AutoLoans.com Introduces Bad Credit Loan Report

May 11, 2011 - PRLog -- AutoLoans.com, one of the largest sites for free e-quotes on auto financing, will feature the latest credit risk report from TransUnion on its landing page. The report indicated that for five consecutive quarters now, American consumers are managing personal debt better than ever. Auto Loans will display a portion of the article on its home page in order to encourage consumers with less-than-perfect credit to request quotes.

“AutoLoans.com is probably one of the most inclusive sites on the Web in terms of accommodating borrowers from all types of credit backgrounds. In today’s lending climate, you no longer need perfect or even very good credit to get an auto loan with a reasonable rate. This latest TransUnion credit risk report is further proof of that. We want to give potential borrowers with credit challenges hope that there are car loans out there for them, and our site can help them find them,” explained Mick Ronson, spokesman for Auto Loans.

On the home page, Auto Loans will briefly summarize the methodology and results of the credit bureau’s survey. Every quarter, TransUnion surveys 27 million credit reports anonymously and computes the resulting data with a baseline set in the fourth quarter of 1998. The ensuing computation is known as the credit risk index, which is essentially the probability of a 90-day-or-more delinquency on the credit report of the average American consumer.

“At Auto Loans, we want to make the message loud and clear that things are getting better economically, and that means the lending climate is as well. Consumers with credit challenges are no longer precluded from obtaining car loans with decent rates, as the TransUnion report corroborates,” said Mr. Ronson.

For more information, please visit: http://www.autoloans.com.