The Big Three are bleeding money like never before here on the home front, and with the mortgage meltdown still looming over the country it isn't getting any easier to buy a brand new car. Chrysler has closed its leasing program, as has GMAC in Canada; Ford meanwhile has raised the prices on its car and truck leases due to massive losses. For many people in need of a new vehicle, it seems like their only option is to buy.
But like a lot of people, you might find yourself struggling with bad credit and deep debt. So while there might be a lot of great deals out there like 0% financing, you'd need near perfect credit to even be able to apply. Many dealerships are requiring large down payments and proof of sustainable income. Endangered careers like construction workers and real estate agents might find it harder to qualify in our weakening economy through a dealership loan program.
Themustangnews.com offers a number of tips on acquiring more bang for your automotive buck when you go to buy a car, such as getting pre-approved at a bank or credit union specializing in low or bad credit scores. This allows you to go in with your head held high and negotiate like a cash customer, knowing full well how much money you have to play with. You might not be walking out with a GT500, but you don't have to go home in a Focus either. Photo from
autos.canada.com..
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