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U.S. Car Market Improving with Record Low Car Loan Rates

U.S. Car Market Improving with Record Low Car Loan Rates

Auto-loan interest rates are touching record lows in the U.S. market, providing a much-needed boost to car sales. Some of the models from Ford Motor Co., Toyota Motor Corp., General Motors Co., Chrysler Group LLC, and Nissan Motor Co. are available at zero-percent financing today.

This could mean a potential saving in finance costs of anywhere between $1,000 and $3,000 a month or more, depending on the market price of the vehicle. Zero-for-60-month programs for certain models and very low interest rates on others are helping drive car sales.

Economic Developments

The very slowly but possibly improving auto market is also providing a snap to the car shipping industry, and shipping volumes may rise slightly. This may be unlikely though since the recession continues and America’s GDP is only growing at around 1.5%, which is horrendous. Furthermore, car transport brokers are receiving an increased number of inquiries from customers checking the cost to transport a car. Well, people have to go where the jobs are and Texas seems to be the likely destination.

Some of the leading vehicle shipping service providers can offer instant car transport quotes from shippers to help customers make the most appropriate choice. In an expanding market, shippers that are able to provide competitive vehicle transport rates have a better chance to gain a sizable market share.

Support from Financial Institutions

Bolstered by a more relaxed monetary policy, banks in the United States are charging customers the lowest rates on new-car loans ever offered in the recorded history of auto loans. This just shows you that America is struggling if banks need to lower rates that much. Moreover, the most immediate impact of such low interest rates has been a nearly 10% increase in the sales of light-vehicles last month.

The easing norms for extending credit to auto customers is also helping people with lower credit scores to obtain relatively more affordable loans. The result is that auto sales to B-tier customers with relatively lower credit scores have gone up by 26% this year.

Choices Galore

Car hauling companies are also aggressively looking at ways to improve operational efficiencies to bring the average cost to ship a car from one state to another. A vehicle transport key factor is the prices in a challenging economy that influences a buyer’s choice of an vehicle transport company. Buyers seek quotes from auto shipping lead providers so that they can make the most competitive choice in terms of which shipper to work with.

Buyers also need to consider the choice of services, such as open or enclosed car transport. This can make a substantial difference to the price. Classic car haulers, for instance, will usually cost almost double the cost of open car transport because a classic vehicle would require covered carrier.

Check Out Autos in Transit!

Autos in Transit can offer you the lowest rates from six to eight companies. All you need to do is fill out your information at their instant rates generator to your left, and you will receive free car shipping quotes from reliable carriers.

The News and Tips section of the website can also help you stay updated with the latest goings-on in the industry. Autos in Transit can get you discounts of up to 45% on your shipping costs for a limited time. Call today at 800-595-2062 to avail the discounts!