Suspend "Cash For Clunkers"?

[N2TRUX]

Trust me when I tell you that qualifying for an auto loan these days isn't easy. I agree that there will be some folks lured in by this shiny object that shouldn't be, but the loan companies have upped their criteria considerably.

I have an open line of credit at a local credit union. I recently called them asking for the rate on a loan. Even though I have a VERY high credit score and a small debt to income ratio, they still asked several questions they have never asked in the past.

While I did get pre approved at 3.9%, I still have to bring copies of my last two tax returns. Again, something I have never had to do before.

Flame the program if you wish, but it is pumping money directly in to my local economy and I am all for it.