More subprime borrowers defaulted on their car loans in the years following the Great Recession than during or before the crash.
New Car Financing
Even as some experts predict new car sales could top 16 million in 2014, there could be a storm brewing for maintaining current sales and inventory levels. According to Automotive News, consumers are buying new cars because it's easier to get a loan – even if that loan is for longer terms and to buyers with subprime credit – which, surprisingly, is considered anything below a 680 credit score.
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