University GM in Durham closing its doors today

[Exit MA Now]

Originally Posted by Sayantsi

About 1000 dealerships have closed so far this year. Financing is becoming impossible to secure to buy new cars for both the dealerships and buyers.

Not the case. If you have good credit, you will be fine. The local banks are more than happy to finance you and Ford is doing a lot of interest free financing. The doom & gloom media is making the lack of financing look much worse than it is. People are afraid to buy right now or THINK they can't get loans.

[Sayantsi]

Originally Posted by Exit MA Now

Not the case. If you have good credit, you will be fine. The local banks are more than happy to finance you and Ford is doing a lot of interest free financing. The doom & gloom media is making the lack of financing look much worse than it is. People are afraid to buy right now or THINK they can't get loans.

From what I've read, actual dealerships can't secure financing and are closing. Its not that credit is tight or only for those with good records, its just not there at all in some cases.

[saturnfan]

Yes, the floor plan financing for unsold cars on dealer lots is getting tight.