Sentences with phrase «more subprime auto loans»

With more subprime auto loans going through, the industry may not be as far along the road to recovery as it seems.

Not exact matches

It's quite likely that the exuberant 2016 auto sales figures were inflated by easy - to - get subprime loans with low, long - term payments, enticing buyers to purchase more car than they could afford.

Auto loans to subprime borrowers, with credit scores between 550 and 619, increased by more than 11 % over fourth quarter 2011.

Bank risk professionals now believe that lenders will keep allowing subprime borrowers to take on credit card debt and have more access to auto loans over the next six months, -LSB-...]

Bank risk professionals now believe that lenders will keep allowing subprime borrowers to take on credit card debt and have more access to auto loans over the next six months, according to a survey by the Professional Risk Managers» International Association for the credit scoring company FICO.

The Federal Reserve Bank of New York recently reported that during the six - month period from April through September 2015, more than $ 110 billion in subprime auto loans have been issued.

The riskiest of the subprime auto loan borrowers might find more luck in going with smaller lenders that are willing to accept the risk to stay in the lending game.

One bond issue dealing with subprime auto loans, the Skopos Auto Receivable Trust 2015 - 2, had 12 % of its underlying loans 30 days or more delinquent in just the first four monauto loans, the Skopos Auto Receivable Trust 2015 - 2, had 12 % of its underlying loans 30 days or more delinquent in just the first four monAuto Receivable Trust 2015 - 2, had 12 % of its underlying loans 30 days or more delinquent in just the first four months.

What's even more alarming is that subprime auto loans share some strikingly similar numbers to the subprime mortgage lending.

The surge of auto loans ----- more than 30 % of which are subprime ----- is consequent to Fed policy, but not in a good way.

That's because subprime auto loans tend to have very high interest rates and may also come with additional fees, making them significantly more expensive over the long term than the loan you could potentially obtain with better credit.

Julie Menin, the Commissioner of New York City's Department of Consumer Affairs, said that subprime auto loans «are growing at a staggering rate of more than 130 % since the financial crisis.»

Subprime borrowers have easier time getting car loans — Unlike with credit cards, auto loans are becoming more available for borrowers with blemished credit... (See Auto loauto loans are becoming more available for borrowers with blemished credit... (See Auto loAuto loans)

Auto loans to people with tarnished credit have risen more than 130 percent in the five years since the immediate aftermath of the financial crisis, with roughly one in four new auto loans last year going to borrowers considered subprime — people with credit scores at or below Auto loans to people with tarnished credit have risen more than 130 percent in the five years since the immediate aftermath of the financial crisis, with roughly one in four new auto loans last year going to borrowers considered subprime — people with credit scores at or below auto loans last year going to borrowers considered subprime — people with credit scores at or below 640.

Curry also warns against auto loans that have a term of six years or longer, because the average subprime loan has a term of six years (72 months) and carries an interest rate of more than 10 %.