Before Wall Street collapsed, he could finance his inventory — it's called "flooring" in the auto business — on a much more liberal, friendly basis. He could borrow the money to buy a car on a 90-day note and if the car wasn't sold in 90 days, he could find another lender and floor it again at a slightly higher rate. Buying more time was usually not a problem.

Now, with banks scrambling to stay afloat, rollovers and extensions are a thing of the past. Interest rates are up and credit lines are down.

The 90-day clock ticks relentlessly.

Just a few weeks ago, Jared recalls without any joy, he had a 90-day note to repay and the cars that justified that note — Audis and BMWs now known as "depreciating assets holding down asphalt" — still sitting on the lot.

The lender holding the note threatened to repossess his entire inventory.

"I took cars to auction, I offered them at the lowest price on the Internet, anything I had to do to pay that note," says Jared. "I almost had a nervous breakdown."

He says he lost $170,000 overnight.

Specialties Auto is still in operation, knock on German fiberglass, but Jared laments the number of friends and colleagues in the auto business he has seen disappear. At his weekly visits to the auto auction, he finds himself bidding against half as many dealers as in the past.

"Cars are not going out the door," he says. "And yet, I don't see credit for consumers being a problem. I almost always get someone financed when they come in to buy a car. It's the credit crunch on the dealers that's the problem."

He's surprised that more consumers aren't taking advantage of what he calls "insane prices."

"I'm a chronic optimist. I think things are going to turn around," he says, and then, while looking around his spacious but sparsely populated new showroom, adds in his best auto dealer's voice, "Frankly speaking, when you can buy cars this cheap, I think it's a no-brainer."

Better the public gets them than the bank.

Lee Benson's column runs Monday, Wednesday, Friday and Sunday. Please send e-mail to benson@desnews.com.