Why you should care about these 5 subprime auto finance predictions, from Forbes.
Over the past five years, payday lending has evolved from a marketplace dominated by old-school lenders into one that is pioneering lower cost credit from a new breed of technology and data-driven lenders. Just as payday lending evolved to better meet the needs of the underbanked, so will auto lending change to meet the needs of non-prime customers. That industry is large, it’s growing, it’s incredibly fragmented, it’s inefficient, it’s lopsided (the house mostly wins), and it’s one of the largest yet worst consumer financial experiences. New technology, new business models and new regulation represent an enormous opportunity for incumbents and entrepreneurial thinkers to create a more efficient and more transparent marketplace. Here’s how I place my bets (and not just in auto): In five years…
