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U.S. subprime auto loans reach 27% in 2013, reminiscent of the 36% reached in 2006 before the subprime loan financial crisis
09/24/2014
A little starter interrupt device disabling cars of borrowers missing a single payment has reduce the number of delinquent loans from above 20% to 7%, along the way raising privacy concerns, traffic safety concerns. This only increases the lenders (including credit unions) desire to make more subprime loans because they are very profitable at a time of low interest rates, and because of the demand for loans that can be marketed as securities in financial markets. Are regulators again going to sleep at the job?
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