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Auto sales slumping in Clark County
Monday, July 6, 2009 | 2 a.m.
Figures from TransUnion, one of the nation's largest credit reporting bureaus, show that Nevadans carry the highest average balance on auto loans in the nation. We owe about $15,000 compared to the national average of about $12,600. With our already high debt load and continued worries about a still bad economy, it looks like our love affair with newer, expensive vehicles is over for now. The steep decline in auto dealers' taxable sales, particularly since last fall, tell the story.
Discussion: 10 comments so far…
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people are realizing that whatever can be saved on ANY purchase makes good common sense; do i need a new car when i can save thousands on a used car? do i need leather seats and navigation when cloth and a $2 map will do the trick? its getting hard out there folks and VP joe biden said over the weekend that the economy is worse than they thought.
I cannot comprehend the need for gadgets such as tv's and gps' in vehicles as well as leather seats. I would love to purchase a used vehicle for myself and hand over the keys to my other (paid for) vehicle to my son. Like Biden says: the economy is worse than thought.
Im waiting for the new $4500 cash for clunkers program to start on 7/23/09 so I can trade in my 1994 Ford F150 4x4 for a small nissan versa without a radio. Should only cost me about $7000 including tax after trade rebate and discount. I will save about $2000 a year in gas also. If the governments going to give away money I suggest people take it. I got $7500 when I bought my first house in October. If you keep an eye out for the new programs you can recover some of the tax money they are always taking from us.
Read the fine print on that $7500 you got for the house. Unlike the current $8500 program, yours has to be paid back.
Yeah $500 a year over 15 years wont even feel it now that ive got a tax deduction.
If your buying a new vehicle, make sure it's a Ford. They deserve our support. It makes no sense to support companies stolen from the creditors and given to the UAW. Ford did it the old fashioned way, with their money.
LV2009 -- it's hard to understand your math. How is it saving $$ to spend $7k to save $2k a year, even with "the new $4500 cash for clunkers program"? Especially with up and down gas prices?
it's interesting to hear people quote Joe Biden, as though he is some sort of financial genius or intellectual giant.....
the economy is continuing to get worse precisely because of what our government is doing....
trying to spend ourselves out of recession, like a man standing in a bucket and trying to lift himself up.....
the financial markets have reacted negatively every time our government has announced more programs and controls.
it's not a coincidence.
uhhh...
we have a population loss in las vegas.
so...why WOULDN'T auto sales be decreasing?
Lets not put our ideas if were not really reading the article.This is not a statistic chart made only of NEW vehicles.These numbers are from used and new.What this graph is showing is that residents of Clark county are what is called "upside down" in their vehicles and tieing that in with the idea of consumer sales slowing because of this.
and btw trans union is one of the major credit bureaus.