Subprime Auto Lenders & Credit Unions
Type 1 Systems platforms offer Subprime Auto Lenders & Credit Unions a way to mitigate their risk, maintain a healthy portfolio and increase their overall revenue. As recently reported by John Oliver, nearly one quarter of all car loans qualified are subprime auto loans. The Federal Reserve Bank of New York in 2015 reported these loans at a 10 year, pre-crisis high. While the consumers pose a potential risk for non-payment, our platforms offer a simple way to mitigate this risk and ensure proper recovery of the vehicles should the need to arise. This helps maintain the integrity of the vehicles and their resell value. However, it also offers Lenders & Credit Unions the ability to approve higher risk loans. Enabling them to increase their overall revenue all a while helping those that need a second chance.