Financing Expanding for Auto Lending

Auto lending is at “the highest level since the first quarter of 2009” according to a WSJ article I recently read. Apparently, per the article, when people’s budgets get tight, they’ll forego paying their mortgages before they forego making their car payments because it’s relatively easy for the banks or other financial institution to re-possess a car. (It’s obviously significantly more difficult to foreclose on a home, even if you live in a non-judicial foreclosure state like Georgia.)

So if you are in the market for some company cars, now is a good time to go for it. Or, if you wish to offer employees an additional benefit, consider helping them to finance a new or used car. Or, if you have a tiny business and just need a few thousand in funds, assuming your vehicle is paid off, you can re-finance your car and pull funds out.

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About Tiffany C. Wright - The Resourceful CEO

Tiffany C. Wright is the author of “The Funding Is Out There! Access the Cash You Need to Impact Your Business” and “Solving the Capital Equation: Financing Solutions for Small Businesses.” She is the founder of The Resourceful CEO, which helps owners of small/medium-sized businesses prepare their businesses for sale. Tiffany has an MBA from the Wharton School of Business, sits on non-profit boards and serves as a business mentor with the Cherie Blair Foundation.
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