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Subprime Auto Loan Losses Reach Highest Level since the Financial Crisis

Published on March 13, 2017 By Cucolle1

Subprime net loss rate in auto bonds rose to 9.1% in January U.S. subprime auto lenders are losing money on car loans at the highest rate since the aftermath of the 2008 financial crisis as more borrowers fall behind on payments, according to S&P Global Ratings. Losses for the loans, annualized, were 9.1 percent in […]

The Next Financial Crisis Might Be in Your Driveway

Published on February 22, 2017 By Cucolle1

With late payments on the rise, a dealership upsell begins to look dangerous. Lured by low interest rates, low gas prices, and a crop of seductive vehicles that are faster, smarter, and more efficient than ever before, American drivers are increasingly riding in style. Don’t be fooled by the curb appeal, though-those swanky machines are […]

Auto Loan Losses at Six Year High – Fitch Ratings

Published on September 6, 2016 By Cucolle1

Banks’ loan losses from car financing have risen to a six-year high, new figures show, as the patchy labour market and the mining slump causes more borrowers to fall behind on their payments. Fitch Ratings says the proportion of automobile loans that suffered a loss after lenders sought to repossess the vehicle rose to 0.62 per cent in the June […]

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