In the recent past it is obvious that there has been a dip in the automobile sales but, even in this credit crisis of 2008 it is the Banks and the credit unions that have got some relatively good business comparing others.

Bank and the credit unions got their shares of outstanding loans increased comparing the independent finance companies. There is two possibilities for this, one could be the independent finance companies fear that the probability that the money lost through default will be too expensive than a loss of business. The second chance could be the over all drop resulting in frozen credit market and hence banks might be safe for both consumer and the dealer. Also banks & credit unions had (have) better liquidity than other lenders.

Banks increased their portfolio of $236 billion or 2.7% for outstanding automobile loan, at the same time credit unions have increased to $149 billion or 1.2% for the same. Recent record also shows that Chase Finance holds the top slot sending Toyota down followed by Wachovia, sending Honda & GM to lower spot.

Both these lenders (banks\unions and dealers) they give prime importance to the credit history of the customers, and it is very important to take care of it and is always advisable to consult an expert if any one suspects their credit score is low.

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