In all my years in the car business, do not recall a time that so many people have been trying to trade in one particular type of vehicle. It took $4 gas to do it, but Americans are finally starting to change their driving habits and down grade from their Sport-Utility Vehicles and Trucks to Cars that get much better gas mileage.
Maybe it is a combination of things. the housing market downturn could not have helped, slower job growth definitely hurt, but when many Americans commute over a half an hour to work each day (and some spend a couple of hours each day in their car) something like $4/gallon gasoline really affects peoples discretionary spending habits.
If you are in the market for a new or used vehicle, make sure you check the fuel economy ratings for the vehicles you are considering. Over the course of a year, even a couple of miles per gallon difference can really make a huge difference. Do not be one of those people that fails to do their research, and ends up having the bank repossess the car because you cannot afford to make the car loan payment and put gas in the car.
Tags: banks, car, cars, fuel, gas, loan, loans, news, repossession, repossessions, vehicles
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Tags: banks, car, cars, fuel, gas, loan, loans, news, repossession, repossessions, vehicles
