Delinquency rates push up subprime APRs | Auto Finance News | Auto Finance News

Delinquency rates push up subprime APRs

Record severe delinquency rates – loans 60-or-more days past due – are the key reason that subprime annual percentage rates have increased in a year in which bond yields have decreased, Jonathan Smoke, chief economist at Cox Automotive, told Auto Finance News. Delinquency rates for subprime accounts notched 5.38% of total volume in November, according to Equifax data. “The higher […]

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