Car Dealerships Continue to Feel Pinch in Tight Economy
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Updated: 7:58 PM Nov 19, 2008
Car Dealerships Continue to Feel Pinch in Tight Economy
Car dealerships are continuing to feel the pinch in an economy not doing so well for the struggling auto industry.
Posted: 7:58 PM Nov 19, 2008
Reporter: Daniel Kemp
Email Address: daniel.kemp@wbko.com
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Car dealerships are continuing to feel the pinch in an economy not doing so well for the struggling auto industry.

It can be hard for many to get their cars moving off the lot, as prospective buyers worry they may not be able to afford, or finance one.

One dealership says it's been hit by the tough times, but not as hard as some.

As they watch the economy struggle and big name automakers plead for relief, they understand everyone's concern.

Kevin Cosby is in the market for a new car.

"Today I'm out looking for a cheaper vehicle on gas," Cosby said.

Cosby drives an SUV, and with the economy the way it is--that's just not cutting it.

"From where I live to where I work at, I need the best gas mileage I can get," Cosby said.

Lynda Broderick knows what Cosby's going through.

She sees it daily.

"People are looking for that good economical vehicle," said Broderick, general manager for Jim Johnson Motors.

"They are coming in the showrooms, but they're concerned if they're going to get the money they need," Broderick said.

But she assures banks are lending and the money is there.

"They have tightened up some, so you don't get quite the advances as you could at one time, but money is still available," Broderick said.

Jim Johnson employees are keeping a close eye on Congress, but say if you want to buy a car, now's as good a time as any.

"The manufacturers are offering rebates and a lot of special rates--you can get zero-percent financing right now," Broderick said.

And for Kevin Cosby, those might just be the added incentives he needs for some new wheels in a shifting economy.

"Gas is cheap right now, but it's going to go back up and I want to be ready when it does," Cosby said.

Lynda Broderick adds she thinks Jim Johnson will continue to fair pretty well since most of it's sales aren't based on trucks and SUVs, but she knows sales will continue to be down.

As for Kevin Cosby, a salesperson at the dealership says, he bought that new car.


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