Credit Issues at Dealerships
1/12/09, 08:54 AM
#1
Shelby GT500 Member
Thread Starter
Credit Issues at Dealerships
I was standing in line buying hot wings yesterday (for the football game) and I was speaking with a guy that works at a Caddy dealership. He told me they sold 1 car the entire month of December.
He went on to say that he personally knew someone trying to buy a $58,000 Caddy that had $10,000 to put down and a 720 credit rating and couldn't get approved. Now while I believe that if you're buying a 60K vehicle, you should have more than 10k to put down, this is apparently REALLY affecting them. The few people coming through the doors often cannot get financing.
This really needs to get fixed if sales are expected to return to even LIVABLE conditions, nevermind good conditions.
He went on to say that he personally knew someone trying to buy a $58,000 Caddy that had $10,000 to put down and a 720 credit rating and couldn't get approved. Now while I believe that if you're buying a 60K vehicle, you should have more than 10k to put down, this is apparently REALLY affecting them. The few people coming through the doors often cannot get financing.
This really needs to get fixed if sales are expected to return to even LIVABLE conditions, nevermind good conditions.
1/12/09, 01:40 PM
#2
Mach 1 Member
Join Date: February 23, 2008
Location: new castle, pa
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I was standing in line buying hot wings yesterday (for the football game) and I was speaking with a guy that works at a Caddy dealership. He told me they sold 1 car the entire month of December.
He went on to say that he personally knew someone trying to buy a $58,000 Caddy that had $10,000 to put down and a 720 credit rating and couldn't get approved. Now while I believe that if you're buying a 60K vehicle, you should have more than 10k to put down, this is apparently REALLY affecting them. The few people coming through the doors often cannot get financing.
This really needs to get fixed if sales are expected to return to even LIVABLE conditions, nevermind good conditions.
He went on to say that he personally knew someone trying to buy a $58,000 Caddy that had $10,000 to put down and a 720 credit rating and couldn't get approved. Now while I believe that if you're buying a 60K vehicle, you should have more than 10k to put down, this is apparently REALLY affecting them. The few people coming through the doors often cannot get financing.
This really needs to get fixed if sales are expected to return to even LIVABLE conditions, nevermind good conditions.
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