Exeter subprime faces used car plummet

auto loans
By Ryan Bolger
15 Oct 2014

Non-bank auto finance company Exeter Finance Corp issued a $500m subprime auto ABS deal on Wednesday amid turmoil in US markets and steady criticism over subprime auto financing.

Collateral in the deal, EART 2014-3, is mostly made up of used car loans, which could make some investors nervous as concerns persist around the US auto markets.

Morgan Stanley analyst Adam Jones wrote in a note on ...

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