The Q2 2012 analysis from Experian Automotive shows that lenders are still taking a cautious approach to nonprime, subprime and deep subprime risk tiers.
Find out how loans to credit-challenged customers fared in Q2.
Experian Automotive reports that loans to customers in the nonprime, subprime and deep-subprime risk tiers accounted for more than one in four new vehicle loans in Q2 2012.
With 25.41 percent of all new vehicle loans to customers in the nonprime, subprime and deep subprime risk tiers, loans to credit-challenged customers were up 14 percent compared to Q2 2011. In addition, new vehicle loans to credit-challenged customers now are higher than they were in Q2 2007 (24.96 percent) and Q2 2008 (24.49 percent) just prior to the financial market crisis. [read the full article for more findings]