Released: November 03, 2008

Car deals a plenty, but bring good credit

Source: Mickey Fleece, New York Times (Free Registration)

CAR dealerships have been lonely places this fall, with many customers driven away by the economic tsunami of 2008. Sales have plummeted, and no one knows when these customers will be back.

“Because of all the uncertainty, consumers are understandably reluctant about plunging into a big-ticket purchase right now,” said Greg McBride, senior financial analyst at Bankrate.com.

At Valencia Acura in Valencia, Calif., Cheri Fleming, the owner, has witnessed something she has never seen before because of that fear. Customers come in, negotiate a price and even get so far as to allow the dealer to help procure a loan, and then “a lot of times, they just get up and leave.”

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