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Back to Auto Loan News
3-20-2007
Despite the Fed's recent interest rate cuts, auto loan interest rate climbs slightly this week. According to Bankrate, the new 60 month auto loan is up to 6.80%.
Auto loan rates will certainly drop, but do not expect any major reduction in the interest rate anytime soon. Auto loan lenders are expecting heavier loses due to an ever increasing reposession rate. Some major lenders have seen heavier loses due to increased fuel cost and spillover from the mortgage finance crisis. With increased financial pressure on the consumer, many auto loan lenders are pulling back their lending criteria. Making it more difficult for auto buyers with marginal credit to get an auto loan. Check This tightening credit market has opened the door for the online auto loan financing industry. Consumers are abandoning the traditional auto financing route and many are seeking websites who match their auto loan application to a lender's preset criteria.
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The operator of this website is not a lender and does not make loan or credit decisions in connection with its loan matching service. Completion of this application in no way guarantees that you will be approved for an auto loan. This site will attempt to match you with an auto loan lender based on your application. This service is not available in all states and the states serviced by this Website may change from time to time and without notice.
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