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Last updated on April 20, 2014 at 14:04 EDT

It’s easier than ever to buy a new car this summer

June 20, 2012

AUBURN HILLS, Mich., June 20, 2012 /PRNewswire-iReach/ — More consumers with lower credit scores are buying more cars, according to Experian Automotive’s latest automotive credit analysis.

(Photo: http://photos.prnewswire.com/prnh/20120620/CG26108)

“This is great news for today’s car buyers who have less than stellar credit,” says David LaLonde, senior vice president of Auto Credit Express (ACE).

Headquartered in metro Detroit, Auto Credit Express specializes in auto loans for people with bad credit through its website,www.autocreditexpress.com.

We take pride in helping first time buyers and people with slow pay, repossession, even after bankruptcy, get financed for a new or late model car,” LaLonde says. “We help real people across the country every day. It’s one of the things that make us different, and it makes us better.”

The recent news from Experian creates even more opportunities for ACE to help put car buyers with bad credit behind the wheel of a new vehicle, he said.

Experian’s analysis of the first quarter of 2012 found:

Credit scores dropped

  • In the first quarter of 2012, the average credit score of someone buying a new car dropped 6 points to 760, close to the average score of 753 in 2008.
  • Likewise, the average credit score for financing a used vehicle dropped four point to 659. In 2008, the average score was 653.

Amount financed increased

  • The analysis also found there was an increase in the amount of financing increased. The average amount financed on new vehicles rose by $589 in the first quarter, reaching a total of $25,995.

Loan terms improved

  • Experian Automotive also reported that lenders continued to set favorable terms for consumers during the first quarter. Interest rates were lower and loan terms were longer, giving consumers access to potentially lower monthly payments.

The Auto Credit Express service has closed over $1 billion dollars in auto loans online for Americans and Canadians with bad credit across the US and Canada. We overcome most problems by providing fast, non-threatening online car loans for people with bad credit.

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For more information, visit: www.autocreditexpress.com.
Auto Credit Express Corporate Headquarters
3271 Five Points Drive, Suite 200
Auburn Hills, MI 48326
Phone: (248) 370-6600

Media Contact:

George Hrisoulis, AutoCreditExpress.com, 248-370-6631, ghrisoulis@goacegroup.com

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SOURCE Auto Credit Express


Source: PR Newswire