Buyers who want to help boost the American economy should probably continue to buy domestic products. Don't be too scared to use the American credit companies connected to the auto brand, either. New reports indicate that
Ford Motor Credit Company is stronger than ever, so go ahead and spend some time looking at the new
Ford Taurus. Buyers still might worry about using Ford Motor Credit after the 2008 credit fiasco, but since then, the credit company has regained their financial strength, almost to the point prior to the 2008 credit incident. Almost all auto brands offer their own in-house financing; I'm sure if you were to go to a
Volkswagen Dealer, they would be able to give you some great incentives. The same thing goes for any of the
Seattle Honda Dealers; right now, dealers are trying to clear out the 2010 inventory, so you should be able to get some great financing. And shoppers have found that using the in-house credit services makes the entire buying process go smoother.
Towards the end of 2008, Ford Credit was a strong source of financing, and they made up 46% of all deals financed on a purchase from
Ford, Lincoln, or Mercury. One year later, they only accounted for 29% of the total retail sales in the United States. But for the first half of 2010, 32% of sales from Ford,
Lincoln, or Mercury have been financed through Ford Motor Credit Company. In addition to that, Ford Credit has been able to finance 81% of the dealer inventory purchases, which is an increase from only 78% last year.
In case you have forgotten how dismal things were back in late 2008, here is a brief recap. For September 2008, Ford auto sales were down by 33.8%, which was a lot more than the anticipated 22% drop. General Motors sales went down by 15.6%, and they actually fared better then their anticipated 26% decline. Overall, Americans only purchased 964,873 vehicles for the month of September in 2008, and that was the first time in 15 years that monthly sales in the United States dropped below one million.
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