People who are in the market for a new or used car may want to take time to find out if any dealers in their area have been slated to close by General Motors or Chrysler.
Earlier this year, GM announced that it was willing to reinstate 661 auto dealers that had been cut from its roster last year as the company struggled on the brink of bankruptcy. Chrysler also made its own similar announcement in regard to hundreds of its own dealers.
This week, a CNNMoney.com report noted that many of the dealers that received reinstatement offers from GM were unsure if they were able to comply with the terms that would be guarantee staying in business. The news website added that more than 400 Chrysler dealers had also applied for arbitration in an effort to stay in business.
While many of the dealers closed in recent months will not be coming back, those that do make the cut may be inclined to offer considerable incentives to lure customers.
With that in mind, those who plan to shop for automotive bargains in the coming months may want to get started by getting a copy of their credit report and ensuring that they are fully caught up with all of their monthly payments and outstanding debts.
Mon, Mar 29, 2010
Debt Management, Debt Reduction Advice, Getting Out of Debts