NAF Association Publishes Non-Prime Study
HANOVER, Md. —The National Automotive Finance Association announced it has published its 2008 Non-Prime Automotive Financing Survey.
The survey, conducted by outside consultant BenchMark Consulting International analyzes 2007 year-end data.
This year, 26 companies participated in the survey, representing large (100,000 and more accounts), medium (fewer than 10,001 to 100,000 accounts) and small (up to 10,000 accounts) segments to make the data relevant for companies of all sizes.
More than 3 million accounts were represented in the survey with principal balances of about $40 billion.
The survey is designed to offer insightful analysis of portfolio performance by credit quality, terms and loan-to-value ratios.
It explores various aspects of non-prime finance, such as buy rate and contract rate APRs by loan-to-value and term segmentation. Additionally, the study includes more analysis by FICO scores than in years past.
The survey will be available the first week in September and is distributed at no cost to the companies that participated. It is also available at no cost to NAF Association members not eligible to participate in the survey.
For others, the cost is $300. Visit www.nafassociation.com to order online.
Editor's Note: For more details and commentary on the study, stay tuned to SubPrime Auto Finance News.