Portland, Oregon (PRWEB) November 27, 2013
Every winter, the streets of Portland come alive with automobiles of all shapes and sizes. As the winter weather takes bicycles and public transit off the road, cars remain as the most reliable and consistent transportation in the Pacific Northwest. Until 2011, the vast majority of Portland residents relied on their banks or credit unions for auto loans, accepting high interest rates in exchange for the convenience of using a community lender.
In 2012, Complete Auto Loans entered the Pacific Northwest market as a premier internet auto lender. Starting in Seattle, Complete Auto Loans quickly grew to challenge some of the largest banks and credit unions for lending supremacy. In 2013, Complete Auto Loans expanded to encompass Portland as well, just in time for the year-end closeout deals in many Portland area car dealerships.
Portland residents are notorious for their support of locally owned and operated businesses, and their reluctance to shop online has been documented. Complete Auto Loans tries to find a compromise between traditional lending and impersonal online loan exchanges, offering personal services and a lending staff that is based entirely in the Washington/Oregon area. By offering the perfect mixture of individual service and rock-bottom interest rates, Complete Auto Loans aims to secure the business of some of Portland’s bohemian trend setters, eventually bringing its low interest rates and convenient same-day lending to the greater Portland population.
Portland has one of the highest ratios of car owners of any city in the United States, but yet Portland residents pay a higher interest rate than the national average. One reason for this disparity, the lack of lending competition, is gradually being eroded by the entrance of online auto lenders into the Portland market. Lenders like Complete Auto Loans have already pushed interest rates down by almost a whole percentage point, and this trend is expected to continue.