Autoloans.com is a leading provider of no cost auto loan quotes. The site helps bring borrowers and multiple lenders together in an attempt to facilitate low cost auto loans. The site has been tracking an increased number of auto loan originations in 2011.
The numbers started to rise late in 2010 as the recession slowly lifted, but 2011 has seen steady increases every month. The tracked lenders reported that they were loaning more money, including loans to consumers with credit challenges. The credit challenged pay higher interest rates than other borrowers, but the rates are a far cry from the prohibitively expensive rates they once faced, if they managed to get approved.
The number of people needing low credit score car loans has risen considerably since the beginning of the financial meltdown in 2008. It is good to see a loosening of the purse strings to meet that need.