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Banks lowering lending standards to sell more cars

from Consumer Affairs

New car sales surged in the U.S. in January, increasing 14 percent over last January and totaling 1.15 million units. "Lower gas prices are helping with what has already been a growing market for truck and utility vehicles," said Alec Gutierrez, senior analyst for Kelley Blue Book. The analysts note another factor driving sales — more credit available for auto loans. more

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