Rick Dorschel at Dorschel Automotive Group says there is money out there for credit-worthy buyers. Besides banks and credit unions, car makers have their own financing arms and unlike mortgages on homes where houses have been falling in value in some areas of the country, the value of cars is much more predictable.

Dorschel said, “There's a huge difference between buying an automobile and buying a house. Our cars have a published and very acceptable value. And to sell a car is nothing more than take it to auction or have a transaction here on the lot. So we don't have a liquidity issue like home mortgages do.”

A spokesman for M&T Bank locally says there are still a lot of banks out there lending money for auto loans including M&T.

Source: http://www.whec.com/