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Old 10-09-2008, 10:59 AM
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Scarface Scarface is offline
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Join Date: May 2003
Location: sacramento, ca
Posts: 1,631
Wait until at least dec. before jumping on one. 80% were approved for car loans in 2006, 65% in 2007, we are currently at 22-25% approval rate. You may have good credit, but banks/dealers don't and they are waiting on the bailout to maybe get the auto industry going again. I am eyeing a couple of M5s in my area, they were listed at $95K MSRP brand new, now with 13,000-15,000 miles on them, they are listed between $46K-$52K and they are hurting with the dealers dropping at least $500 every month (just like the housing market). I have the 15% down and excellent credit but just waiting on the banks to get their acts together.
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