Subprime auto debt reportedly booms even as borrowers struggle
Bloomberg says its analysis of nearly 3 million auto loans found that four leading subprime lenders took different approaches to customers in distress.
TLDR
Bloomberg reports that the $104 billion market for subprime auto debt is booming even as borrowers struggle. It says it analyzed nearly 3 million loans that four leading subprime lenders underwrote and put into publicly securitized asset-backed securities deals from 2021 to 2023, finding different approaches to distressed customers as the loans aged.
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