Thursday, August 23, 2007

To buy, or not to buy?

As problems with the housing markets persist and credit standards tighten, automobile showrooms are starting to feel the crunch.

Tom Markides, owner of Prestige Imports in Randallstown, said in a story in Thursday’s Daily Record that his dealership, which sells higher-end used cars such as Lexus and Mercedes, has always had a good mix of customers with both good and bad credit. But with banks tightening their standards, it has become more difficult to get customers financed. Borderline customers are finding it extremely difficult to get car loans, and it’s even getting tough for customers with perfect credit or significant down payments to get financed, he said.

So, tell us, are you going to put off buying a new car or are you going to try and cash in on dealers’ desperation to move inventory?

Let us know.

-LOUIS LLOVIO, Daily Record Business Writer

1 comment:

Charlie McGovern said...

You'd have to be insane to finance a car. If you can't afford it, don't buy it! I guess the same applies for homes.