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NATIONAL AUTOMOTIVE FINANCE ASSOCIATION |
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Exclusively Serving the Below-Prime Auto Financing Industry |
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2010 BELOW-PRIME AUTOMOTIVE FINANCING SURVEY AVAILABLEHanover, Md. (July 29, 2010) --- The National Automotive Finance (NAF) Association's 2010 Below-Prime Automotive Financing Survey has been published. Copies are available in pdf format.The survey, conducted by outside consultant BenchMark Consulting International, presents aggregated data from 25 participants, the most ever. Of those, 18 of the financing sources were repeat participants. The companies were divided into small (up to 10,000 accounts), medium (10,001 to 80,000 accounts) and large (more than 80,000 accounts) for accurate comparisons. Among the notable trends reported is that the availability of ABS funding is growing. Also noted is the critical importance of collection effectiveness; consolidation continues; electronic processing continues its slow expansion; contracts longer than 72 months seem to be disappearing; delinquency and loss are higher in 2010 but seem to be under control; and both new and used originations are up. Tables throughout the survey compare the 2010 data with previous results. An appendix shows question by question results - in aggregated format; no results are attributed to individual participating companies. The survey is distributed at no cost to most NAF Association members and companies that participated. For others, the cost is $300. Go to http://nafassociation.com/order_survey_2010.php to order. The NAF Association is the only trade association exclusively serving the below-prime auto financing industry. |