DriveHomeToday.co Continues to Offer Bad Credit Car Loan Help as the Rate of Overdue Auto Loans Continues to Drop

SCHAUMBURG, Ill., Aug. 27, 2012 /PRNewswire-iReach/ -- Over the past few years, getting approved for a car loan in Schaumburg, IL has been a daunting and difficult task. The rate that is considered an acceptable credit scores has gone up and banks have become more stringent with their lending. Through all of that, DriveHomeToday.co has been providing solutions with bad credit car financing in Schaumburg, IL. In the toughest of economic times, DriveHomeToday.co has been there for car shoppers, proving options and opportunities to rebuild credit with a new vehicle. Now, there is more great news for consumers looking for cars in Schaumburg, IL.

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A recent report announced that the rate of overdue car loans in the U.S. has fallen last quarter (second quarter of 2012) and it is at its lowest rate in more than a decade. This is great news for lenders and consumers alike. It helps show lenders that car loan borrowers are now less likely to be delinquent on their payments which may in return help consumers to get loan approval in the future. It seems car owners are prioritizing their car loan debt higher and paying it off over other debts and expenses like credit cards. A car is an important investment and a necessity today because without a car it is near impossible to hold a job and steady income.

The rate looks at U.S. car loans which have payments at least 60 days past due. That rate for the second quarter of 2012 was down to 0.33% which is down 8% from the first quarter and down 25% from the second quarter of 2011.

Schaumburg car financing applications are available online at DriveHomeToday.co. For more information, the site also offers a blog. At this car financing blog auto shoppers can find answers to commonly asked credit score questions or credit score FAQs, term definitions, as well as car credit trends and news.

Media Contact: Kristen Iverson , DriveHomeToday.co, 1-888-821-8148, emarketing@dealerfire.com

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SOURCE DriveHomeToday.co

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