The advance rates presented for each Consumer Loan assignment year change over time due to the impact of transfers between dealer and purchased loans. Under our portfolio program, certain events may result in dealers forfeiting their rights to dealer holdback. We transfer the dealer's Consumer Loans from the dealer loan portfolio to the purchased loan portfolio in the period this forfeiture occurs.
Although the advance rate on purchased loans is higher as compared to the advance rate on dealer loans, purchased loans do not require us to pay dealer holdback.
Consumer Loan Volume
The following table summarizes changes in Consumer Loan assignment unit volume in each of the last five quarters, as compared to the same period in the previous year:
|Period||Year over Year Percent Change in Unit Volume|
|March 31, 2012||10.6||%|
|June 30, 2012||7.3||%|
|September 30, 2012||5.4||%|
|December 31, 2012||2.4||%|
|March 31, 2013||-2.9||%|