Competitive Market Helps Buyers Find Loans

- March 12, 2011

As car buy­ers head back into deal­er­ships after a two-year drought, they’re being greet­ed by rock-bot­tom inter­est rates on auto loans, eye-pop­ping lease deals and a renewed will­ing­ness to lend to peo­ple with spot­ty cred­it. Banks are on firmer finan­cial foot­ing, helped by gov­ern­ment aid and renewed demand for auto loans that are pack­aged and sold as secu­ri­ties, a mar­ket that rais­es mon­ey and allows banks to write more loans. Buy­ers, too, are gain­ing con­fi­dence.