New Study Says Auto Loans Increasing

TechnoMetrica Market Intelligence has issued a new study that says besides the hype that has been saying that people are not taking out new car loans due to interest rates, that is actually not true. They have found that there is actually quite a bit of car loan business out there, they just have to make their customers happy.

According to the study, auto loans are still increasing, and handling the influx of interest rates has not changed that at all. The study claims that auto loans are still running at around 9 billion car loans a year. They also found that the majority of consumers who bought a car within the last two years used an auto loan to finance it.

The study reports that 60% of all purchases were made with auto loans, but that their clients are the ones not feeling happy. Auto loan consumers say that they are not informed enough about the process, and want to see more of it – they want the loan process “open and transparent.”

The study says that consumers feel generally informed about car loans, but that they want more information so that they are sure that they are getting the best deal possible. They suggest that if automakers and the car loan industry put their heads together, they could come up with ways of making the 31% that feel “well informed” by the car loan process increase.

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