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Tag: subprime
CarMax extends yearlong subprime test
2014-12-30 20:56:17| Auto Dealers - Topix.net
Used-car giant CarMax Inc. says it needs more time to evaluate a subprime lending pilot program at its finance arm. The pilot is almost a year old, having launched last January.
Tags: test
extends
subprime
yearlong
Subprime Is Back
2014-11-24 15:20:37| Auto Dealers - Topix.net
Earlier this year, an Arizona man came off of his shift at a restaurant to find his 2006 Ford Focus gone, suddenly repossessed after he and his wife fell more than 60 days behind on their loan. In Missouri, another worker went to turn on his 1997 Sunfire but found it would not start.
Uber Is Reportedly Pushing Its Drivers To Sign Up For 'Subprime' Auto Loans
2014-11-05 15:50:18| Auto Dealers - Topix.net
On-demand car service Uber is encouraging its drivers to sign up for subprime loans, according to a story by Valleywag's Nitasha Tiku, published Tuesday . When people sign up to drive for Uber, they sometimes don't have their own car or a car nice enough to drive by Uber's standards.
GM Financial subpoenaed as subprime auto probe widens
2014-10-25 13:17:02| Automakers - Topix.net
Investigations of the subprime auto finance business are spreading as General Motors said its lending arm received additional subpoenas seeking details of its underwriting practices. GM Financial, which specializes in loans to people with spotty credit, said in a regulatory filing Thursday that attorneys general of states it didn't identify and other government offices are demanding documents related to its business of making car loans and pooling them into bonds that are sold to investors.
Tags: auto
financial
probe
widens
Risks from subprime look contained: Merrill Lynch
2014-10-11 07:44:46| Auto Dealers - Topix.net
Subprime auto lending may be growing, but there are reasons from both the borrower and the lender perspective why it shouldn't pose the same risks to the economy the way subprime housing lending did, an analyst said Friday. So-called deep subprime lending - to those with FICO scores below 550 - is growing for new car purchases, by 51%, according to Experian data Hanson cites.
Tags: contained
risks
lynch
merrill
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