Credit crunch hits car loans

Despite recent car finance news reports to the contrary, it appears that the global credit crunch has reached out from the mortgage industry to touch other financial services .

Lenders are apparently becoming less willing to provide other products, including personal loans and credit cards . This global problem may also get worse before it gets better, with the consumer on the receiving end.

Financial services experts predict that problems in the credit markets will affect car loans . The prediction is backed up by prognosis that used car sales will fall in the next six months. Although April used car sales figures were robust, the impact of the credit crunch may not yet have been felt in the car finance sector.

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Credit crunch hits car loans

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