July 25, 2024
News

Nonprime lenders anticipate growth in originations in 2024 despite increased cost of funds

Subprime lenders anticipate a rise in originations in 2024 despite the escalating cost of capital and challenges in credit performance caused by higher interest rates. A survey conducted by the National Automotive Finance Association revealed that nonprime lenders had mixed opinions on the competitive landscape. The survey involved 24 respondents from the non–prime sector.

FAQ

  • What factors are contributing to the growth in originations for nonprime lenders?
  • How are nonprime lenders navigating the challenges posed by elevated interest rates?
  • What were some of the key findings from the survey conducted by the National Automotive Finance Association?

Conclusion

Despite facing obstacles such as rising costs and credit performance issues, nonprime lenders remain optimistic about the growth potential in 2024. The competitive market poses challenges, but the survey results indicate a diverse range of opinions within the nonprime lending sector.

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