Wednesday, August 29, 2012

Financing Expanding for Auto Lending

Auto lending is at "the highest level since the first quarter of 2009" according to a WSJ article I recently read. Apparently, per the article, when people's budgets get tight, they'll forego paying their mortgages before they forego making their car payments because it's relatively easy for the banks or other financial institution to re-possess a car. (It's obviously significantly more difficult to foreclose on a home, even if you live in a non-judicial foreclosure state like Georgia.)

So if you are in the market for some company cars, now is a good time to go for it. Or, if you wish to offer employees an additional benefit, consider helping them to finance a new or used car. Or, if you have a tiny business and just need a few thousand in funds, assuming your vehicle is paid off, you can re-finance your car and pull funds out.

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