One of the significant reasons why a broad based recovery has been observed in auto finance market faster than in others is due to the nature of the asset. Simply put, people need cars to function in their daily lives. American society has become impossibly reliant on its cars for such basics as shopping and getting to work. Therefore, unlike the housing market, where renting is an option, or the credit card market, where simply defaulting is an option, individuals need their cars to survive.

The role that cars play in our daily lives mean that even people with damaged credit are likely to extend themselves to make their car payments and make sure that they do not default. In many cases, a default means not only the loss of the car, but the loss of the job that the car facilitates. The pure necessity that cars represent has helped them to rebound faster and stronger than many areas in the credit market.

That’s where opportunities for non-traditional niche financing are found these days. These previously stable, recently-rejected buyers need transportation tomorrow as much, if not more, than they do today.

Folks who have alternative sources of income need auto financing as well. Small, family-run businesses, commission-based sales professionals, sub-contractors and moonlighters whose paychecks vary due to demand have a hard time proving their income. That means there’s no way they’ll find a traditional auto loan based on a weekly pay stub. This secondary high-risk group is made up of solid, reliable, tax-paying citizens. Their willingness to make their payments is beyond question. Plus, without a vehicle, a person is limited to public transportation, car pooling or their immediate surroundings for a job. Their choices for groceries and supplies become limited. The time and money they would save by owning a vehicle would practically make their payments for them. Rather than high risk, these people are high need.

While there are many luxury cars, cars are no longer a luxury item. People must have a car to get by in our spread-out society. Commuting is common. Traffic patterns show people don’t live where they work. It’s been said that while a person can’t drive their home to their job, they can live in their car.

New Age Financial is actively inviting motivated investors in our low-risk project.