Attitudes Toward Subprime Auto Loans Improving

Subprime loan

Used Car News - May 7, 2013

Sub­prime mort­gages caused big prob­lems in 2008 and 2009 and sub­prime auto was tainted because it shared the same name, said Greg Goebel, CEO of Used Car Uni­ver­sity. Ill-informed peo­ple might see par­al­lels, said Jack Tracey, exec­u­tive direc­tor of the National Auto­mo­tive Finance Asso­ci­a­tion. Informed sources, such as rat­ing agen­cies and credit bureaus, take a very pos­i­tive view of auto lend­ing these days.