Automotive Loan Assistance & Modification

Baltimore, MD (PressExposure) December 21, 2009 -- According to statistics from the Federal Reserve’s website, 30-day delinquencies at year-end 2007 were up approximately 17% from year-end 2006. In a recent analysis of both captive and non-captive auto finance companies, Fitch Ratings is showing even higher increases in 60-day delinquencies over the same period. Nearly 60% of new vehicle loans now have a term greater than 60 months.

Increasingly, lenders are providing 72 and 84-month terms on vehicle loans. Some industry analysts expect the average contract term may reach 70 months by 2010. For a $25,000 loan with a 10% interest rate and 72-month term, repossession after 24 payments will generate a loss $1,800 higher than that of the same contract with a 60- month term. Considering that the current average loss per repossession is approximately $5,500, an increase of $1,800 would equate to a per-unit loss increase of nearly 33%.

With car loan modification being such a new process, we want to make sure that we can do everything we can to get you all the necessary information that you need to make the right decision. We are ready to assist you with any auto loan modification questions you may have before you take the next step to saving up to 50% every month on your car payment! Call us today!!

To have an agent call you immediately, please email auto@bankreadymods.com

Make the call TODAY, to start saving TOMORROW!

For more information: 866-945-2199 ext 710

About Bank Ready Mods

Bank Ready Mods at auto@bankreadymods.com

Press Release Source: http://PressExposure.com/PR/Bank_Ready__Mods.html

Press Release Submitted On: December 21, 2009 at 12:13 pm
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