One in Five Families Fell Behind on a Loan Last Year. The Poorest Are Giving Up Their Cars.
The Fed's new survey shows car ownership among the poorest families at a 20-year low, while lenders chase weaker credit…
subprime
Credit Acceptance Is Wiping Out $634 Million in Car Debt. Here’s Who Qualifies, and What the Next Loan Looks Like.
Credit Acceptance Corporation, the Southfield, Michigan lender whose name shows up on many buy-here-style used-car...
The Repo Man Can Take Your Car. He Can’t Take Your Subprime Loan With It.
Subprime car loan delinquencies are climbing again after a record January. The bigger story is what happens after repossession: lenders…
Credit Acceptance Settlement: Who Gets Car Debt Forgiven and What Comes Next
Most car-loan stories end with a tow truck. This one ends, for tens of thousands...
Credit Acceptance’s $694 Million Deal Is 91% Canceled Debt: What Utah Borrowers Get
Subprime car lending runs on one uncomfortable assumption. Some borrowers won’t finish paying, so the...
Tricolor Raised $1.9 Billion on Subprime Car Loans. The SEC Says Its Execs Pledged the Same Ones Twice
The SEC says Tricolor's top executives pledged the same subprime car loans to more than one Wall Street bond deal.…
Subprime Auto Loan Delinquencies Hit 30-Year High as Costs Squeeze Borrowers
Subprime car buyers are falling behind on auto loan payments at the fastest pace in...
The Auto Loan Hangover Is Here: Millions Overpaid for Cars With Money They Didn’t Have
And now they’re whining about the consequences.