Tuesday, May 29, 2012

Got A Pulse? Buy A Car: Sub Prime Riding High Again

Easy credit is coming back: U.S. lenders extended to car buyers some of the easiest credit terms since the financial crisis in the first quarter, credit research company Experian told Reuters.

People with subprime credit scores receive loans again, interest rates are down and there is  more time to repay.

Says Reuters:

"The relaxed terms make it easier for individuals to buy cars, which is good for car dealers, manufacturers and the economy. But more aggressive lending also increases the chances of another round of losses for banks if borrowers lose their jobs and cannot keep up their car payments."


from The Truth About Cars http://www.thetruthaboutcars.com

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