Automobile Lending to Non-Prime Borrowers
Wednesday, May 27, 2015 | 2 – 3 p.m. EST
Did you know that over 50 million new and used automobiles were sold in the United States last year, and that in 2013 79% of new car purchases were financed? The demand for auto loans is steadily increasing, and your financial institution must be equipped with the knowledge and tools to serve not only your prime borrowers, but non-prime borrowers with these types of loans.
Non-prime refers to the practice of making loans to borrowers with weaker or limited payment capacity. While these loans may carry more risk, they can undoubtedly be more profitable than prime loans and ultimately increase an institution’s net ROA. In this webinar, the team of experts discuss topics sucj as how to mitigate and assess risk when lending to non-prime borrowers while still remaining compliant, how to evaluate applications and the associated information that may pose more of a liability, and how your technology should be used to support these recommended strategies.
Learn how your financial institution can use auto lending as a tool to broaden your loan portfolio while building and cultivating account holder relationships with both prime and non-prime borrowers!