Bad Economy and Car Dealers
City Mazda
The U.S. economy is bad for everyone right now, including new car dealers. Car dealerships are experiencing lower sales and some are going out of business completely. Bill Heard Enterprises have closed all of their locations. The bailout plan should help but it will still take a long time for the auto industry and everyone else to recover.
How does this affect the new car consumer? This can be used as an advantage for those with good credit who can afford to buy a new car. The cost of buying a new car from a dealer is going to be lower. With fewer people buying, many car dealers will be lowering their prices and offering more incentives in order to get much needed sales.
For those with bad credit, getting car loan approvals will be harder and the requirements will be stricter. It’s important to find out what your credit rating is. Check with a loan provider to see what the new requirements are before going to the dealer. Make sure you can afford it, calculate all of the costs involved. The cost of buying the new vehicle from the dealer, insurance costs, inflated gas prices, regular maintenance, etc.
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[...] This can be used as an advantage for those with good credit who can afford to buy a new car. The cost of buying a new car from a dealer is going to be lowerBad Economy and Car Dealers [...]