“Auto Loan Industry fuels market for auto loan modification,” says Auto Relief Group
According to Experian Automotive, a global leader in providing information and analytical tools, the U.S. automotive lending industry showed signs of stabilization during the third quarter of 2009. Experian throws light on the major lenders. While Toyota Financial Services topped the market share in the third quarter at 11.2%, followed by Chase Auto Finance at 11.1%, GMAC at 9.1% and Ford Motor Credit at 7.1% for new cars; on the other, Wachovia Dealer Services occupied the market at 5.7%, followed by Chase Auto Finance at 4.5%, Toyota Financial Services at 3% and Capital One Auto Finance at 1.8% for the used ones.
However, the cost of borrowing has risen for people with a low credit score of 500 to 589. Considering the still not so healthy economy with high rates of unemployment, foreclosures, late payments etc., the financial institutes do hesitate to approve loans for the risky borrowers.
Interestingly, Auto Relief Group (ARG), nations leading Auto Loan Modification Company, reports increase in their clientele. “Though the dark phase of recession affected everybody badly, a service that actually bloomed is ‘Auto loan modification’ service. Recession brought along many late repayments for auto loan, even repossessions in worst cases but those who didn’t want their vehicles to be repossessed thereby lowering their credit score took the refuge in Auto Relief Group. Apparently, the market for auto loan modification gets the fuel from auto loan industry as their borrowers are the potential customers for loan modification if they lack enough funds to meet the EMIs,” said Jeffrey Taylor, director of Sales of ARG, www.autoreliefgroup.com.
With over 15 years of experience, ARG has been helping Americans find the best way to lower their payments and keep their car, truck, boat or RV. They work directly with the auto lenders to obtain the best loan modification. This modification consists of extending terms or lowering interest rates to find the payment that works best for the individual.
“We’ve been successfully assisting our clients in lowering their monthly car payment by as much as 50%. Our options include loan modification of an existing automobile loan, equity recapture, trade up, sale or even vehicle refinancing for those individuals who are in danger of losing their vehicle to repossession. Since every situation is unique, only after consulting with the ARG professionals can you possibly determine what is best for you on an individual basis.” Jeffery signs off.
About Auto Relief Group:
Auto Relief Group was founded to help customers deal with their auto loan payments in time of need. Over the years each member of their team has developed a stellar reputation, and industry connections, allowing the company to quickly identify opportunities and act to assist the clients in their efforts to reduce their payment and keep their car, SUV or truck.
For more information on Auto Relief Group and its scope of services,
Visit: http://www.autoreliefgroup.com/default.aspx
Contact:
877.216.7203
877-259-3559
877 842-7667
Anthony Giudice is a president and CEO of 5 international companies.
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