Subprime Auto Lending Hits 11-Year Low

Despite an increase in subprime loan volume in the third quarter, auto loans to consumers with the riskiest credit histories hit their lowest overall share of the market in 11 years, according to Experian.

Subprime and deep subprime originations accounted for 21.19% of the total auto loan origination market, down 1.5% from the year earlier, Experian said in its latest report, released December 5. Experian defines subprime borrowers as those with credit scores between 501 and 600. Deep subprime borrowers have scores between 300 and 500.

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