If you thought Cadillac cars were from a dinosaur age specialized for old people, prepare to be enlightened with the new Cadillac CTS.  With this new extravagant showpiece Sedan, a positive word can be said about GM’s Cadillac. The Cadillac CTS has a jaw dropping European inspired interior design and a chiseled wide exterior design that will make heads turn. And the CTS has recently been named Motor Trend’s Car of the Year!

Every New 2010 Cadillac CTS comes equipped standard with an eight speaker Bose audio system, dual zone climate control, and 17-inch wheels. It also has all-wheel drive and profuse backseat space. This one of a kind Sedan is fast too.  The CTS has quickness under the hood and is taut and responsive. It has a 304-HP VVT V-6 Engine with direction-injection.  Automatic transmission is sleek and offers manual override.

This Cadillac is outfitted with many options and optional features to choose from, including: iPod integration, a 40GB hard drive for the entertainment system, swiveling headlights, a sunroof and a remote start system. The Sport package also includes steering- wheel mounted shifters.   Overall, GM’s new Cadillac CTS continues to amaze with its first-rate refinement, powerful engines, striking interior and exterior, and sharp handling.

Unfortunately they panicked and overreacted. The result? Only the most well qualified buyers with stellar credit could get a loan. There were many people who could afford to pay car payments, but they couldn’t get financing at decent rates, so they didn’t buy a car. As buyers disappeared, car dealerships started offering spectacular incentives, including low and even zero interest rate loans. But those are only available to those same well qualified buyers.

The next problem in the downward spiral was about the stability of auto manufacturers who weren’t selling cars. What happens to your warranty if General Motors goes under?

On Monday, President Obama announced that the federal government would stand behind car warranties. That removes that hurdle.

Today GMAC announced that they will extend credit to car buyers with credit scores below 620. If you are one of the many people who could almost buy a car, now is your chance. GMAC has committed to making $5 billion available over the next 60 days.

Maybe this is the beginning of a recovery for the auto industry, or maybe we have a ways to go. Either way, if you’re planning to buy a car or truck any time soon, this is probably the right moment. You can even contact the Financing Department of your local GM Dealer by phone or email to see if you can get a loan on that car you’ve been thinking of.

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