Creditors Finance Fewer Subprime Consumers Featured

By Staff Writer September 14, 2018

There were 10.2 million auto contracts, totaling $230.6 billion, originated through May, according to Equifax.  

This is a 1.1 percent increase in accounts and a 3.2 percent increase in balances over this time last year.

More than 2 million of consumers financed had a VantageScore 3.0 credit score below 620. This is a 2.5 percent decrease from May 2017.

Through May, 22.8 percent of consumers financed had a subprime credit score, and they accounted for 18.1 percent of origination balances. In May 2017 the account share was 23.7 percent and balance share was 19 percent.

Last modified on Friday, 14 September 2018 01:22

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