Subprime

Frothy subprime borrowing drives U.S. sales, raises alarms

1:27 pm U.S. ET | Nov. 8, 2013
As the fifth anniversary of the Federal Reserve's policy of keeping interest rates near zero approaches, the market for subprime borrowing is once again becoming frothy, this time in the car industry. As with mortgages in 2006 and 2007, the central bank's stimulus is making it easier for U.S. consumers with spotty credit to buy cars as yield-starved investors purchase riskier bonds linked to auto loans.... Read More »

 

Subprime auto loans grow as credit standards ease, competition grows

3:11 pm U.S. ET | Sept. 17, 2013
Subprime auto lenders are enabling buyers to borrow more relative to the cost of a car in a sign that underwriting standards are deteriorating amid increased competition, according to Standard & Poor's.... Read More »

 

JIM HENRY

Is it time for lenders to open the spigot?

12:01 am U.S. ET | Aug. 28, 2013
Since 2010, credit bureaus and auto lenders have tallied quarter after quarter of near-record lows for delinquencies, even though volume and subprime loans are up.... Read More »

 

Auto finance growth outlook sparks confidence

5:09 pm U.S. ET | Aug. 21, 2013
The outlook for auto finance growth is encouraging, the latest TransUnion report on auto loan volume and delinquencies shows.... Read More »

 

Low loan losses buoy subprime

12:01 am U.S. ET | Aug. 19, 2013
Even as subprime lending has picked up, resulting in more vehicle sales to credit-challenged customers, delinquencies and repossessions have fallen to record lows, data from Experian Automotive show.... Read More »

 

Signs of life in deep subprime lending

12:01 am U.S. ET | June 10, 2013
Deep subprime lending is finally in recovery mode. "We have certainly seen a lot of growth; there are more loans to be had down in that area," said Melinda Zabritski, senior director of automotive credit for Experian Automotive.... Read More »

 

JIM HENRY

Are worries over slower, smaller tax refunds overblown?

12:01 am U.S. ET | May 22, 2013
Some lenders complained in first-quarter earnings reports about smaller and later tax refunds. IRS refund statistics weren’t down by much, but any change is important because tax refunds contribute to the annual peak in subprime financing, according to dealers and subprime lenders.... Read More »

 

JIM HENRY

Subprime scrutiny could open a real can of worms

12:01 am U.S. ET | May 8, 2013
Here's a disturbing thought: As much as the Consumer Financial Protection Bureau has upset auto lenders and dealers, it hasn't even gotten around to the vast category of subprime auto lending.... Read More »

 

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How a Texas Toyota store solved used-car-supply challenge

How a Texas Toyota store solved used-car-supply challenge

Mike Shaw Toyota in Corpus Christi, Texas, struggled to find good used cars. So it started providing free appraisals to service customers and offered to buy their vehicles on the spot. Mon., April 14
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