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Real Estate News Releases
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(EMAILWIRE.COM, January 04, 2012 ) Wilmington, NC - The sale of new and used cars have been on an upswing for several months. The upswing is in direct contradiction to financial conditions, leading many experts to wonder what the driving force behind the trend is.
According to results published by CNW Research group, a large reason for the uptick seems to be subprime auto loans. Lenders have been approving auto loans for buyers with sub-prime credit at a rate of 53.9% more than earlier in the year. Loans to buyers with solid credit scores (over 650) have only increased by 1.3%.
Reckless subprime lending has been blamed for a portion of the financial meltdown in 2008; however several experts point out that the current trend is more responsible and is helping the economy to recover. ''Easier credit, greater liquidity and the improving economy are all driving the surge in sub-prime borrowing,'' stated Phil LeBeau, a CNBC contributor. He went on to say, ''Banks and the captive finance operations of automakers are seeing the biggest increase in their portfolios. And more importantly, most in the industry see this trend continuing.''
Many experts still believe that the jump in subprime lending, with lenders choosing to chase quick returns over responsible long term portfolios, may lead to another recession in the near future.
About SubprimeAutoLoanLenders.com:
SubprimeAutoLoanLenders.com matches consumers in need of an auto loan with subprime credit to lenders who can finance them. The service is entirely free.
Subprime Auto Loan Lenders
PR Dept
9102086761
contact@subprimeautoloanlenders.com 
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