‘Deep’ Subprime Car Loans Hit Crisis-Era Milestone
- Recent deep subprime car-loan performance ‘awful’: Equifax
- Growing delinquencies coincide with increase in competition
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Amid all the reflection on the 10-year anniversary of the start of the subprime loan crisis, here’s a throwback that investors could probably do without.
There’s a section of the auto-loan market -- known in industry parlance as deep subprime -- where delinquency rates have ticked up to levels last seen in 2007, according to data compiled by credit reporting bureau Equifax.