Sentences with phrase «of subprime car loans»

The result is that originations of subprime car loans slumped to $ 39.8 billion in the quarter, down 7 % from the prior quarter and nearly 22 % from just nine months earlier, according to the New York Fed's latest data.

Not exact matches

The IDC worked to put the brakes on bad practices in the subprime auto industry to protect consumers, some of whom are stuck paying the price of a new car for a junker because of the terms of the loan.

not to mention 90 % of GM's [thru is subsidiary Ally Bank] subprime car loans are in default..

Car dealerships may also have connections to lenders that make subprime loans, making special offers to, «approve anyone regardless of credit.»

For the last seven years car loans have outpaced nearly all lending categories; but with fewer loan options and the prospect of higher interest rates, subprime borrowers will continue to avoid new car purchases.

Scores below 580 are indicative of a consumer's poor financial history, which can include late monthly payments, debt defaults, or bankruptcy; individuals in this «subprime» category can end up paying auto loan rates that are 5 or 10 times higher than what prime consumers receive, especially for used cars or longer term loans.

One downside to these subprime car lenders is they will come with a higher interest rate which will increase your monthly payment and the amount you will pay in total over the life of your loan.

Prime and subprime car loans are a good source of income for the banks when the economy is hot, but it can be a source of losses if people are -LSB-...]

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Prime and subprime car loans are a good source of income for the banks when the economy is hot, but it can be a source of losses if people are struggling to repay, especially if they're taking out riskier, long - term loans in the first place.

A growing area of credit mismanagement for younger debtors is the use of high cost debt options like credit cards, subprime car loans and payday loans.