Non-prime auto loans have steadily increased since 2012 due to sheer growth in the number of non-prime customers, a willingness to take on more risk, larger loans, interest rates and technological advances.
As the market segment has grown, so has the competition. Lenders are buying deeper and seeing delinquency rates start to climb. There is a constant push for greater efficiency… faster decisions, new data sources, automation… to impact credit quality.
To stay competitive, you need non-prime credit risk and consumer data, and risk models from FactorTrust.
FactorTrust is the leading non-prime credit bureau that provides consumer and credit history information not reported to the Big 3 credit bureaus. Data is reported by our lender contributors in real-time or daily. Access unique, proprietary data and auto finance risk scores on non-prime consumers, including:
As the non-prime market has grown into an $85 billion dollar industry, so have the depth and breadth of our proprietary data. Our data is packaged into credit risk and credit marketing solutions to provide you with actionable intelligence including our proprietary auto finance risk score.
Click here to learn more.
FactorTrust formed an Automotive Finance Practice to address the specific needs of non-prime auto lenders and streamline access to useful data on millions of non-prime consumers. Lenders, large and small, have shared their positive results.