Archive for Thursday, September 8, 2011

25 years ago: Car buyers keep Lawrence dealerships busy

September 8, 2011


From the Lawrence Daily Journal-World for Sept. 8, 1986:

Car dealerships in the Lawrence area were reporting as much as four times their usual amount of business as people were rushing to take advantage of great deals. An auto financing war had developed between the biggest automakers, and car loans were available for 2.9 percent or less in some cases. The consumer-friendly war was expected to last until 1986 inventories ran out. General Motors had started the ball rolling with 2.9 percent financing on three-year loans, and Ford and Chrysler had soon followed with similar incentives. However, AMC had undercut them all by offering interest-free two-year loans, with the rate climbing to 2.9 percent for three-year loans. "Last month we were lucky if we were to sell an average of one [AMC] Jeep a day, and yesterday we sold eight," said John Jackson, truck manager at Jim Ellena's dealership. "I was here until 10 o'clock last night. My wife didn't like it."


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