According to a recent story published by The Wall Street Journal, financial lenders are leery to provide loans to potential car and truck buyers; a move that could send the automotive industry into a major financial slump.

Although those in the market for a vehicle with a high credit rating will still be able to get financing, the current credit and financial crisis has all but ended the possibility for those in the subprime market to acquire auto loans, which experts believe could create a nearly 20% drop in auto sales in the US.

A great way to beat this current trend is to make modest choices when diving into the market for a new car. Stay away from high-concept, flashy and expensive vehicles, focusing your attention on  compact cars with good gas mileage and affordable prices. Though they may not make you the king of the road, you have a better chance to get financed for one. Not to mention that cheaper cars mean cheaper monthly payments, putting even more cash in your wallet.

If you stay away from shady used car salesman and take full advantage of the drop in gas prices (it's almost $2.50 a gallon!), you may just find yourself with a new car and a couple of bucks to spare.

With the government taking over lending giants Fannie Mae and Freddy Mac, many assume that mortgage rates will lower and the credit crunch will ease. Are homeowners celebrating prematurely?

According to an article on CNNMoney.com, Treasury official Henry Paulson believes that the much-needed financial relief will take longer than expected. Paulson states, “The primary mission of [Fannie Mae and Freddie Mac] now will be to proactively work to increase the availability of mortgage finance. Our economy and our markets will not recover until the bulk of this housing correction is behind us.”

Yet, Paulson encourages homeowners to remain hopeful. Because the government has taken over these lenders, mortgage rates are poised to drop. Additionally, the lower rates will potentially increase borrower applications, which are down 27% from August 2007.