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"According to [our] automotive credit analysis, 21.87 percent of all new vehicle loans went to customers in the nonprime, subprime and deep subprime categories. The largest percentage increases were in the two highest-risk segments — deep subprime, which jumped 17.3 percent, and subprime, which jumped 17.8 percent.”
– Experian Automotive, December 1, 2011
Music to our ears.
We’re seeing a lot of activity in the special finance leads market, and this latest data from Experian shows us that the finance lead business is booming because more dealers are getting back in.
It’s been a rough couple of years, but dealers who have stuck with it and know how to handle this kind of consumer are seeing some really nice numbers these days. Including the members of the Carloan.com Dealer Network.
What’s your strategy for getting into this part of the market? If you're already in it, what are you doing to grow your share?