Tight Car Financing Seen in 2009
December 30, 2008 by Tsikot · Leave a Comment
The global financial meltdown is expected to affect significantly the sales of entry-level vehicles, bulk of which are financed by bank loans.
“The impact of the crisis is on the entry-level vehicles because banks are already starting to implement more stringent rules in car financing,” Froilan Dytianquin, assistant vice president for marketing of Mitsubishi Motors Philippines Corp., told reporters.
Entry-level cars are those with price tags of P600,000 or less apiece. Read more
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