A new plan from the federal government may soon make it easier for Americans to get access to loans which can help in the purchase of a used car.<\/p>\n
The program from the Federal Reserve and the Treasury Department, called the Term Asset-Backed Securities Loan Facility (TALF), would inject $200 billion into the financial system which could lead to an additional $1 trillion in loans, including auto loans.<\/p>\n
Industry experts hope that the influx of government funding will unclog the credit market and allow Americans to more easily obtain car loans.<\/p>\n
Federal Reserve chairman Ben Bernanke told Congress this week that TALF, which will begin later this month, will have a positive effect for consumers in the very near future.<\/p>\n
“We should see immediate benefits to students, to credit cards, to small businesses, to consumer loans,” Bernanke told lawmakers.<\/p>\n
Although it has become more difficult for many people to obtain loans due to the current credit crunch, lenders say there are still loans available for people looking to buy a used car.<\/p>\n
Find New York Used Cars<\/a> with New Jersey State Auto<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" A new plan from the federal government may soon make it easier for Americans to get access to loans which can help in the purchase of a used car. The program from the Federal Reserve and the Treasury Department, called the Term Asset-Backed Securities Loan Facility (TALF), would inject $200 billion into the financial system […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[],"yoast_head":"\n