COLUMBUS, Ohio — Huntington Bank, one of the highest volume auto lenders in Ohio, is apparently spreading the word that new-vehicle sales declines from last year are boosting trade-in values, which can ultimately lead to better financing terms for consumers

Nick Stanutz, senior executive vice president, auto finance and dealer services group executive for Huntington Bank, shared an example of what could happen with a $2,000 difference in trade-in value.

Stanutz assumed a vehicle that likely would have brought $10,000 in value last year probably would fetch $12,000 now because of tight used-vehicle volumes. Pushing that $12,000 trade-in value into a contract for a $25,000 model at an interest rate of 5 percent, Stanutz determined the monthly payment would be $246.

With a $10,000 trade value, plus the same conditions, he projected the payment to be $283.

"In 2009, sales of new automobiles topped 10.4 million vehicles, the worst year for auto sales in 30 years," Stanutz pointed out. "This compares with sales of almost 17 million new vehicles each year during the previous decade.

"With fewer consumers trading in cars and trucks in 2009, the number of used vehicles available for resale has dropped," he went on to note. "Today, most people can get more money for their trade-ins, which means they won't have to borrow as much on a new car or truck, and they can lessen their monthly payments.

"In short, more people have a better equity position than ever before," he added.

Stanutz wrapped up his commentary by pointing out that sales of new vehicles in the United States are expected to see a slight uptick this year, thanks in part to pent-up demand from consumers and a brightening economic picture.