Financing a car is tougher now

Buying a car isn’t as easy as it used to be, at least if you need financing.

Down payments are up. Loan terms are longer, and banks aren’t rolling over old debt into a loan for a new car. All of it’s being scrutinized more closely by loan officers.

“Deals that used to fly out of here don’t anymore,” said Kevin Funk, finance manager at Stadium GM Superstore in Salem.

And if you are looking for a cut-rate lease, don’t bother.

“The days of the $189-a-month Chevy Trailblazer or Jeep Liberty are gone,” said Chuck Eddy of Bob and Chuck Eddy Chrysler Dodge Jeep in Austintown.

Automakers and banks either have abandoned leases or made terms unfavorable, dealers said.

The changes have come recently in the wake of the nation’s credit crisis.

For more information, see Friday’s Vindicator or www.vindy.com.