Credit Loan > Auto Loans > Rebates and Incentives Are Making It Easier To Get Auto Loans

Auto Loans In A Down Market Are Still Available

With all of the new stimulus deals coming out of Washington, many people are wondering when they will start seeing the benefits. The deals were designed to increase the availability of financing for consumers. And recent data is showing that these policies are starting to give a boost to auto loans across the nation.

It is not only the push from Washington that is giving a lift to auto sales and auto loans. Since the fall of 2008, car sales have been down in some regions by double digits. The major car manufacturers are currently offering some of the best rebates and incentives in years, bringing buyers to the showroom floor.

With all of the incentives and the prime interest rate at its lowest level in decades, potential new car buyers are finding that getting a new car is a better deal than a used car, depending on the make and model.

Those with good credit can get auto loans on just about every car with zero percent interest or they can take advantage of huge rebates and still get financing far below interest rates charged on used cars.

As the credit markets reap the benefits of all of the stimulus deals, more credit will become available to consumers, especially those looking for auto loans. Until that happens most dealerships are desperate to get buyers into all of the new cars that have gone unsold for the past several months.

Those with good credit will have no problem getting great deals, but people with poor credit will have to look harder to get the best auto loans available to them. The financial wings of the major automakers have cut back auto loans to most people with poor credit. Those with poor credit can still get auto loans from many of the financial institutions out there for sub-prime buyers and credit unions.

Currently all of the rebates are helping those with poor credit get new cars, provided they apply the rebate to their auto loans upon purchasing a new car. In some cases the rebates can total as much as $5000.00, which can be used as a down payment.

Those with good and bad credit should shop around because these deals will only last as long as the credit crunch does, and many are predicting that will let up sometime in mid 2009.