A few bumps in the road may have slowed the economic recovery, but that wasn’t the case for auto finance, especially in the second quarter. Dealers were able to find more sources for their credit-challenged customers, with Experian Automotive’s quarterly auto finance data showing a significant increase in loans made to below-prime car buyers.
That segment represented 22.29 percent of all new-vehicle loans originated during the second quarter, an 18.21 percent increase from the year-ago period. This was welcome news to both dealers and manufacturers, especially with half of all potential consumers falling into the high-risk credit tiers.
via F&I Magazine.