http://banktalk.org/2010/05/27/buy-here-pay-here-goes-public/ Exploring the Finances of the Unbanked Tue, 22 May 2012 19:08:56 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://banktalk.org/2010/05/27/buy-here-pay-here-goes-public/comment-page-1/#comment-2968 Umbrella Stand · Sun, 07 Nov 2010 16:53:03 +0000 http://banktalk.org/?p=2147#comment-2968 the auto loan that i got this year have a higher interest rate - the auto loan that i got this year have a higher interest rate -

]]> http://banktalk.org/2010/05/27/buy-here-pay-here-goes-public/comment-page-1/#comment-1032 mjdlsantos Tue, 01 Jun 2010 15:42:31 +0000 http://banktalk.org/?p=2147#comment-1032 what about how they stack up to other BHPH locations? what about how they stack up to other BHPH locations?

]]> http://banktalk.org/2010/05/27/buy-here-pay-here-goes-public/comment-page-1/#comment-1031 Adam Rust Tue, 01 Jun 2010 14:39:50 +0000 http://banktalk.org/?p=2147#comment-1031 That data might be in their investor prospectus. I see that in 2008, they bought cars worth about $477 million, and they set aside more than $301 million for expected losses on credit. The average APR, at the end of '08, was 20.6 percent. They have tightened underwriting. They only approved about 12 percent of loan applications from sub-620 credit score consumers in Dec. 09. In 2009, they charged-off 18.2 percent of their portfolio. That is lower than the year before, and probably reflects their tighter credit standards. That data might be in their investor prospectus. I see that in 2008, they bought cars worth about $477 million, and they set aside more than $301 million for expected losses on credit. The average APR, at the end of ’08, was 20.6 percent. They have tightened underwriting. They only approved about 12 percent of loan applications from sub-620 credit score consumers in Dec. 09.
In 2009, they charged-off 18.2 percent of their portfolio. That is lower than the year before, and probably reflects their tighter credit standards.

]]> http://banktalk.org/2010/05/27/buy-here-pay-here-goes-public/comment-page-1/#comment-1018 mjdlsantos Fri, 28 May 2010 13:51:57 +0000 http://banktalk.org/?p=2147#comment-1018 well put..is there anyway to figure out the difference in default rates between these BHPH places and traditional car lending? well put..is there anyway to figure out the difference in default rates between these BHPH places and traditional car lending?

]]>