Car dealers are closing, though note that this article probably understates the problem. But when it says that credit is drying up, that misstates the situation. I just called two banks and two auto dealers, all of which have money available for car loans. The borrower just has to have a good credit rating (as should have always been the case; and no seven year loans either). It is the financing of vast fleets of new cars on the lot that is drying up, and rightly so. In the future, we may return to the days of yore, when dealers … Continue reading Auto Depression