Subprime Approvals up by 60%

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Subprime approvals for both new and used vehicle sales are 62.5% higher than they were one year ago because dealers are finding it easier to place subprime used vehicle paper.
Breaking down its sales predictions, industry expert, CNW thinks franchised dealers will turn 1.33 million used models this month, marketing a 11.7% gain.

Thanks to inventories and supply becoming more stable and improvements in inventory make-up, the firm contends independent dealers are looking at a significant year-over-year used sales gain in September.  Expectations are for independent lots moving 1.28 million units, which would translate to into a 9.7% jump from a year ago.



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