto loan mar­ket
  • Com­pa­nies like Sko­pus & Pel­i­can Auto + Ally & San­tander Con­sumer USA
  • Wall Street back­ing has height­ened loan com­pa­ny com­pe­ti­tion
  • Sub­prime auto loans have “moved up the food chain” for investors
  • Asset-based secu­ri­ties have increased 18% to $21.5B in 2013
  • As demand for loans increase, Moodys puts out warn­ings about port­fo­lios
  • Exper­ian says that non­prime & sub­prime mar­ket share is now 34.1%
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