02-11-2009, 08:30 AM
My daughter just bought a low mileage, 1 year old Saturn Outlook. She found out from the dealer that the credit is available, it is just that lenders are being more careful about how much they will finance on a car. It used to be that people could go into the dealer with a car that was worth thousands less than what they owed and the dealer would finance the new car with enough cash left over to pay off the old car as well. Now they won't finance more than the car is worth. The dealers are motivated, and the big three are pressuring their dealers to buy more inventory even when they can't move what they have! In effect the manufacturers got bail out money from the government, but now they are pressuring dealers to order more cars to bail them out even further.