Monthly Archives: November 2012

Auto Loan: Drivers Still Wary of Driverless Cars, For Now

Trends in automotive technology are clearly moving towards driverless cars or at least cars that need minimal driver input, but surveys show that for consumers are still wary of driverless cars, or at least they are for now.

A recent survey of drivers in the United Kingdom found that 40 percent of respondents would never use a driverless car and 10 percent believed that driverless cars were “irresponsible.” 50 percent thought that a driverless car would not sell very well, and the overall opinion of the respondents was that resources should be put towards better driver’s education.

Even though most of the responses to the driverless cars ranged from skeptical to doomsday rise-of-the-machines conspiracy theories, there was plenty of positive feedback too. When the respondents were told that driverless technology would only cost about $3,000, 20 percent said they would probably or definitely buy it. 1 in 5 respondents could be early adapters to driverless cars. That might not sound like a lot, but consider that this is technology that could completely change automotive culture. At this point, 1 in 5 is great news for companies developing this technology.

Readers, what do you think? If driverless technology was available and affordable, would you get it for your next car? Leave us a comment below and let us know what you think!

Are you looking to get into a new or used car? Approved Loan Store wants to help you! Good credit, bad credit, no credit, we work hard to get our customers the car they want at terms they can afford! Fill out our secure online auto loan application here, and get the latest auto news and buying tips by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

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Auto Loan Amounts Hit Post-Recession Peaks

According to a new report from Equifax, consumers looking to get an auto loan could be getting a lot more than they expected.

Back in August, Equifax recorded that auto loan originations year-to-date through August 2012 came out to more than $283 billion. The last time it was that high over an eight-month period was back in 2006 at $297.5 billion or the equivalent of 14.6 million new and used vehicles. Loan amounts have also gone up with loans averaging $19,492 back in August, once again having comparable numbers to average loan amounts in 2006.

Equifax’s Chief Economist Amy Crews-Cutts claims that auto loans recovered quicker than other types of loans because the public’s demand has not waned. It makes sense because while people can put off certain purchases like a house, a car is a necessity in most parts of the country. Americans will still go for an auto loan because they need to get to around, to drive to work or pick up their kids from school. When consumers couldn’t get the loan amount they wanted, they made do with what they got. Now that loan amounts are at pre-recession levels, consumers can afford to get a car that they both need and want.

Have you been waiting for the right time to get into that new or used car? The time is now! Whether if you have good credit, bad credit, or no credit, Approved Loan Store wants to help you get into the car you want at terms you can afford. Fill out our secure online auto loan application here, and be sure to like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

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Used Car Financing: ALG Announces Residual Value Award Winners

Earlier this week, ALG announced the winners of its 14th Annual Residual Value Awards which honors vehicles that are projected to retain the highest percentage of MSRP after a three-year period. Top honors for Mainstream and Premium brands went to Honda and Acura, but the big winner of the year was Toyota with six awards.

Toyota took home six segment awards for the Toyota Prius c, Toyota FJ Cruiser, Toyota Sequoia, Toyota Tacoma, Toyota Tundra, and Toyota Land Cruiser. Interestingly enough, though, Toyota only ranked sixth on the Mainstream Brand rankings after Mazda, Subaru, Scion, Hyundai, and Honda.

Here is a complete breakdown of the awards results and the top 10 brand rankings for Mainstream and Premium Brands.

Segment Awards

Sub Compact Car – Honda Fit
Compact Car – Hyunda Elantra
Midsize Car – Honda Accord
Fullsize Car – Hyundai Azera
Sports Car – Scion FR-S
Alt-Fuel Vehicle – Toyota Prius c
Minivan – Honda Odyssey
Sub Compact Utility Vehicle – MINI Cooper Countryman
Compact Utility Vehicle – Toyota FJ Cruiser
Midsize Utility Vehicle – Hyundai Santa Fe Sport
Fullsize Utility Vehicle – Toyota Sequoia
Midsize Pickup – Toyota Tacoma
Fullsize Pickup – Toyota Tundra
Premium Compact Car – MINI Cooper
Premium Midsize Car – Mercedes-Benz C-Class
Premium Fullsize Car – Lexus GS 350
Premium Executive – Lexus LS 460
Premium Sports Car – Porsche 911 Carrera
Premium Alt-Fuel Vehicle – Mercedes-Benz ML350 BlueTEC
Premium Compact Utility Vehicle – Acura RDX
Premium Midsize Utility Vehicle – Audi Q7
Premium Fullsize Utility Vehicle – Toyota Land Cruiser

Top 10 Mainstream Brands

Honda
Hyundai
Scion
Subaru
Mazda
Toyota
Nissan
Kia
Volkswagen
Mitsubishi

Top 10 Premium Brands

Acura
Infiniti
Audi
Lexus
Mercedes-Benz
BMW
Cadillac
Porsche
Volvo
Lincoln

Readers, we want to hear from you! Are you surprised by the awards and ranking results? Which cars would you have picked for the segment awards? Leave a comment below, and tell us what you think!

Are you looking to get into a reliable new or used car? Approved Loan Store can help! Good credit, bad credit, no credit, we will work with you to get you a car you want at terms you can afford! Fill out our secure online auto loan application here, and get more car news and buying tips by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Car Loan: 2013 Dodge Charger Daytona Debuts at LA Auto Show

Later this week, the LA Auto Show will be kicking off with celebrity appearances, special events, and vehicle debuts. Another popular vehicle has been added to the line-up of show debuts, and fans of the “winged warrior” will be excited to see the 2013 Dodge Charger Daytona at the show.

In a press release from Dodge, Reid Bigland, the President and CEO of the Dodge Brand, called the 2013 Dodge Charger a “modern day muscle car” and praised the car’s powerful core and its “one-of-a-kind interior.”

The 2013 Dodge Charger Daytona will be a limited-production run with only 2,500 units available, and it will go on sale in the beginning of 2013. The Charger will be available in Charger R/T starting from $32,990 and Charger R/T Road & Track starting from $36,495. Most importantly, the Dodge Charger Daytona comes with that signature Charger power with a 370 horsepower HEMI V-8.

Looking through the promo pictures that Dodge released this week, it looks like Dodge has beautifully combined the classic muscle car with a comfortable and modern-looking interior. Interior shots also show off the 8.4-inch Uconnect Touch screen which comes with Bing search, GPS, and hands-free calls and texting.

You can see more interior shots below:

Readers, what do you think? Are you excited to check out the new Dodge Charger Daytona, or has one of the other LA Auto Show debuts caught your eye? Leave a comment below, and let us know what you think!

Are you looking to get into a new or used car? Approved Loan Store can help! Good credit, bad credit, no credit, we will help you get a car you want at terms you can afford! Fill out our secure online auto loan application here, and get more auto news and buying tips by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

New Car Financing: Ford Focus Earns NHTSA Five-Star Rating

2012 has been a great year for the Ford Focus. Back in September, the Focus was projected to outsell the perennial favorite, the Toyota Corolla, and become the world’s best-selling car of 2012. This week, the Focus got more good news when it earned a five-star Overall Vehicle Score from the National Highway Traffic Safety Administration.

The NHTSA’s Overall Vehicle Score is a combination of the vehicle’s score on its front and side impact crash tests and a rollover resistance test. Broken down, the Focus scored four stars on the rollover resistance and front crash test and scored five stars for the side crash test, earning it the overall five-star score.

The Ford Focus’ high score can be attributed to the new safety technology utilized in the vehicle. Some of these features include the Safety Canopy curtain airbags which protect passengers during a rollover and driver airbags that better protect the chest and ribs in an accident. Also, the SYNC system includes hands-free calls and texting, and the new AdvanceTrac system helps reduce vehicle skidding and automatically makes adjustments to keep the vehicle on track.

While the Ford Focus has already been selling well in 2012, this distinction might give the Ford Focus that boost it needs to outsell the Corolla in the last few months of the year. We will have to wait and see how the numbers ultimately break down at the end of 2012, and we will keep you posted when we know which car will win out as the world’s best-selling car.

Looking to get into a new or used car today? Approved Loan Store can help! Good credit, bad credit, no credit, we will work hard to get you the car you want at terms you can afford! Fill out our secure online auto loan application here, and get the latest car news and buying tips by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Bad Credit Auto Loan: Top 10 Most Reliable Cars

Recently, Warranty Direct celebrated 15 years of ranking vehicle reliability, and to mark the occasion, they released their top 10 list of the most reliable cars of the past 15 years.

Their website Reliability Index breaks down the raw data of a car’s average repair costs, mileage, age, and chance that parts of the car will have maintenance issues like the transmission or braking system. Taking all these factors into account, they calculate an overall reliability index number that tells consumers at a glance if the car is reliable or not. The lower the number, the more reliable the vehicle will be for the driver.

Here is the top ten most reliable vehicles according to the Reliability Index along with their index rating.

1.  Mitsubishi Lancer – 6
2.  Vauxhall Agila – 8
3.  Suzuki Alto – 9
4.  Toyota Aygo – 10
5.  TIE: Honda HR-V and Volvo S40 – 16
6.  Mazda MX-5 – 19
7.  TIE: Mercedes E Class and Toyota Yaris – 20
8.  Honda Jazz – 21

Readers, we want to hear from you! What do you think of the list? Were there any vehicles on the list that surprised you? Leave a comment below, and tell us what you think!

Are you looking for a reliable new or used vehicle? Approved Loan Store can help, no matter what your credit situation! Fill out our secure online auto loan application here, and get more auto news and buying tips by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

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Car Loan: Women Drivers Now Outnumber Men, Upsetting Status Quo

These days, women are dominating in higher education, making great strides in the work force, and now, for the first time in the history of the U.S., outnumbering male drivers on the road.

The statistic comes from a University of Michigan study which showed that in 2010, there were 105.7 million women with driver’s licenses compared to 104.3 million men with driver’s licenses. Only 15 years prior, men had outnumbered women 89.2 million to 87.4 million.

While women drivers are by no means dominating the road yet with only a 1.4 million lead, it is surprising to see women drivers edging ahead. There have always been more driver’s licenses issued to men than women, and unfortunately advertisers have wrongfully assumed for years that women don’t really care about cars. I wonder if this trend continues how advertisers will change their approach or if they will. Like many other industries, the car industry will have to ask themselves if they know how to appeal to women and if they are willing to lose out on millions of potential customers in maintaining the status quo.

Readers we want to hear from you! What do you think of this trend favoring female drivers? Are you surprised that male drivers have outnumbered female drivers until now? Leave a comment below, and tell us what you think!

Are you looking to get into a new or used car? Approved Loan Store can help! Good credit, bad credit, no credit, we want to get you in a car you want at rates you can afford! Fill out our secure online auto loan application here, and get more news and buying tips from the Approved Loan Store by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Image courtesy of David Castillo Dominici / FreeDigitalPhotos.net

New Car Financing: Ferrari F12 Berlinetta Auction Raises $1.125 million

In a follow up to a story last week, Ferrari auctioned off the very first Ferrari F12 Berlinetta sold in the United States at the Formula 1 U.S. Grand Prix last weekend.

The auction, which was hosted at the U.S. Grand Prix in Austin, Texas, raised money for the American Red Cross, specifically Hurricane Sandy relief efforts. Larry Roth of Long Island, New York was the winning bidder and paid $1.125 million for the F12. Once the F12 Berlinetta officially goes on sale, it will start at the low $300,000s. Ferrari also raised an additional $345,000 in donations for the American Red Cross thanks to the generosity of dealerships and Ferrari enthusiasts.

As great as that is, I would love to see individual donors like our readers boost those donations. This storm hit close to home for us. We have dealerships throughout the New York and New Jersey area, and it hurts us to see our friends and neighbors still struggling, particularly as the weather gets colder. In our original story, we provided a link to Ferrari’s page on the American Red Cross website, and we’re linking it again here. Please donate to the American Red Cross if you can, even if it isn’t much. Every bit helps.

Looking for more auto news? Check out Approved Loan Store on Facebook, Twitter, and YouTube! Looking for a new or used car but running into credit problems? Approved Loan Store can help! Fill out our secure online auto loan application here, and read our customer testimonials here!

New Car Financing: Toyota’s New Teaser Trailer for 2013 RAV4

The L.A. Auto Show is almost here, and auto makers are teasing us with all sorts of previews before the show’s official debuts. The latest to jump on the bandwagon is Toyota with their teaser trailer for the 2013 RAV4.

The RAV4 will premiere at a press conference on Wednesday, November 28 as part of the Los Angeles Auto Show. Toyota calls the new RAV4 “a new generation” of car, “embodying sophistication and strength.” Whether it lives up to that praise is yet to be seen, but here is the flashy teaser trailer for the RAV4.

While I am intrigued by the unveiling of the RAV4, the teaser trailer showed very little of the car. The ad had a lot of tight shots and quick cuts, and when it was over, I was disappointed at how little the ad showed off. I get that they don’t want to show off too much before the show, but I was hoping for more than what Toyota gave me.

Readers, what do you think? Do you like the teaser for the 2013 Toyota RAV4, or did it leave you wanting more? Leave a comment below, and let us know what you think!

Are you ready to get into a new or used car? Approved Loan Store can help! Good credit, bad credit, no credit, we can get you in a car you want at rates you can afford! Fill out our secure online auto loan application here.

Looking for more auto news and buying tips? Check out Approved Loan Store on Facebook, Twitter, and YouTube!

Chevrolet and Disney Take Test Drives to the Next Level

Since it is Friday, we thought we’d send our readers into the weekend with a smile and a touch of magic courtesy of the good people at Disney and Chevrolet.

In just under 3 weeks, one of Walt Disney World’s most thrilling rides Test Track will reopen after a major renovation and upgrade.

Test Track presented by Chevrolet is a high-speed ride that takes park guests through a vehicle test drive. It opened in 1999 replacing the World of Motion attraction and quickly became a popular ride. In Test Track, riders would brave extreme weather, rough terrain, and sharp turns as engineers test the car’s performance.

In recent years, Disney parks have striven to give park goers a unique experience when they come back to a favorite attraction. The recent Star Tours reboot was broken into 3 acts with different beginnings, middles, and endings, creating hundreds of possible combinations for the ride. Also, the recent Radiator Springs Racers at Cars Land has two different tracks and an ending race that changes with each ride.

Test Track took a page from Star Tours and Radiator Springs Racers’ book. Before the upgrade, every guest that rode Test Track had essentially the same experience. Now, guests will get to design their own vehicle before boarding the ride, and the choices they make will affect their ride experience. Melissa Jeselnick of Walt Disney Imagineering explains, “Your input, plus the Chevrolet design know-how and a dash of Disney magic equals your very own concept car with trillions of possible outcomes.”

From concept art, it looks like riders will design their car on a touch-screen computer while in line, but it is not clear exactly how all of these customizable elements will work once the ride is up and running. Fortunately, car enthusiasts and Disney fans will just have to wait a little while longer to see the finished ride. The new Test Track presented by Chevrolet is scheduled to open December 6 at Walt Disney World’s Epcot Center.

Are you excited for the new test track? Does the interactive design element make you more or less likely to try it? Leave a comment below, and let us know what you think!

Are you looking for a great new or used car that can stand up to bad weather and rough roads? Approved Loan Store can help! Good credit, bad credit, no credit, we want to get you into a car you want at terms you can afford! Fill out our secure online auto loan application here, and get the latest auto news and buying tips by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!