. >> reporter: gary flom, head of the manhattan automobile company, says he's seeing an across-the-board credit thaw. at his dealership, loan approvals are back to where they were before the financial crisis. >> just to give you an indication-- back in 2009, less than 70% of all applications that we sent in were approved. and in 2011, over 80% of the applications we sent in are approved by the financial institutions. >> reporter: it helps that auto loan rates have plunged nationwide. the average rate for a new car is 5.2%; 6.2% for used cars. but it's important to keep perspective. although auto loan rates are at record lows, not everyone can qualify. and that keeps the dream of driving a new car out of reach for many americans. >> the rules of the road are that you have to have good credit, you have to have proof of income, and you have to bring something to the closing table other than your smiling face. specifically, you are going to need money for a down payment. >> reporter: but there are other factors that could help rev up auto sales. employment has been improving. and there's ple