Courtesy, Flickr
Subprime lending is on the rise throughout the auto industry, up 11 percent from the first quarter of last year. From the perspective of many auto dealers, that's a good thing.

David Kelleher, the current chairman of the Chrysler National Dealer Council, says that lower loan standards have opened a gateway to a whole new kind of customer, mainly high-salary professionals who faced financial distress during the recession.

Now, they've recovered. And they're helping the auto industry do the same.
But these higher-risk customers wind up paying higher interest rates, significantly higher than the average interest rate of 4 percent. The Huffington Post reports that these customers are also at heightened risk for scammers.

Here's a look at the challenges they face as the auto industry increases seeks their business.

I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.

    • 1 Second Ago
  • 2015 Toyota Highlander
    MSRP: $29,765 - $44,140
    2015 Jeep Grand Cherokee
    MSRP: $29,995 - $64,895
    2015 Honda Accord
    MSRP: $22,105 - $33,630
    2015 Honda Civic
    MSRP: $18,290 - $26,740
    2015 Mazda Mazda3
    MSRP: $16,945 - $25,545
    Share This Photo X