Subprime automobile loan problems

Help Support CattleToday:

hurleyjd

Well-known member
Joined
Sep 7, 2006
Messages
5,685
Reaction score
503
Location
Yantis, Texas
Subprime auto loans with this lender seems to be about the same as the subprime real estate loans in the past. How will this play out.
https://www.msn.com/en-us/money/companies/subprime-auto-giants-loans-souring-at-fastest-clip-since-2008/ar-AAJkF9n?ocid=spartandhp
 

greybeard

Well-known member
Joined
Jul 5, 2012
Messages
22,755
Reaction score
4,614
Location
Copperas Cove Tx
For a roughly $1 billion subprime auto bond that priced earlier this year, Santander Consumer verified fewer than 3% of borrower incomes, even though income verification is a critical way to combat fraud.
:lol: :roll:

What a deal.....
 

Latest posts

Top