Monthly Archives: March 2012

Gas Prices Increasing Used Car Prices?

There’s been a lot of news on the rise of gas prices lately. With the increase of sales for the auto industry, it’s clear that people are looking for a car that spends more time on the road and less at the pump.

Kelly Blue Book has put out a report stating that rising gas prices might be driving the used car prices up 20 percent this year. While prices only saw a moderate growth of .4 percent in February, the prices saw a fast increase in the final week of the month. Compact cars rose 1.3 percent in that time and hybrids had an 3.6 percent increase.

Alec Gutierrez, senior market analyst of automotive insights for Kelly Blue Book, said of the increase, “Dealers have been aggressively bidding on fuel-efficient vehicles at auction as consumer demand increases in response to rising gas prices. If the past is any indication of things to come, Kelley Blue Book could see values of used fuel-efficient vehicles increase more than 20 percent during the course of the next few months.”

Now is definitely the time to get into the dealership to get the car that you’ve been wanting. There is a wide range of fuel-efficient models, new and used, to choose from. Apply online on Approved Loan Store’s website and see how we can pair you up with a local dealer. Check out our Facebook page and you can read the latest industry trends and see testimonials from our satisfied customers.

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Getting an Auto Loan After Bankruptcy

Turn on the news and it seems that even with talk of recovery, there’s still plenty of businesses and people being forced to declare bankruptcy. It’s something that’s been consistent with the economy in its current state. According to the American Bankruptcy Institute, the total number of bankruptcy filings in the US had an increase in February. The growth was 19 percent versus the filings in January. The total filings in January was 87,981 while February was 104,418.

Samuel J Gerdano is the executive director of the ABI says about the increase, “The stagnant housing sector and high unemployment continue to stress the cash flow of consumers and business. As consumers and businesses work to shed tremendous debt loads, there are times when bankruptcy is the only shelter to provide financial relief.”

Bankruptcy is a terrible thing to encounter. It has a long consequences not just on the finances of an individual, but also leaves a mental scar. As frightening as it can be, however, Approved Loan Store wants to make sure that people know that bankruptcy isn’t the end. We here at ALS look to work with people struggling from bad credit and want to help them drive away in the car they want and need. We can assist you get that car even after a bankruptcy. Go online and sign up to see how we can help you. Make sure to like us on Facebook to stay up to date on all the latest news and offerings we have.

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Auto Advertising Changes For New Trend of Buyers

Car buyers have been struggling along with the auto industry and now are both seeing an upturn in their situation with the economy finally recovering. With more money in their pocket, they are wanting to get back in the seat. The problem the industry is facing, however, is how to advertise to the interested party.

According to a report by the Foresight Research, buyers have begun to turn away from advertising that makes the car out to be “sporty” or “fun to drive.” People are looking to get quality out of their vehicle, they care more about seeing a vehicle as “competitive” and in “discounts.”

The constant rising of gas prices has also given rise to the consumer who wants to make sure that their car has good fuel economy. The report also notes that brand recognition still plays a large role in what people purchase. Due to that, it’s not really surprising that the strong sales in February were in part to the fuel efficient cars such as the Honda Civic and Ford Focus.

Go online to Approved Loan Store and apply to get driving away in the car you want, be it practical for the family or for a sporty fun ride. Be sure to check out and like our Facebook page to see all the latest on news and testimonials from our satisfied customers.

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Bad Credit? Get Approved!

At Approved Loan Store, we like bad credit, and we love making it easy for you to get a new or used car today! We have interest rates as low as 6% and every kind of make and model. Stop wasting time shopping around, and let us find the best deal for you! Click above to apply today!

Survey: Car Ownership Leads to Less Public Assistance, Welfare

A recent survey of low-income Americans showed that car ownership can be the difference between a continued struggle or getting off of public assistance altogether.

The survey was conducted from 2007 to 2010 and included 445 loan recipients who were on public assistance. Of those recipients, a shocking 82 percent got off of welfare, accounting for $18.2 million in savings. Even more shocking, the program cost less than half of what was saved in public assistance money.

For millions of Americans, a car is essential to work. Public transit is not always available, or if it is available, it has been scaled back with bus or train lines closing or running on a limited schedule. When a family goes through a financial crisis and does not have access to a car, getting back to a normal life is an uphill battle. This study shows that if more people with no credit or damaged credit can get into a car, everyone benefits. The car buyers can rebuild their credit and open themselves up to more job opportunities, and less people will need to rely on public assistance.

Approved Loan Store is here to help. Good credit or bad credit, we want to help you get into a new or used vehicle. Fill out our auto loan application here, and like us on Facebook and follow us on Twitter to keep up to date on the latest auto loan news.

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Men or Women: Who are the Better Car Shoppers?

Cars and cars culture have long been considered a man’s world. Whether or not that is a sexist viewpoint is up for debate, but the stereotype of a car nut is a rough-and-tumble man. A recent study, however, is shaking up the notion of gender and car knowledge.

According to the study, more than two-thirds of women paid to get a third-party inspection on an out-of-state lease transfer compared to only 54.5 percent of men. Women buyers were also more likely to ask the right questions about the car including safety performance, the ownership and incident history, and how the car will function under specific conditions. Their male counterparts were much more interested in the aesthetics of the car, its engine performance, the vehicle’s technology, and its driving performance as a whole.

What is really interesting about the study, though, is the implications for future women car shoppers. When the study was broken down based on age, there were significantly more women ages 21 to 30 getting a third-party inspection than men. 42.3 percent of men, less than half, got a third-party inspection while 78.2 percent of women opted to get the inspection. This means that young women are being smarter, being more careful, and overall being more practical than men their own age.

No matter what your age, gender, or credit, Approved Loan Store wants to help you get into a great new or used vehicle. Fill out our car loan application here, and like us on Facebook to see testimonials by real Approved Loan Store customers. Also, make sure to follow us on Twitter to get the latest news and updates from Approved Loan Store.

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Volvo’s Pedestrian Airbags Stun Geneva Motor Show

Car safety technology has advanced dramatically in recent years with every kind of protection put into place for the driver. In a bold new move, however, Volvo is looking beyond just the safety of the driver and passengers and creating new safety features for pedestrians.

The Volvo V40’s pedestrian airbag was unveiled this week at the Geneva Motor Show. A video of the airbag in action has gone viral, and people already want to know when pedestrian airbags will be coming to the United States. In the video demonstration, the Volvo V40 collides with a crash dummy which falls onto the hood of the car. When the airbags deploy, the hood tilts back and slows the crash dummy’s speed towards the windshield, and the U-shaped airbag cushions the crash dummy and prevents them from flying through the windshield without completely blocking the driver’s view.

Sadly, it seems that Europeans will be getting Volvo’s pedestrian airbags long before we do, though I’m sure that American-made automakers are already working on their own versions. Still, the Volvo V40 demonstration is a fun look into the future of cars, and hopefully it will inspire more inventors to dream and come up with the next big thing in car technology.

Looking for a new or used car? Approved Loan Store can help! Fill out our car loan application here, and like us on Facebook and follow us on Twitter to keep up to date on the latest auto news.

NHTSA Deciding on Rear-View Cameras by the End of Year

Rear-view cameras, a relatively new safety feature, might become standard in vehicles before the end of the year pending a decision by the National Highway Traffic Safety Administration (NHTSA).

These cameras were first introduced in luxury vehicles, but they have started popping up in mid-level cars more often in the past year. The NHTSA is considering making them mandatory in order to decrease vehicle backover accidents and deaths. According to the NHTSA, backover accidents on average cause 183 fatalities and up to 7,419 injuries every year.

The NHTSA were expected to make a decision last month, but they delayed a decision until the end of the year in order to fully explore the issue. In an official statement, they reiterated their commitment to safety and said that they would be surveying thousands of drivers who currently have rear-view cameras to discover the benefits and any potential problems with the technology.

Critics of the rear-view cameras say that the cameras are expensive and problematic. Reflection on the video screens at certain times of the day can impair the driver’s ability to see, and responsible drivers will still want to use the rear-view mirrors in addition to the camera. Still, I am holding out to see what the NHTSA discovers in the next year. Rear-view cameras cannot stop someone from being a bad driver, but maybe it can help stop a capable driver from making a deadly mistake.

No matter what you are looking for in safety features, Approved Loan Store can help you get into a dealership and get a car payment plan that is right for you. Fill out our car application here, and like us on Facebook and follow us on Twitter to stay up to date on the latest auto news!

Auto Loan Delinquency Drop Means Good News for Customers and Auto Industry

February was a great month for the American auto industry. Sales were up and surpassed most analysts’ expectations, and in another bit of good news, more people are making their car payments on time.

Near the end of last year, auto loan delinquencies dropped to 0.46 percent. During the same time in 2010, delinquencies were .59 percent. This might seem like a tiny percentage, but it is actually fairly unusual to see such a low delinquency rate near the end of the year. Transunion’s automotive vice president Peter Turek explained, “Normally there is a seasonal upswing in auto delinquency rates…auto delinquency rates have shown upward movements between third and fourth quarters averaging in excess of 5 percent. Ending the year flat is particularly interesting because the number of new auto loans coming onto the books has consistently increased since the end of the recession, a primary driver of which has been an expansion in lending to consumers in the subprime market.”

What does this all mean? Well, more people are getting car loans. More car loans at that point in the year should mean more delinquencies, but one of the reasons why so many people are getting auto loans is to rebuild their credit. People are still in recovery mode, particularly with their credit health, and auto loans are a good option for re-establishing credit. If they don’t make their payments on time, then their credit won’t get any better. All around, this is a win-win for the auto industry and customers. For the auto industry, sales are up and delinquencies are down, and for customers, their credit will continue improving.

Good credit, bad credit, or no credit, Approved Loan Store wants to help you get an auto loan. Fill out our auto loan application here, and like us on Facebook to keep up with the latest auto loan trends. You can also see video testimonials from real Approved Loan Store customers on YouTube.

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Ford SYNC’s New Texting Feature: Safety Feature or Another Driver Distraction?

As concerns about texting while driving are on the rise, Ford SYNC is heading off concerns with a new upgrade which will keep driver’s eyes on the road and off their phones.

The Ford SYNC previously let drivers make calls, play music from iPods and other music devices, and access directions through voice-activated technology. There are also emergency features built in. SYNC will call 9-11 if the car is in an accident. Now, Ford has added more voice-activated controls for tablets, including texting. If prompted, the SYNC will even read back text messages to the driver.

The issue of “distracted driving” as it has been coined in the media is a contentious one. Even with these upgrades, the MyFord Touch technology and correspondingly the Ford SYNC have been under fire from consumer groups and the press for being difficult to use and prone to glitches. Critics of the Ford SYNC would argue that these upgrades and new features could be just as distracting as calling or texting while driving, if not more so. The driver is still dividing their attentions between driving and their call or text. Hands-free or not, these features are still a distraction.

Readers, we want to hear from you! Do you currently have any hands-free phone devices in your car, and do you think the Ford SYNC is a step forward or just another driving distraction? Leave a comment below, and head over to our Facebook page to vote in this week’s fan poll. If you’re looking to get into a new car, head over to our Approved Car Loan page today!

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