John McEleney, the chairman of the National Automobile Dealers Association, says the reductions will not help cut costs.

VOA: standard.2009.06.04

In addition, down-payment requirements have loosened, and "there are plenty of resources for financing, " said John McEleney, president of McEleney Chevrolet and McEleney Toyota in Clinton, Iowa.

WSJ: Banks Loosen Purse Strings