According to CNBC over 40% of new auto loans last quarter were subprime.
Yep. And I’ll bet a disproportionate share of those are for GM and Chrysler brands.
‘Liar loans’ brought down housing...
http://www.autoblog.com/2012/12/07/subprime-financing-on-the-rise-in-new-car-sales-leasing-too/
...We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of “nonprime, subprime, and deep subprime,” loans has grown...
...At 818, Volvo maintains the highest per-owner credit score, while Mitsubishi has the lowest, at 694...
...It all points to an industry that is eager to maintain the wave of recovery even at the risk of potentially aggressive lending practices.