Vehicle Loan Forecast

Are you wondering where to sell junk cars in Ohio towns such as Valleyview, Whitehall, and Montgomery? We are the people that buy junk cars in the regions of Brice, Flint, and Westerville 6 days a week. To determine the value of your old car simply contact us for a quote for an old car in the areas of Huber Ridge, Truro, and Madison. When you contemplate your options sometimes the best solution is to scrap a car for cash and move onward. Are you in the process of determining whether to sell your scrap car in the Gahanna, Franklin, or Grandview Heights areas?

Apparently the US government is playing “watchdog” on the auto lending industry lately. In the July 11, 2016 edition of the WSJ, Andrew Ackerman posted a story titled ‘U.S. Regulator Flags Auto-Lending Risks’ with the following details: “A U.S. banking representative warned about growing credit risk in the automobile-lending sector, raising the possibility of fresh regulatory pressure in the area. The Office of the Comptroller, which oversees large national banks which includes many of the biggest banking firms in the U.S., highlighted the risks in its bi-annual report.

The OCC said auto-lending risk is heightening “because of notable & unprecedented growth across all types of lenders. As banks have fought for market share, some banks have gone with less stringent underwriting standards, the report said. The report indicated the role of indirect auto lending, in which banks offer cash to auto dealerships, who in turn lend to consumers. The report said indirect lending reflects “an area of significant fair lending risk” amid fast growth. Comptroller of the Currency, Mr. Thomas Curry had raised the red flag once before about auto lending, making an analogy between it and the mortgage crisis.

Automotive lending has spiked in recent years with historically lower interest rates, inexpensive gas and stronger consumer demand. Auto loans even performed pretty well during the financial crisis, which market observers have viewed as a sign that the loans are safe because even low income households must pay for transportation. Auto lenders also have an easier time obtaining collateral on a past due auto loan—by repossessing the vehicle—than they do foreclosing on a house covered by a failing mortgage.” The complete article is available at this link.

Where to junk cars in Ohio

Among the people that buy junk cars, we extend you fast and courteous scrap car removal in Grove City, Jefferson, and Hilliard. The quote for an old car is a cash price that we will pay you when we tow away the vehicle in Obetz, Jackson, or New Albany. How do I scrap a car for cash in Galloway, Hamilton, or Pickerington? Simply locate the title and give our scrap car buyer a call for a price on the unwanted vehicle; regardless of if located in Reynoldsburg, Mifflin, or Washington. To efficiently sell your scrap car in Upper Arlington, Lake Darby, or Worthington with same-day pick up, contact us at (614) 715-5005.

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