Affordable Credit Boosts May Auto Sales | Edmunds.com
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Affordable Credit Boosts May Auto Sales


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Just the Facts:
  • Car shoppers are flocking into showrooms because of affordable credit, according to Edmunds' May sales forecast.
  • Projected May sales will be an 11.5 percent increase from April 2014 and a 7.3 percent increase from May 2013.
  • Among the best available deals: Zero percent financing for up to 72 months on a 2014 Cadillac ATS or $1,000 cash on a 2014 Ford Mustang Convertible.

SANTA MONICA, California —Car shoppers are flocking into showrooms because of affordable credit, according to Edmunds' May sales forecast.

Projected May sales will be an 11.5 percent increase from April 2014 and a 7.3 percent increase from May 2013.

"Credit conditions are making it easier to buy or lease a new car," said Jessica Caldwell, an Edmunds senior analyst. "Shoppers are opting for longer terms at lower interest rates.
In other words, they're able to afford more expensive cars by keeping their monthly payments at or near what they're used to paying."

Edmunds finds that loans secured with lower credit scores and all-time high lease penetration are sure signs that credit continues to loosen.

Among the best available deals this month: zero percent financing for up to 72 months on a 2014 Cadillac ATS or $1,000 cash on a 2014 Ford Mustang Convertible.

Edmunds says: Lots of good reasons to visit your local car dealer if you're in the market for a new car or truck.

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