One of the leading auto lenders, Chase, has recently reported that auto loan new business has risen 5% since last quarter. However, looking at their auto loan originations on a year to year basis, business is now significantly since 2009.
Q3 2010: $6.1 Billion
Q2 2010: $5.8 Billion
Q3 2009: $6.9 Billion
Average auto loans revenue, in total, was $47.7 billion – a 10% increase. These loans, of course, are not granted via buy here pay here car lots, which finance customers “in-house.”