With the average age of cars on the road cresting over 11 years, there are many Massachusetts drivers in need of new, reliable transportation. The problem is that many drivers cannot get financed for new car loans due to low credit scores and history of bankruptcy, short sale, and low credit scores.
Many of the drivers with bad credit are struggling because of the subprime lending crisis and housing bubble that burst a few years ago; others are struggling for other reasons. No matter what the cause, there are many drivers searching for bad credit car loans in Massachusetts.
There have been many bad credit car loan programs that have been pushed recently, some effective, some ineffective, and some that the AG’s office is investigating. Many Brockton Ford customers have found support at local Massachusetts Dealerships that have bad credit car loan programs.
One of the more popular programs of 2014 & 2015 has been the You Can Drive A Chevy program. This innovative program was the work of the Massachusetts Chevy Dealers, NE Chevy Dealers, and GM Financial. By partnering together, this lending network had much success.
What does 2015 hold for bad credit car loans in Massachusetts? Well, early indications show that some local Chevy Dealers in MA are having success with their bad credit programs and other banks such as Santander are having success with their Uber Driver programs.
It looks like 2015 is going to be a great lending year with restrictions lightened to boost the economy. Lower interest rates are predicted to boost home sales and affordability, and hopefully, the economy as a whole will prosper. The lower oil prices right now are having a positive impact on many US industries, and for consumers as a whole, it looks like bad credit car loans in Massachusetts will be available in 2015.