Many banks and lenders have limited providing loans, and their requirements have increased in order to qualify for loans. The credit freeze has affected the automobile industries as the sales of new cars have decreased due to inaccessibility of loans. According to the National Automobile Dealer Association, more than 550 new car dealerships have closed down, and thereby, creating more unemployment, instability and crises in terms of money. As the three major automobile companies in the US declared bankruptcy, unemployment increased and local dealerships closed down. These have also adversely affected the US economy.

Automobile dealers around the world try hard to attract customers with unbelievable offers in order to clear their inventories. Offers like 0 percent interests, paying 50 percent at the time or purchase and 50 percent after two years, and offering attractive rebates are a few ways that dealers are trying to get back into the market.

Some of the factors that have impacted the U.S. economy are:

• Easier financing made it possible for low income group to buy cars and pay in easy installments.
• Over supply of cars to dealers
• Long term after sale support
• Global economic recession lowering the gas price

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