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Nonprime auto lending grows to 31.6% of market in Q1

Deep subprime borrowing grew YoY for banks, BHPH, credit unions

Aidan Bush

Subprime auto retailers reported year-over-year sales increases, while banks lent more YoY to lower-credit borrowers in the first quarter as affordability concerns continue to plague consumers. Conroe, Texas-based buy here, pay here (BHPH) dealer Top Notch Used Cars sold 13 more vehicles in Q1 compared with a year prior, Owner Russell Moore told Auto Finance […]

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