Summary statistics for continuous variables
| Variable | Description | Mean | Std. dev. | Min | Max |
|---|---|---|---|---|---|
| Requested amount | Loan amount requested by the customer ($) | 27,552 | 14,089 | 7,500 | 357,046 |
| Cash down payment | Amount paid up front by the customer ($) | 1,971 | 3,909 | 0 | 120,000 |
| Loan-to-value ratio (LTV ratio) | Loan amount ($)/vehicle value ($) | 1.43 | 0.44 | 0.16 | 6.08 |
| Total debt service ratio (TDSR) | Annual debt payments/gross income | 0.32 | 0.18 | 0.01 | 8.61 |
| Vehicle age | Age of vehicle (years) | 3.72 | 1.85 | 0.00 | 10.00 |
| Income | Customer monthly income (monthly $) | 5,132 | 3,813 | 0 | 99,000 |
| Amortization | Amortization of loan (months) | 65.77 | 16.90 | 12.00 | 240.00 |
| Customer rate | Customer interest rate (%) | 6.09 | 0.87 | 3.98 | 7.97 |
| Difference | Requested amount ($) − Approved amount ($) | −877 | 3,581 | −257,046 | 28,138 |
| Agent incentive | Commission paid to dealer ($) | 926 | 589 | 19 | 7,957 |
| Cost of funds (COF) | Interest paid by financial institutions for funds (%) | 1.75 | 0.13 | 0.94 | 2.20 |
| Probability of default (PD) | Probability that debtor is unable to repay debt (%) | 4.41 | 4.99 | 0.03 | 12.00 |
| Loss given default (LGD) | Percentage of loan that is lost when default occurs (%) | 35.54 | 17.36 | 20.00 | 60.00 |
| Variable | Description | Mean | Std. dev. | Min | Max |
|---|---|---|---|---|---|
| Requested amount | Loan amount requested by the customer ($) | 27,552 | 14,089 | 7,500 | 357,046 |
| Cash down payment | Amount paid up front by the customer ($) | 1,971 | 3,909 | 0 | 120,000 |
| Loan-to-value ratio (LTV ratio) | 1.43 | 0.44 | 0.16 | 6.08 | |
| Total debt service ratio (TDSR) | 0.32 | 0.18 | 0.01 | 8.61 | |
| Vehicle age | Age of vehicle (years) | 3.72 | 1.85 | 0.00 | 10.00 |
| Income | Customer monthly income (monthly $) | 5,132 | 3,813 | 0 | 99,000 |
| Amortization | Amortization of loan (months) | 65.77 | 16.90 | 12.00 | 240.00 |
| Customer rate | Customer interest rate (%) | 6.09 | 0.87 | 3.98 | 7.97 |
| Difference | −877 | 3,581 | −257,046 | 28,138 | |
| Agent incentive | Commission paid to dealer ($) | 926 | 589 | 19 | 7,957 |
| Cost of funds (COF) | Interest paid by financial institutions for funds (%) | 1.75 | 0.13 | 0.94 | 2.20 |
| Probability of default (PD) | Probability that debtor is unable to repay debt (%) | 4.41 | 4.99 | 0.03 | 12.00 |
| Loss given default (LGD) | Percentage of loan that is lost when default occurs (%) | 35.54 | 17.36 | 20.00 | 60.00 |