When the economy hits hard times, people react with caution. Consumers tend to pull away from extra expenses and curb their spending.

Some necessities can’t be avoided — one of which is transportation.

Despite a national decline in sales, auto dealers are still selling cars.

However, automakers say they are dealing with another financial roadblock. Many claim that banks have tightened their credit requirements and are denying more loan applications, according to a recent report from the Associated Press.

The explanation is attributed to the slumping housing market. Dealerships claim that banks are being more restrictive with their lending because of the amount of mortgage loans in default.

Brian Cornely, finance manager for Pacific Coast Ford in Federal Way, isn’t worried though. Having worked in the industry for 20 years, Cornely has seen his share of economical ups and downs and knows how the market works.

“Whatever the homes are doing, the cars are doing the same thing,” Cornely said.

He says all the same rules apply when it comes to financing. Lenders are looking at your credit score. Pacific Coast Ford has 30 to 40 lenders to work with, and Cornely says he hasn’t seen an increase of denied loans.

“When the market is down, everyone tightens up, but people can still buy cars,” Cornely said.