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.
