June 25, 2024
News

Auto originations at UACC increase by 15%

United Auto Credit Corp.‘s car loan approvals rose by 15% compared to the previous year in the first quarter, as Vroom’s online retail operations reached its final stages. UACC’s indirect loan approvals amounted to $130 million in Q1, a significant increase from the $113 million recorded in both Q4 2023 and Q1 2023, as per Vroom’s May 10 financial report.

FAQ

  • What was the percentage increase in United Auto Credit Corp.’s auto loan originations in the first quarter?
  • How much did UACC’s indirect originations amount to in Q1?
  • What were the loan approval figures in Q4 2023 and Q1 2023 for UACC?

Conclusion

United Auto Credit Corp. saw a significant uptick in auto loan originations in the first quarter of the year, with a 15% increase year over year. This growth is attributed to the nearing completion of Vroom’s e-commerce wind down.

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