myAutoloan.com® Forecasts Continued Moderate Growth in 2011 as Direct-To ... DigitalJournal.com (press release)
Irving, TX (PRWEB) August 10, 2011
myAutoloan.com, an online direct-to-customer auto finance company, has seen moderate growth in the first half of 2011 and is forecasting continued moderate growth through the remainder of the year. Although a strong increase in application volume was seen, approval rates throughout the credit spectrum increased slightly with the majority of the gains in the upper middle market through prime category. Below prime approvals showed minor increases.
Auto finance applications for the purchase of new and used autos as well as auto refinance loans continue to grow. Many consumers who held on to their vehicles in 2009 and 2010, through the roughest part of the recession, are now beginning to reenter the market. "Dealership financing options continue to push the consumer to seek out and identify alternative financing. Getting an auto loan or an auto refinance loan has been a bit easier in the past 6 months. Consumers continue to expand their search options by using the Internet at an ever increasing rate. They are finding alternative lending solutions online," said Greg Thibodeau, CEO at myAutoloan.com.
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