Financial Times FT.com

Car sales splutter as credit tightens

By Bernard Simon in Toronto

Published: October 10 2008 18:02 | Last updated: October 10 2008 18:45

Obtaining a car loan from Naples Dodge-Chrysler, a Florida dealership, has become more difficult and more expensive since the spring.

Six months ago, says Jon Myers, the dealership’s owner, he had no trouble arranging financing for buyers with scores of 630 to 650 on the Fico scale, widely used to assess Americans’ creditworthiness.

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