Non-Prime Archives

Rising Consumer Debt and Auto Finance: Why Smarter Decisioning is More Critical Than Ever

As household debt in the U.S. continues to soar, the auto finance industry faces growing risks — and growing opportunities — in how it navigates consumer credit challenges. According to Experian, auto loan balances alone ballooned from $1.1 trillion in...

April 27, 2025

Survey Reveals Gaps in Americans’ Credit Management and Financial Literacy

Automotive Finance Consumer Credit

Survey Reveals Gaps in Americans’ Credit Management and Financial Literacy

The importance of maintaining good credit is a well-known principle in personal finance. Yet, a recent survey by BadCredit.org has uncovered that a significant number of Americans are not actively managing their credit health. The study, which polled 500 adults...

October 3, 2024

Survey: 69% of near and non-prime consumers looking to pay off contract early

Source: AutoRemarketing – January 29, 2024 – Open Lending Corp. offered a glimpse into some of the insights found through its newest study on vehicle accessibility and automotive financing perceptions among near- and non-prime consumers. The report builds on Open Lending’s...

January 29, 2024

Transunion’s Q2 2023 report: Canadians are sinking deeper into debt

Automotive Finance Automotive Lending Consumer Credit

Transunion’s Q2 2023 report: Canadians are sinking deeper into debt

As living costs skyrocket, Transunion’s Q2 2023 report uncovers a disturbing trend: Canadians are sinking deeper into debt. From soaring auto-loan balances to increased credit dependency and alarming delinquency rates among Gen Z, the nation’s financial resilience is at stake....

September 1, 2023

Auto credit tightens again with banks expecting it to remain that way

Automotive Finance

Auto credit tightens again with banks expecting it to remain that way

Cox Automotive recently released a report stating that credit availability for auto finance has reached a two-year low. The April 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices, conducted by the Federal Reserve, further indicated that this trend...

June 16, 2023

Dealer interest in subprime finance grows in Canada

Automotive Finance Automotive Lending Consumer Credit Credit Approvals Non-Prime Financing

Dealer interest in subprime finance grows in Canada

By Sarah Rubenoff, Correspondent at AutoRemarketing Canada. Source: https://www.autoremarketing.com/arcanada/dealer-interest-in-subprime-finance-grows-in-canada There is a bit of a learning curve in the world of subprime auto finance, but more dealers, franchised and independent, are entering the business and implementing subprime in an effort...

June 6, 2023

Auto loan interest rate highest in 3 years

Automotive Finance

Auto loan interest rate highest in 3 years

Auto loan interest rate highest since 2019; average amount financed hits all-time high and more consumers are paying $1,000 monthly, according to latest Edmunds report. From GAIL KACHADOURIAN HOWE (Automotive News) Auto loan interest rates soared to their highest levels...

October 6, 2022

Auto defaults now sit 32 basis points higher than all-time low

Consumer Credit

Auto defaults now sit 32 basis points higher than all-time low

Auto Remarketing – Perhaps your portfolio is experiencing a bit more turbulence, but overall auto defaults are just 32 basis points higher than the all-time low set a year ago. That metric surfaced on Tuesday when S&P Dow Jones Indices...

July 19, 2022

Explaining what 75 basis-point rise in interest rates might do within auto financing

Automotive Finance

Explaining what 75 basis-point rise in interest rates might do within auto financing

(Source: AutoRemarqueting) Experts from Cox Automotive and Edmunds offered perspectives on what might happen within auto financing after the Federal Reserve made its largest increase interest rates at a single point since 1994. The Federal Open Market Committee voted 10-1...

June 16, 2022

DecisioningIT named Top 50 Most Innovative Companies to Watch 2022

Automated Decisioning Automotive Finance Automotive Lending Consumer Credit Credit Approvals Digital Retailing F&I Non-Prime Financing Prequalification

DecisioningIT named Top 50 Most Innovative Companies to Watch 2022

Humans have been thriving on innovation since the dawn of time. Technology innovation was a game changer in human lifestyle, and we haven’t looked back since. With an array of technological solutions for almost every problem, technology began to grow,...

May 1, 2022