Brazilian finance company Creditas e Financeiras has used the asset - backed securities market to generate $ 16 billion to refinance auto loans , despite concerns about loan quality . The company joined forces with Empírica Investimentos Gestão de Auto to create its new investment vehicle , FIDC Empírica Creditas Auto , which offers refinancing at a comparatively low cost relative to banks . It is hoped , however , that the auto loan offering could fit into the gap left by mid - sized and larger lenders , which have largely left the default - stricken market .
Brazilian fintech company Creditas Soluções Financeiras has used the asset-backed debt market to generate $16m to refinance auto loans, despite concerns about loan delinquencies. The company joined forces with Empírica Investimentos Gestão de Recursos to create its new investment vehicle, FIDC Empírica Creditas Auto, which offers refinancing at a comparatively low cost relative to banks. It is hoped, however, that the auto loan offering could fit into the gap left by mid-sized and larger lenders, which have largely left the default-stricken market.