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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...

Auto Loans At All Time High

The amount borrowed by Americans to pay for vehicle purchases climbed to a record high of $968 billion in the third quarter.  Higher vehicle prices and an increase in auto sales, up 5.8 percent from a year ago, have driven increased borrowing. The majority of money borrowed, 61.3 percent, is by drivers with prime or super prime credit ratings. Borrowing by drivers with shaky credit,...