Bronx car dealers hit by credit crunch

Over the past few weeks, local car and truck dealerships have been reporting a steep decline in sales because would-be customers are struggling to obtain financing amid the financial meltdown. Jose Vasquez,

News 12 Staff

Oct 6, 2008, 1:42 PM

Updated 5,767 days ago

Share:

Over the past few weeks, local car and truck dealerships have been reporting a steep decline in sales because would-be customers are struggling to obtain financing amid the financial meltdown.
Jose Vasquez, manager of Hunts Point Auto Sales, says the business has taken a downturn since banks are more reluctant to offer money these days.
"The credits are not good, the scores are not high enough for these people," he says.
Jonas Saris, of Elias Auto Shop, says his sales also have taken a hit due to the credit crunch.
"At the end of the day, we depend upon lenders to have the funding available for the customers," Saris says.
Saris puts the blame on Wall Street bankers for the current financial crisis on Main Street.
"I think they made mistakes themselves," he says. "And now they're putting the hardship on communities."
Dealers and drivers are hoping the $700 billion bailout package that was approved by the Senate and House of Representatives this past week will improve the situation in the near future.


More from News 12
0:46
President Biden announces end of 2024 bid for presidency; endorses VP Kamala Harris for pick

President Biden announces end of 2024 bid for presidency; endorses VP Kamala Harris for pick

0:35
Warm Monday with threat for spotty showers through Thursday

Warm Monday with threat for spotty showers through Thursday

Gov. Hochul endorses VP Kamala Harris for president after Biden ends reelection bid

Gov. Hochul endorses VP Kamala Harris for president after Biden ends reelection bid

2:08
National and local lawmakers stunned by Biden's decision not to seek reelection

National and local lawmakers stunned by Biden's decision not to seek reelection

2:01
Biden dropped out. What's next?

Biden dropped out. What's next?

2:03
How the new Democratic nominee will be selected ahead at the national convention

How the new Democratic nominee will be selected ahead at the national convention

3:11
Who is Kamala Harris? A closer look at the woman who could be on the presidential ticket

Who is Kamala Harris? A closer look at the woman who could be on the presidential ticket

Officials release statements following President Biden's decision to end reelection bid

Officials release statements following President Biden's decision to end reelection bid

1:37
President Biden's decision draws mixed reaction from Long Islanders

President Biden's decision draws mixed reaction from Long Islanders

3:40
Former Nassau County Executive Laura Curran weighs in on Biden announcement

Former Nassau County Executive Laura Curran weighs in on Biden announcement

2:00
Political analyst on Biden ending presidential bid: We are truly going to see a historic event

Political analyst on Biden ending presidential bid: We are truly going to see a historic event

3:01
Political analyst Mike Dawidziak on Biden’s decision to bow out of race

Political analyst Mike Dawidziak on Biden’s decision to bow out of race

2:02
Hofstra University Professor Meena Bose weighs in on President Biden's decision to bow out of presidency bid

Hofstra University Professor Meena Bose weighs in on President Biden's decision to bow out of presidency bid

0:19
Police: 7-year-old boy drowns in Bay Shore pool

Police: 7-year-old boy drowns in Bay Shore pool

0:50
Local veteran hits 11,000 miles running with American flag

Local veteran hits 11,000 miles running with American flag

0:37
Long Island Ice Cream Tours celebrate National Ice Cream Day

Long Island Ice Cream Tours celebrate National Ice Cream Day

0:34
Over 1,600 U.S. flights canceled Saturday due to global technology outage

Over 1,600 U.S. flights canceled Saturday due to global technology outage

0:22
Police: 1 man killed, another seriously injured in Aquebogue crash

Police: 1 man killed, another seriously injured in Aquebogue crash

1:30
Officials: Calls to 988 have increased since its creation 2 years ago

Officials: Calls to 988 have increased since its creation 2 years ago

0:59
Officials: Power interruption at NUMC had no impact on patient care

Officials: Power interruption at NUMC had no impact on patient care