Investor Presentaiton
Unique direct-to-consumer auto product
Direct Auto product is an extension of our
successful Secured Personal Loan product,
offering borrowers a lower rate, larger loan option
Product type²
New Borrowing on
Free & Clear Car
19%
.
.
Auto secured loans tend to be top of
customer payment hierarchy
Direct Auto must pass standard OneMain
ability-to-repay underwriting as well as
traditional auto underwriting
~$21.0B in originations since June 20141
• Payment history with former lender is an important
underwriting consideration / loss predictor
OneMain Financial.
1. Represents total Direct Auto originations for OneMain Holdings, Inc. as of June 30, 2023.
2. Represents total Direct Auto originations for OneMain Holdings, Inc. LTM as of June 30, 2023.
Cash Out Refinance
74%
Purpose
Interest Rate
Underwriting
Verification
Closing
Vehicle Purchase
7%
Direct Auto
Predominantly cash-out refinance
Interest rate set centrally
(no branch input)
Ability to pay underwriting
Income verified
Loan closes directly with borrower
32View entire presentation