Supply and demand is the name of the game, and these days there's hardly any demand for new cars. Hyundai is responding to this economic reality by getting creative in a way that could appeal to potential car buyers who are concerned about losing their jobs.
The company is offering a walkaway program that allows buyers to return their cars if they endure a life-changing event within one year of purchase.
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TeamSugar member RosaDilia just financed a new ride and put 20 percent down to secure her loan, and her comment about it not being easy (despite having a good credit score) coincided with a New York Times piece about the issue.
Since July, the average down payment has gone up by about $1,000 for non-luxury vehicles, from $4,946 in the first seven months of the year to $5,915 by the end of September. With credit scarce, many car buyers are foregoing a down payment altogether and simply paying cash for their vehicles.
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ZipCar is the name most often affiliated with car sharing, but Enterprise is moving in to create some friendly competition. The company is expanding its WeCar car sharing service to capitalize on what The Wall Street Journal says is a growing industry. Enterprise is moving slowly with its venture, and will at first only supply cars in business-to-business arrangements with companies that will make the cars available to employees.
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One recurring, slightly-heated discussion in my home revolves around cars. Am I a car person? Definitely not.
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As drivers continue to unload their leased SUVs back to dealerships, it's apparent that driving a gas guzzler is no longer acceptable to many Americans. The intentions may not be environmentally driven, but if extreme gas prices are what it takes to cut down on gas consumption it can be seen as a positive side effect to what is otherwise a painful pump reality.
General Motors is so desperate to rid their jam-packed lots that are cluttered with SUVs, they are offering interest-free loans for six years to buyers of large models like SUVs and pickups.
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