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CRI's hearing Jody ? Bowman is a 38-year-old housewife and her 2003 Chevy minivans have paragraph unusable, but due to the acquisition of the wagon and owed $ 8900 has not repaid the loan. In addition, her credit card also overdrawn by $ 5000 in cash on hand or to purchase. Given these circumstances, Bauman did not dare to imagine to get car loans, but two weeks ago, she successfully obtained a loan of us $ 15500 and bought a travelling 2005 paragraph Toyota Sienna minivan.

As Bowman such buyers now easier access to credit, this United States vehicle sales performance this year, the United States to restore credit car sales growth was highest in 26 years. Car loan guarantee securities market has two consecutive years of expansion, the loan company has more money to more customers with loans, and last year their loan applications may be rejected. Texas car loan company AmeriCredit CEO Dan ? Burs (Dan Berce) said: "last summer it is very difficult to get funds, we provide almost is avoid loans. Earlier this year, we check out Texas, California and the United States in the Northeast car loan repayment conditions, we were very satisfied with the results, so we decided to lower the credit rating of the lender. ”

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According to data provided by pengboshe, 4 month across the United States issued a total of 229 million car loan securities, compared with 67% 137 billion growth. AmeriCredit Corporation specializes in subprime loans business, the company on 31 March sold 2 million car loan securities, this is since November 2008 AmeriCredit first does not depend on the fed regularly asset backed securities lending tools (TALF) plans to sell a car loan guarantee Corporation, the company on May 13, also sold 6 million such securities.

Scoring system

The loan companies use digital grading system to apply for the lender ratings, score many variables when considered from the fee El Chol (Fair Isaac) company's FICO scoring system, such as credit and loan repayment of overdue. AmeriCredit will apply for the lender ratings compared with other customers, to determine the likelihood of repayment of the loan applicant. Burs that a year ago the company car loan approval rate for only 20% are now up to 35%. The first quarter of this year, the company provides 3.48 million new car and used car loans, far more than the same period last year by 1.24 000 sum. At the same time, according to data provided by pengboshe, April the entire US car sales grew by 17%. Automotive information data company AutoData says, if this trend continued until the end of the year, the increase in automobile sales this year will be the largest since 1984.

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TALF program support

Last March, the Fed has launched regular tools for asset-backed securities loan (TALF) plans to promote auto, credit card and education loan market recovery. Under the programme, the United States Government to the high ratings of securities purchaser loans, thereby indirectly stimulate consumption credit. Divided by the new release of the commercial real estate mortgage-backed securities (CMBS) to guarantee continuity of the TALF loans to the end of June, the plan had been to the end of the month of March. New York Investment Bank KBW analyst Samuel ? Gerhard Le (Sameer Gokhale) pointed out that the secured car loans are sought after because securities even in a recession, a car loan default rate remains relatively low. He said: "for a car loan financing market for a dramatic recovery, particularly subprime loan market. "Last year car loan guarantee securities were sold 660 million, representing an increase of 30% in 2008. This class of securities of selling the car dealer can provide more car buyers to provide financing. Market research company CNW CEO-? la than NIE (Art Spinella) pointed out that the automobile manufacturer's financial service company provides car loans in total loan volume of 34%, the Bank provided loans also accounted for 34% and credit cooperatives (credit union) and financial company offers 14% respectively. In accordance with the loan contract, Bowman and her husband of welding work would pay $ 345 per month, even

Added 60 months. Bowman said: "I know in theory we also does loan possibilities is large, but we are always on-time repayment of the loan. ”（yoyo）