Ford Motor Co announced today that new car sales have dropped by nearly 14% and some of the blame is being placed on banks that are making car loans even more difficult to get. Many banks have been spooked by the housing crisis and have tightened their lending restrictions to the point that many […]
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Car Loans Being Hit
Posted on April 2nd, 2008 by justin
Although the main focus right now is on the housing market crisis, car loans are now being hit hard as well. Most experts believe that the car loan industry is due for a major correction, particularly as more homeowners decide that keeping their home is more important than keeping their cars.
“It’s going to be much […]
Car Repossession Business is Booming
Posted on April 2nd, 2008 by justin
At least one business is feeling the effects of the credit crunch in a good way. Car repossessions are on the rise and repo businesses are reaping the rewards. A new study released by the American Bankers Association indicated that repo rates were at their highest levels since 1991.
“It’s another troubling sign in the economy,” […]
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