The best time for a cash rich consumer

Apr 5 2010

Tight money markets and job losses have hit people hard restricting their ability to make purchases as they used to. Many people have found the repaying capacity also hit severely and have suffered setbacks to their credit score. Lenders are no longer willing to take a chance with those not having adequate credit ratings and are also insisting on a down payment to even those with good credit scores.
Auto companies in particular have been very badly hit due to the slump in demand and are doling out attractive discounts to customers who have the cash and are willing to spend it at this point in time. The consumer with ready cash and a good credit score has never had it so good. Lenders are on the lookout for such customers in these difficult times and are doing everything they can to give them the best deals in interest rates and favourable leasing programs. Some of the more stringent money lenders are patting themselves on the back and attribute their stringent but intelligent lending policies that seem to have protected them from delinquent customers.
They are going to continue their tight policies and may relax them only for those with excellent credit scores.

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