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U.S. auto lenders ease credit standards, terms to drive borrowing

(Reuters) -- Lenders in the United States gave car buyers some of the easiest credit terms since the financial crisis in the first quarter as they competed to make more loans to borrowers they see as safe, a credit research company said.

The lenders also provided more money to people with subprime credit scores, cut interest rates and granted more time to repay, Experian Automotive, a unit of Experian Plc, said in a report today.

Rates of late payments and repossessions by lenders also declined in the quarter, Experian said.

The relaxed terms make it easier for individuals to buy cars…

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