In another effort to drive in more business, some auto lenders, including credit unions, may be more willing to be flexible with credit-challenged consumers.
Experian Automotive recently said 21.87% of all new vehicle loans went to customers in the nonprime, subprime and deep subprime categories, according to its most recent quarterly data.
The largest percentage increases were in the two highest risk segments–deep subprime, which jumped 17.3%, and subprime, which jumped 17.8%. Nonprime loan shares also increased by 12.5%.
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