Global debt bubble? You don't say.
I went to my credit union 2 weeks ago to get a loan to buy a vehicle. I told them I wanted to borrow "about $30k". They approved me for a $50k used car loan on the spot and they NEVER ran my credit. I am 100% serious. Other than the mortgage, I haven't had a loan since 2008, so it's not like I have any meaningful payment history with them.
When money is that easy to borrow there are bound to be problems.
Can I ask what rate they quoted you?
and which credit union is handing out loans like candy? daddy needs a new ride...