Bulk of CUDL’s Used Car Loans in Prime Segment
Through the end of April, 62% of credit union auto buying service CUDL’s used car loans were in the prime category, the company said.
The non-prime segment has grown from 23% in 2010 to 29% through April, according to CUDL based in Ontario, Calif.
For the same period, more than 225,533 auto loans have been financed on the CUDL platform, the company said. Year-to-date growth was 15.9% at the end of April.
CUDL said total vehicle sales in the new and used categories have climbed to highest level since September 2007 reaching 22.1 million vehicles sold through May 2013, which was a 5% increase over May 2012.