Reporters' BLOG

November 2008
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Credit Union or Car Lot

7:57 PM Thu, Nov 13, 2008 |

It seems like we will never run out of stories about the bad economy. Today I visited a credit union in Shiloh where the president also plays the role of a used car salesman. The Catholic and Community Credit Union is trying to sell seven repossesed cars off their lot. At the same time, the credit union is financing a record number of car loans. We continue to hear about the problems dealers are having, but plenty of people are still buying - and as we found out some are buying directly from the credit union. I own a car with 114 thousand miles, I'm not in market for a new one, but I was tempted after seeing the potential deals in Shiloh. Some of the SUV's were listed for under ten grand, or best offer. In a bad economy money is tight, but if you have the cash, it seems like the time to buy is right now.




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