Cet article est une Preprint
Les preprints sont des rapports de recherche préliminaires qui n'ont pas été certifiés par l’évaluation par les pairs. Ils ne devraient pas être considérés comme guidant la pratique clinique ou les comportements liés à la santé et ne devraient pas être rapportés dans les médias comme des informations établies.
Les preprints publiées en ligne permettent aux auteurs de recevoir des commentaires rapidement, et toute la communauté scientifique peut évaluer indépendamment le travail et répondre en conséquence. Ces commentaires sont publiés avec les preprints que quiconque peut lire et servir d’évaluation post-publication.
COVID-19 and Auto Loan Origination Trends (preprint)
ssrn; 2021.
Preprint
Dans Anglais
| PREPRINT-SSRN | ID: ppzbmed-10.2139.ssrn.3897908
ABSTRACT
We study the impact of the COVID-19 crisis on auto loan origination activity during 2020. We focus on the dynamic impact of the crisis across lending channels, Equifax Risk Score (Risk Score) segments, and relevant geographic characteristics such as urbanization rate. We measure a significant drop in auto loan originations in March‒April followed by a near rebound in May‒June. Originations remain slightly depressed until October and fall again in November‒December. We document the largest drop and the smallest rebound in the subprime segment. We do not find any suggestive evidence that used car loan originations exhibited patterns significantly different from the rest of the market. We also document a more pronounced impact in the Northeast and the Pacific, seemingly influenced by the higher urbanization rate in these regions. Bank-financed originations experienced the largest drop and the smallest rebound, thus resulting in a loss of market share and continuing a 10-year trend of bank share loss in auto lending. We find that the drop in auto loans originated by banks was particularly significant among subprime borrowers. The impact of the COVID-19 crisis across origination channels contrasts with the experience during the Great Recession when banks contributed the largest support to the auto loan origination segment during periods of stress and finance company-originated auto loans were depressed.
Texte intégral:
Disponible
Collection:
Preprints
Base de données:
PREPRINT-SSRN
Sujet Principal:
Fractures de fatigue
/
COVID-19
langue:
Anglais
Année:
2021
Type de document:
Preprint
Documents relatifs à ce sujet
MEDLINE
...
LILACS
LIS