OCTOBER 23, 2015
? Today Houston-based Subprime
Analytics, which provides computerized portfolio analysis and metrics used to
evaluate subprime auto finance underwriting performance and practices,
announced a strategic alliance with Vincentric, LLC (“Vincentric”). Vincentric
provides data, knowledge, and insight to the automotive industry by identifying
and applying the different aspects of automotive ownership costs using its
proprietary “Dynamic Cost to Own” database.
Ken Shilson, President of Subprime Analytics and Founder of
the National Alliance of Buy Here Pay Here Dealers (NABD) indicated today that,
“Our analytical services clients can now determine the best vehicle for each
customer for the entire life of a buy here, pay here (BHPH) installment
contract. In the highly competitive environment of today, it is vital that
vehicles sold to financially challenged consumers “stay sold”! Good
underwriting should include a careful evaluation of the customer’s ability to
repay, and the vehicle operation, maintenance, and repair costs should be
considered,” Shilson explained.
Shilson continued, “BHPH customers generally have limited
liquidity, financial capacity, and flexibility, so the monthly and annual costs
to operate, maintain, and repair the vehicle they purchase impact their ability
to repay their debt. Subprime Analytics’ vehicle data together with components
of the proprietary Vincentric cost of ownership data will give operators tools
to make more informed underwriting decisions and stock the right vehicle
inventory for their customer base.
“Prior to the formation of the alliance, Subprime Analytics
and Vincentric performed extensive testing of several thousand transactions,
confirming that they can identify the vehicles that work best for lower-income
customers. This information can be used to mitigate portfolio risk and reduce
default rates. These combined analysis tools are now available for Subprime
Analytics customers who engage us, Shilson said.”
At the upcoming NABD BHPH East Coast Conference in Orlando,
Florida on November 3-5, 2015, a panel of experts will discuss subprime auto
underwriting practices that work successfully today,” Shilson explained. “The
Vincentric vehicle operating cost data is a ‘game-changer!” he said. Dave
Freed, who leads Business Development and Market Analysis at Vincentric, will be
one of the panelists on hand who will explain how to apply their data to “Keep
More Vehicles Sold”!
More information about the NABD Conference is available at www.bhphinfo.com or by calling (832) 767-4759.
Contact for Subprime Analytics: Contact for Vincentric, LLC
Mr. Ken Shilson Mr.
2180 North Loop W, Ste 270 30200 Telegraph Rd Ste 216
Farms, MI 48025
Tel. (832) 767-4759 Tel.