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US: Q4 2011 auto loan interest rate lowest since ’08

Great news! More new cars being sold means more trades into the market! Experian Automotive said the US automotive loan market showed continued improvement in the last quarter of 2011 with interest rates for new and used vehicle loans reaching the lowest levels since 2008.

According to its quarterly automotive credit analysis, average credit scores for new and used vehicle loans also dropped, the%age of loans to customers with nonprime, subprime or deep subprime credit scores increased, and lenders increased their willingness to make loans between six and seven years long. READ THE FULL ARTICLE: http://ow.ly/9fB3D

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About absautoauctions

The country's largest "sealed-bid" auto auction with locations in Southern and Northern California, Nevada, Oregon, and Texas.

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