The American Financial Services Association is asking Congress to allow auto finance companies and other institutions to feed at the $700 billion-dollar bailout fund trough meant for the troubled mortgage industry. The trade lobby, based in Washington, DC, is also proposing that automobile loans be classified as “troubled assets” along with home mortgages.

The car-loans question is separate from the $25 billion in government loans the auto industry wants to help retool plants to build fuel-efficient vehicles. Congress is considering up to $7.5 billion in funding to begin financing those loans.

Other troubled debt includes student loans, home equity loans, and credit cards.

“We want auto finance companies to be able to raise the money they need to finance more auto purchases,” AFSA spokeswoman Lynne Strang told Automotive News.

The Wall Street Journal reported today that some automotive finance companies are lobbying to be included specifically in the proposed bailout, which would be the biggest government intervention in private markets since the Great Depression.

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