3. Auto Lending Has Strongest Origination Volume in Eight Years

Equifax

  • Auto delin­quen­cies have declined to lev­els last seen in mid-2006
  • More cred­it is wide­ly avail­able to those with high­er-risk cred­it  sub­prime bor­row­ers
  • Con­sumer choic­es and vehi­cle demand for new cars is ris­ing
  • Mix of buys shift­ed towards eco­nom­i­cal­ly and envi­ron­men­tal­ly friend­ly vehi­cles
  • Total num­ber of new auto loans orig­i­nat­ed was 20.2 mil­lion, total­ing $405.2 bil­lion
  • Auto delin­quen­cies have declined to lev­els last seen in mid-2006
  • Strength in the per­for­mance of loans booked help­ing to make cred­it avail­able
  • High­er-risk cred­it pro­files, name­ly sub­prime bor­row­ers
  • Sub­prime auto lend­ing now accounts for 31 per­cent of all auto loans orig­i­nat­ed today

 

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