$10.4 Billion. And the Fraud Your Lender Never Saw Coming.

Auto lending fraud just crossed $10.4 billion. The three schemes growing fastest are ones most dealers have never heard of. A fake dealership applied for funding last month. It did not exist.

They Are Not Going Delinquent Because They Do Not Want to Pay. They Cannot Get Out.

Subprime delinquency is at a 32-year high. 30% of trade-ins carry negative equity. So why are buyers going 90 days past due instead of coming back to a dealer? Because every exit was already sealed.

84-Month Auto Loans Are Almost As Common As New Leases

And growing at a faster rate. What it means for dealers.