What a difference four years can make. Not that long ago, with the economy in the gutter due to the recent collapse, car buyers were unable to find banks to fund them the money needed to purchase. Since then, the economy has bounced back and so has the lending. What was a mere fantasy years ago is now a better reality with interest rates that are finally returning to where they were before the recession.
Bloomberg writes that lenders are very optimistic about the year to come. In February, the U.S. light-vehicle sales had an up-tick of 3.7 percent. “The availability of consumer credit is plentiful, “says Kurt McNeil, the VP of US sales operation for GM.
Low interest rates and the availability of credit are the biggest reasons that the US auto sales have gotten a boost. It rose 13 percent just last year which marks that as the largest annual increase since 1984. Another reason is that employment has increased, which has caused dealers to increase their leasing, knowing that buyers will be better on paying off loans.
The market is recovering and car buyers are finding the necessary loans readily available. Interest rates are low and are coming down to the point of where they were before the recession took its toll. All around the nation, banks and lenders are doing their best to grab attention to let buyers know that dealerships are open for business in the best way.
That includes Bayside Chrysler Jeep Dodge. Serving the Queens, Bronx, Manhattan, and Long Island Area with quality customer care and experts that work diligently to get car buyers the loans they need. We love to say yes. Like us on Facebook and follow us on Twitter for tips on purchasing a vehicle and for special monthly offers.
