Subprime Lending Resumes

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Ward's Dealer Business - February 28, 2009

Sub­prime lend­ing to buy used vehi­cles is recov­er­ing slightly from 2008’s 16% but still only 18% now when it was 67% in 2007. With 45% of con­sumers hav­ing impaired credit, it is essen­tial for deal­ers to find a way to do busi­ness with them. Many more loans are now depen­dent on down pay­ments and co-signers.