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Roadside assistance needed: county auto dealers closing, merging during credit crunch.

Publication: San Diego Business Journal
Publication Date: 01-DEC-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
The $200 billion in federal loan guarantees aimed at supporting consumer finance announced Nov. 25 is good news for the automotive industry, said local dealer Dave Grundstrom, chairman and part owner of Marvin K. Brown Auto Center in Mission Valley.

The guarantees help investors who hold securities backed by the debt of student, auto, credit card, and Small Business Administration loans.

Grundstrom, who sells Cadillacs, Hummers, Saabs and Buicks, said there is still ample credit available to customers with high credit scores. Lacking that, however, lenders evaluate customers on their ability to make a down payment.

He...

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