HOUSTON — The financial fears felt by Americans are also having an impact on Houston businesses, especially the automobile industry. In fact, the weak economy is driving some dealers out of business.

“There’s probably never been a better time in terms of rebates and incentives across all manufacturers,” Chris Speightz of Star Toyota said.

Car dealers want and desperately need the business. A ripple effect in the economy’s credit crisis is now a tidal wave hitting auto manufacturers and dealers.

“Gas prices and the credit crunch in general have been the two biggest factors,” Speightz said.

A new study says 1 in 5 car dealerships could soon go out of business.

But it’s not all bad news for those who want to purchase a new vehicle.

“If you got a salary, a good salary, then you don’t have any problems,” Will Williams, who was out shopping for a car, said.

Just in September, sales were down nationally 32.2 percent for Toyota, 33.8 percent for Ford and almost 52 percent for Volvo.

The good news is, the slumping car sales could mean a good deal for car buyers with average credit. That’s because, with so many vehicles on the lot, more car companies are willing to slash prices .

Buyers are also likely to get a better loan, in many cases even 0 percent APR.

And while Chris Speightz says his dealership is not going anywhere, it’s common talk in the industry that many dealerships won’t last the year.

“There’s just simply too many dealers,” said Speightz.

In other words, it’s a buyer's market.