Subprime lending share nears Great Recession lows
Subprime financing segments declined to near-record lows in the third quarter on the heels of tightened underwriting standards due to pandemic uncertainty. The share of subprime financing for total new and used vehicles declined 170 basis points year over year to 16.6% according to Experian’s third-quarter State of the Automotive Finance Market report released today. […]
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