Economy Putting Brakes on Car Sales - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

10-1-2008

Economy Putting Brakes on Car Sales

Local car dealerships say the Wall Street crisis is putting the brakes on some of their sales. It's harder than ever to get behind the wheel a car these days, both in Amarillo and at dealerships all across the country. It's all because credit companies are tightening their limits. Dealerships are seeing lots of folks come in to trade in their vehicles. Most of them trading in expensive cars for more wallet friendly models. That's if they can afford to get a car at all.... Many can't get any sort of car loan and others are forced to drive off the lot in a car that doesn't quite meet their expectations. Brown Pontiac GMC General Manager Charles Cooksey says "we're seeing showroom traffic slow down a little bit, but whats the biggest deal is people aren't able to get the credit they need. They are wanting to buy more car than the lenders will let them. So they are being forced to downsize and purchase a car the lenders think they can afford." 
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