A major subprime auto lender just went belly up. It won’t be like subprime mortgage lenders sparking the Great Recession
Tricolor, a major subprime auto lender specializing in buyers without social security numbers or credit histories, is going out of business. The company filed for bankruptcy on Wednesday. Most companies that file for bankruptcy intend to stay in business. But Tricolor does not – it plans to liquidate. Tricolor has not been available for comment. […]