Car and trucks loans experience higher delinquency
Just when HSBC thought subprime issues couldn’t get much worse analysts took a look at car and truck loans. HSBC Auto Finance is part of HSBC Finance, formerly Household International. Rising delinquency rates on car and truck loans have some industry analysts concerned that subprime mortgage troubles could spill into the automotive finance business. John Casesa, managing partner for the Casesa Shapiro Group, an auto industry financial advisory firm, said there’s no question that the mortgage woes will spill into car and truck financing.
“The only question is how big a worry it is,” he said
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i find this very interesting. especially considering the fact that in the past several months HFC has really pushed AE’s to sign more auto loans to make up for the loss of some real estate products.
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