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January 1, 2011
Subprime car loans
by Dave LaLonde - Lenders
When people talk about sub prime loans, most think of home loans, but sub prime loans reach beyond the housing market. There are millions of borrowers that have less than perfect credit. Sub prime loans have increased by 13% in the third quarter of 2010.
According to a news release from Experian; car loan delinquencies fell in the first quarter of 2010, for the first time in three years. Default rates have dropped by 28% from the previous year; meaning that banks are feeling more confident in lending to more sub prime customers. (Read More…)
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