Non-Prime Portfolios: The Three Factors that Most Influence Investors
When the economy is booming, everyone wants to finance new car purchases. And why not? New car buyers tend to be prime customers. They bring high credit scores and repeat business.
That is, until the economy sours and gas prices soar. That’s when prime buyers join the legions of non-prime car buyers who collectively purchase an estimated 8 million used cars a year – a number that is likely to grow as mortgage and other credit default rates increase and ever greater numbers of car owners decide to trade in their gas guzzler for one with a more affordable monthly payment.
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