SUB PRIME AUTO LOANS

Samuel O. CraneCEO & PresidentGrand County Credit Union

30% OF CAPITAL INVESTED IN SUB PRIME LOANS

$2,000,000 X 30% = $600,000 SUB PRIME

THIS IS THE TYPE OF VEHICLE MOST OF MY SUB PRIME BORROWERS WANT TO BUY

THIS MIGHT BETTER SUIT THEM

THE RESULTS AFTER 2 YEARS$180,000 Loan Income

Loyal & Happy Members

$5,000 total losses

20% have refinanced into our Non- Sub Prime rates.

SUBPRIME AUTO RATES (UNDER 600 SCORE)

Term Vehicles 0-2 Yrs Old

24-60 months 16.00%

72 months 17.00%

  Vehicles 3-7 Yrs Old

24-60 months 17.00%

  Vehicles 8+ Yrs Old

24-48 months 23.00%

THE FIRST ORDER OF THE

DAY IS TO SURVIVE ANY DOWNTURNS IN THE REAL ECONOMY…

BUT THE SECOND IS TO BENEFIT FROM

THESE NEW PATTERNS.

THE WRONG WAY FORWARD IN HARD TIMES IS TO TRY MORE OF THE SAME. THE HARD TIMES ARE SURE INDICATIONS AN OLD PATTERN HAS BEEN PUSHED TO ITS LIMITS AND IS DESTROYING VALUE.

-ED FILENE