Monthly Archives: July 2013

Consumer Reports: Speeding Lowers Vehicle’s Fuel Efficiency

Do you want to improve the fuel economy of your car today? According to Consumer Reports, all drivers need to do is follow the speed limit.

Consumer Reports recently conducted a series of tests which measured the fuel economy of the Honda Accord four-cylinder, the Toyota RAV4, and three different Ford Fusion models. Each car’s fuel economy was measured driving at 55, 65, and 75 miles per hour. Every single car that they tested had a better fuel economy at 55 mph vs. 75 mph, and every car also exceeded their fuel economy estimates when the car was driven at 55 mph.

Speeding on the highway might be tempting, especially when in a rush, but drivers end up paying more both at the pump and in speeding tickets. At Approved Loan Store, we recommend following the posted speed limits. By following the speed limits, you are making the roads safer and putting wasted gas money back in your pocket.

Are you looking for a safer car or one with better fuel efficiency? No matter what you’re looking for, Approved Loan Store wants to help you get in a car you want at terms you can afford! Good credit, bad credit, no credit, we will work with you! Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

Image courtesy of Paul / FreeDigitalPhotos.net

Pricing Announced For 2014 Ram 1500

Just in time for the 4^th of July, Ram announced the pricing for one of America’s favorite trucks, the 2014 Ram 1500.

The 2014 Ram 1500’s base starting price will be $24,605, and the price tag will go all the way up to $49,175 for the Ram 1500 Laramie Limited starting cost. Not much has been said yet about the features in the new Ram 1500 aside from the 3.0-liter EcoDiesel engine and the TorqueFlite eight-speed automatic transmission, but more features will likely be announced in the next few months.

On the up-side, the Ram 1500 will have improved fuel economy and more power, and it is already established as a reliable truck. When Edmunds reviewed the 2013 Ram 1500, they named it as their favorite full-size pickup truck. Unfortunately, these updates come with a price increase. The base 2014 Ram 1500 will be $610 more than the base 2013 Ram 1500.

In our opinion, the jury is still out on the 2014 Ram 1500. The new engine and transmission all sounds great, but we need to know more about the 1500’s features before deciding if the price increase is worth it.

Readers, we want to hear from you! Do you think the price increase will be worth it for the 2014 Ram 1500? What are your thoughts on the 2013 Ram 1500, and would you consider test driving the 2014 Ram 1500 when it goes on sale later this year? Leave a comment below, and let us know what you think!

Summer time is here! Are you finally ready to get into a great new or used car? Approved Loan Store wants to help YOU! Good credit, bad credit, no credit, we will work with you to get a car you want at terms you can afford! Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

Mazda’s Regenerative Brakes Promise Better Fuel Economy

About a month ago, Ford claimed that their regenerative braking system could recapture up to three-times the kinetic energy of their competitors’ systems. Mazda is putting that claim to the test with their new regenerative braking system, the Mazda i-ELOOP.

While normal brakes use friction to slow and stop the vehicle, regenerative brakes reverse the vehicle’s electric motor, recapture the kinetic energy, and put that energy back into the vehicle’s battery to power the headlights and climate control. The Mazda6 doesn’t have to use as much fuel to power these systems, and the vehicle earns a higher fuel economy.

According to Mazda, a 2014 Mazda6 equipped with i-ELOOP will achieve 28 city/40 highway/32 combined mpg, an improvement on the typical 2014 Mazda6 which has a highway fuel economy of 38 mpg. Unfortunately, i-ELOOP is not standard on the Mazda6 and is only available with the GT Technology Package, so car shoppers considering the Mazda6 will have to pay more for it. Still, the savings on gas might make the expense of the i-ELOOP worth it in the long run.

Toyota Sells 3 Millionth Prius Worldwide

Last week, Toyota announced that 3 million Priuses have been sold worldwide.

It has been 16 years since the Prius was first launched and a whole decade since the introduction of the second generation Prius. In 2009, Toyota introduced the third and most recent generation Prius which produces only 89 g CO2 per km.

The Toyota Prius, one of the first and most popular widely-available hybrid vehicles, also has the distinction of receiving the NHTSA 5-Star Overall Safety Rating. Kelley Blue Book rated it a 9.1 out of 10, and Edmunds awarded it a 4.9 out of 5-star rating.

At the time of publication, the starting price for the 2013 Prius is $24,200. Standard features for the 2013 Prius Two include LED daytime running lights, climate control, UV reduction glass windshield, touch-screen audio player with iPod connectivity, fuel consumption history and rear spoiler with LED center high-mount stop lights.

Consumer Protection Group Offers Summer Car Buying Tips

A Michigan organization dedicated to helping consumers avoid auto theft and fraudulent auto sales has released a series of tips to protect car buyers this summer.

H.E.A.T., or Help Eliminated Auto Thefts, first and foremost recommends that car buyers avoid buying a vehicle online. This doesn’t mean that car buyers shouldn’t research vehicles, browse inventories, or apply for an auto loan application, but ultimately the transaction should happen in person through an actual dealership. Craig’s List is great for buying a cheap couch or job hunting, but it is not suited for purchasing a vehicle.

H.E.A.T. also provided other recommendations like meeting at the Secretary of State and double-checking all vehicle information including the VIN, but the easiest way to avoid all of these problems is to shop for a new or used car through Approved Loan Store. Approved Loan Store offers the convenience of applying online while also providing the security of a physical store. Our finance specialists work face-to-face with our customers to make sure they get the car that they want at terms they can afford.

Are you finally ready to get into a great new or used car? Approved Loan Store wants to help YOU! Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

Image courtesy of M – Pics / FreeDigitalPhotos.net

Concept Vehicle of the Year Award Go to Ford, Hyundai, and BMW

Earlier this week, the Concept Vehicle of the Year awards were presented, and the big winners were Ford, Hyundai, and BMW.

The awards, which are voted upon by automotive journalists, can go to any of the concept cars that debuted at this year’s auto shows in New York, Chicago, Detroit, and Los Angeles. Hyundai’s HCD-14 Genesis won best concept car while the Ford Atlas pickup won best concept truck and the BMW i8 Spyder won best production preview vehicle.

What made the 2013 awards different from previous years? First and foremost, it seems like automakers are pushing to make these concepts into a reality. For example, Ford’s main aim with the Atlas was proving that a pickup truck can be powerful while still being fuel efficient. According to Ford’s truck group marketing manager Doug Scott, the Atlas is a peek at the real “future” of Ford, not an idea that will never actually materialize on the showroom floor. Secondly, the Ford Atlas and Hyundai HCD-14 were both premiered in Detroit at the North American International Auto Show. Perhaps it was just a coincidence, but it could be that Detroit is the place to look for future Concept Vehicle of the Year winners.

Study: Detroit Has the Country’s Most Patriotic Car Buyers

The 4^th of July has now come and gone, but CarGurus.com wanted to know which major cities were buying “patriotic” cars, or American brand cars, all year round. Read on to find out which cities fared the best and worst.

In Detroit, MI, 67.8 percent of car shoppers were looking for cars produced by General Motors, Ford, or Chrysler, a higher percentage than any other city. Coming in number 2 was Cleveland, OH, followed by Indianapolis, IN, St. Louis, MO, and Kansas City, MO.

Unfortunately, New York, NY did not perform well at all. New York came in number 4 in the Bottom 10 Cities list released by CarGurus.com. Only 39.8 percent of car shoppers were looking for American brand cars while 30.7 percent were considering Asian brands and 29.5 percent were considering European brands.

No matter what kind of car you are looking for, from Chryslers to Volkswagens, Approved Loan Store wants to help YOU! Good credit, bad credit, no credit, we will work with you to find the car you want at terms you can afford! Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

Image courtesy of Felixco, Inc. / FreeDigitalPhotos.net

To Co-Sign or Not to Co-Sign, That is the Question

In the Coen Brothers’ film The Hudsucker Proxy, there is a scene where Noville Barnes, a fresh-faced, ambitious young lad, goes to take a look at the city’s jobs board and makes a terrible discovery. Nearly every job available requires at least five years of business executive job experience, and he has almost no job experience at all. He cannot get a job without experience, and he cannot get job experience without first holding a job.

Establishing credit is a very similar experience. In order to get approved for a credit card or an auto loan, lenders want to see a history of paying credit cards and loans on time, but it is impossible to establish that payment history without first getting a credit card or loan. Consumers with no credit are stuck in a frustrating cycle. If they do somehow get approved for a credit card or loan, they can end up saddled with high interest rates, fall behind on payments, and end up with a poor credit history which is almost as bad as no credit at all.

For these reasons, I had difficulty reading the article “Why You Should Never Co-Sign for Your Kid.” The author takes the definitive stance that parents should “never” co-sign for their children. She seems to take the stance of tough love, saying that no credit is “no big deal.” It might seem like a big deal right now, but there are many circumstances under which a teenager having credit is necessary. I hate to say it, but what if something happened to the parents? What if there was an accident or a long illness and their child had to take on more financial responsibilities for the family? An emergency situation would hardly be the time to try to establish credit.

Even if nothing that drastic occurred, I will want my teenagers to be able to obtain low interest rates by the time they are living on their own. They will already have to deal with high student loan interest rates, and while I personally plan on helping them pay for college, many families can’t afford to do so. Are they supposed to worry about establishing credit when they are already facing a mountain of student loan debt?

I am not saying that it is always a good idea to co-sign a loan with a family member. There are plenty of circumstances where co-signing for a loan is not advised, but I don’t appreciate the author issuing a blanket statement that parents should never co-sign a loan for their child.

Readers, what do you think? Would you co-sign a loan for a family member, or do you think it is a bad idea? Leave a comment below, and let us know what you think!

Is your credit keeping you from getting an auto loan? Approved Loan Store wants to help YOU get into a new or used car! Good credit, bad credit, no credit, we will work with you to get a car you want at terms you can afford! Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

Image courtesy of photostock / FreeDigitalPhotos.net

Toyota Offers Big Discounts on America’s Best-Selling Car

As competition heats up amongst family sedans, Toyota is taking big steps to boost the Camry’s sales including discounts and incentives adding up to thousands of dollars in savings.

At the end of May, Camry buyers could receive up to $2,750 in various incentives from Toyota, more than the $2,400 discounts on the Nissan Altima or the $2,300 discounts on the Ford Fusion. Toyota is hoping that these discounts will help Camry hold onto the title of America’s Best-Selling Car for yet another year. Perhaps the low cost will also draw in young consumers who don’t have the money for a big down-payment or haven’t established a strong enough credit score to purchase a pricier vehicle.

According to Toyota’s website, the 2013 Toyota Camry has a starting retail price of $22,235 with standard on-board computer, climate control, keyless entry, and Bluetooth hands-free telephone access. The Camry has a 25 mpg city, 35 mpg highway fuel economy, and it has received a 9.3 out of 10 rating from Kelly Blue Book and a 4.9 out of 5 rating from Edmunds.

This summer, Toyota is offering competitive pricing, and here at the Approved Loan Store, we are ready to offer you competitive auto loan rates and terms, no matter what your credit situation! Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!