Sentences with phrase «deep subprime loans»
That business handled deep subprime loans.
https://lendedu.com/ Not exact matches
There's a section of the auto - loan market — known in industry parlance as deep subprime — where delinquency rates have ticked up to levels last seen in 2007, according to data compiled by credit reporting bureau Equifax.
Moreover, Experian reported that in the fourth quarter of 2012, lenders increased auto loans to borrowers identified as deep subprime, with credit scores below 550, by 31 % year over year.
The reason that information is promising is because people with subprime and deep subprime credit ratings don't generally land the lowest auto loan rate s.
According to the Experian study, the average loan term for deep subprime borrowers buying new cars was 72 months long — or six full years.