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Everyone is Approved: Sub Prime Auto Loan Strategy Under Siege by John Oliver, CFPB, Wall Street, and Growing Diligence of BHPH Dealers
2016-12-07 23:26:19| AutomotiveDigest.com - Automotive Industry News
Situation with Sub Prime Auto Lending: 86% of people get to work by car: A Must to hold down job; Over 25% of auto loans are high risk hence high interest rate 19% is average sub prime interest rate for up to 7 years 30% of subprime auto loans default so repo & re-loan cycle Significance of Where the Industry is & is going: Tired & aged used cars are sold & financed multiple times Industry has a Scam-Extraction Economy Image/Reputation Sub Prime Finance Bubble may be coming; Repeat of home loans BHPH dealers seize opportunity with less down & longer terms CFBP is seeking to police the sub prime market Reputable Sub Prime auto lenders & dealers seek to do it right Sit back & standby to watch a very entertaining, engaging, & timely video.
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Category:Automotive