BankProspector - Distressed Auto Loans

Non-Performing Automobile Loans

While acquiring and servicing auto loans is similar to other note types, the repossession process is quite different.

When a borrower finances a vehicle, the lender is granted a security interest in the car. This typically allows the lender to repossess the vehicle without prior notice if the loan is in default. Compared to real estate foreclosure, repossessing a vehicle is generally faster and less complex.

As with other notes, you have options. You can purchase the loan and begin collecting payments, or repossess the vehicle and resell it. While repossession laws vary by state, a loan in default is often sufficient grounds to take possession.

How to Find Non-Performing Auto Loans in BankProspector

Auto loan data in BankProspector functions similarly to other asset classes.

From the main Bank Search page, you can select Auto Loans to view current national data. From there, you can filter by loan status to identify banks holding non-performing auto debt.

Clicking into a bank’s profile provides historical data on its auto loan portfolio, allowing you to track performance trends over time and identify potential opportunities.

Auto loan filters are also available within Bank Search, making it easy to target this asset class alongside others. These loans can be a useful entry point for smaller deals or a way to expand into a new asset category.

Repossessed Automobiles at Credit Unions

BankProspector includes data on repossessed automobiles held by credit unions. At this time, filtering and search functionality for this asset type is not yet available. If there is strong subscriber interest, this may be added in the future.