Sentences with phrase «subprime auto debt»

Outstanding subprime auto debt (classified in the chart below as debt held by borrowers with origination credit scores under 620) now stands at about $ 300 billion... Since 2011, the overall delinquency rate of loans originated by auto finance companies has significantly deteriorated.

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«Predatory subprime auto lending takes advantage of vulnerable New Yorkers in every corner of our state and often drives people with bad credit further into debt.

Despite the drop off in subprime loans, borrowers with the lowest credit ratings still hold over $ 210 billion in auto loan debt or about 20 percent of the $ 1.1 trillion in total outstanding debt.

Taking out a subprime auto loan can do wonders for your credit scores as long as you keep your subprime auto loan payments on time and satisfactorily pay off the debt.

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.

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.

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Consumer borrowers owe $ 1.2 trillion in auto loans debt, and there are 23 million Americans who currently hold subprime auto loans.