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Tuesday, May 29, 2012

ALERT: U.S. auto lenders ease credit standards, terms to drive borrowing

BREAKING NEWS ALERT May 29, 2012
 
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U.S. auto lenders ease credit standards, terms to drive borrowing
U.S. lenders gave car buyers some of the easiest credit terms since the financial crisis in the first quarter as they competed to make more loans to borrowers they see as safe. Lenders also provided more money to people with subprime credit scores, cut interest rates and granted more time to repay, Experian Automotive said in a report.
 story 
 image The size of new-car loans grew in the first quarter, with the average amount financed rising $589 to $25,995.
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