We haven't seen the latest results for Q2 from Experian Automotive yet, but a couple of news outlets are still keeping our favorite topic - subprime auto finance or "special finance" - in the spotlight:
In recent days, FICO announced the findings from their most recent quarterly survey of bank risk professionals. According to their results, they found that "more than 50 percent of respondents expected the auto sector to see the largest increase in 2012" when it came to borrowers with subprime credit. Big quote for us:
"We are clearly seeing a loosening of credit in the auto finance market, with lenders responding to increased consumer demand," said Dr. Andrew Jennings, chief analytics officer at FICO and head of FICO Labs. "This is good news for car dealers and it should help the auto sector continue its recovery."
The best piece of recent news was provided by Auto Remarketing, which actually published the results of an informal poll by Melanie Zabritski director of automotive credit for Experian Automotive. The best quote: “There is just a great sense of optimism for the marketplace of expected growth. I think we’ll see the growth both in volume as well as more of the subprime business coming on the books.”
And when you’re done there, don’t forget to check out our Volume Estimator to see how you can get your piece of the resurgent special finance market.