Emerging auto-secured loans plummet 71% | Auto finance news

Upstart, an artificial intelligence (AI)-based lending marketplace, saw a series of declines in auto-backed refinancing loans as high interest rates and macroeconomic uncertainty led to a decline in lending from fintech lending partners. recorded that San Mateo, Calif.-based Upstart had 2,856 auto-secured loans totaling $57 million in the third quarter, down 70.9% from the previous quarter. […]

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