Tag Archives: application

Longer or Shorter Auto Loan Length: The Right Choice for You

If you’ve been paying attention to auto loan trends, you would have noticed that the length of the typical auto loan has gone up in 2012, averaging at 64 months or about 5.3 years. Lenders are more willing to grant these longer loans, and looking at the lower monthly payments, it is easy to see why these loans appeal to consumers. These longer loans, however, are not necessarily right for everyone, and choosing the wrong loan length could cost you in the long run. How do you know if you need a shorter or longer loan length? We have a rundown of the major advantage and disadvantage of both types below.

Longer Loans

Longer loans are usually better for people who have shakier finances. The monthly payments are lower, so if a costly emergency comes up, the car payments won’t be as much of a burden. The downside of longer loans is that the interest adds up. In the end, you will end up paying more for the car, but you’ll get to pay it over a longer period of time.

Shorter loans

Shorter loans are better for people who are certain they can pay the loan off quickly, usually people with less financial obligations. The biggest upside to shorter loans is that you will pay much less in interest over the course of the loan. The downside is that if an emergency comes up, the monthly payments are much higher and will put a bigger burden on your finances.

The great thing about going through Approved Loan Store instead of walking up to any dealership is that our Special Finance Representatives will sit down with you personally and help you figure out what type of auto loan is the right choice for you. They will review your financial situation and determine with you what will suit your needs and not break your budget, whether that is a longer or shorter loan length.

Are you ready to get into a new or used car? 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 connect with us by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

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Time Magazine: September is the Best Month for Car Deals

Have you been procrastinating on buying a new car? Industry experts say that September will be the best time to buy all year for those looking for wide selection and low prices, particularly on used cars.

According to Time Magazine’s Moneyland, September is the best time to buy 7 products: cars, jewelry, summer weather-related products, back-to-school products, plants, stoves, and produce. What makes September so special for the auto industry? Well, most dealerships have received the 2013 models by September, and they are ready to be out with the old and in with the new. 2012 models will be deeply discounted, even if they don’t have a lot of miles on them, and dealerships will want to move them out the door.

Unfortunately, this means that by the end of September, most of the choice inventory will be picked over, and while car buyers might still get some good deals in the last few months of the year, they will have probably missed out on an even better deal. If there was a time to get looking for that new or used car, it is September.

Approved Loan Store wants to help you get in on these September deals. Good credit, bad credit, no credit, we want to get you into a great new or used car. Fill out our secure online auto loan application here, and connect with us 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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Consumer Alert: Westchester Car Buying Scam

At Approved Loan Store, we want to make your car buying process easier and more pleasant. Unfortunately, there are people who offer car terms that are too good to be true, and we have to deal with the fall-out of disillusioned consumers who fell prey to these scams. That is why we wanted to alert our readers to a recent car buying scam in Westchester. It is our hope that by reporting about this scam, car shoppers in the New York City area will not fall for it and then wind up out of money and without a car.

We heard about this car buying scam through the Scarsdale Patch. According to their report, a Westchester man was trying to buy a 1961 Impala from a seller on Auto Trader. The buyer was instructed by the seller to wire the payment for the car through a Google Wallet account. Once the transaction was complete, the seller promised that the car would be shipped. Anyone familiar with these kinds of scams will know how it turned out. After wiring the money late last month, the buyer suddenly couldn’t get a hold of the seller, and even more infuriating, the buyer saw that the car was still listed as available on the Auto Trader Website.

Not everyone who purchases a car through Auto Trader, Craigslist, or other websites has a poor experience. Car buying online can seem convenient, and we have many car buying tools on our website including our online auto loan application. However, there are risks to going through a private buyer on Auto Trader or Craigslist. Even if the seller had shipped the 1961 Impala, there is no telling what condition that car would be in. Furthermore, if a seller asks to have money wired in advance, run the other way. Money transfers are an immediate red flag. To avoid these problems, we recommend buying from a car dealership, preferably an Approved Loan Store dealership. If a private seller still seems promising, though, deal with the seller in person and get the vehicle inspected before purchasing.

Are you looking to get into a new or used car? Good credit, bad credit, no credit, we want to help you get into a great car at terms you can afford! Fill out our secure online auto loan application here, and connect with us 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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“Designated Texter” Hopes to Change Trend on Texting-and-Driving Accidents

In the past year, we have talked a lot about the dangers of texting and driving and new technologies designed to curb this deadly trend. Parents and educators have tried scaring teens with PSAs and real-life stories of people whose lives were ruined when a friend or family member decided to text and drive. The answer to texting and driving, though, might be a heck of a lot easier (and cheaper) than any of these high-tech bells and whistles and more effective than scare tactics.

“Designated driver” is a term that is very familiar to any driver old enough to drink. It means that when a person chooses to drink, they willingly give up their car keys to a sober driver or arrange for a taxi pick-up at the end of the night. Similarly, the new term “designated texter” indicates someone in the car other than the driver who will place any calls or send any texts for the car. For example, if a group of friends are driving to a party but get lost on the way, the designated texter can call or text to get directions.

Honestly, I am shocked that no one came up with this idea before. It is simple, doesn’t cost anything, and is purely common sense. The National Highway Traffic Safety Administration is hoping that the idea catches on, and at Approved Loan Store, we hope so too. We want all of our customers to be safe on the road and encourage our readers to use common sense whenever they get behind the wheel. Whether it means getting a designated driver or assigning a designated texter, do what you need to do in order to stay safe and keep others safe on the road.

Are you looking to get into a new or used car? Bad credit, no credit, good credit, Approved Loan Store wants to help you! Fill out our secure online auto loan application here, and connect with us 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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Are You Paying Too Much for Auto Insurance?

At Approved Loan Store, we want to make sure our customers get the best possible deal on an auto loan, but there are more costs to owning a car than just the loan payments. There is the cost of gas, general maintenance, and of course, insurance. We want to help our customers save on these other car costs, so when we saw these tips for lowering car insurance costs over at Fox Business, we wanted to share them with our readers. Please remember that discounts and terms of those discounts vary between insurance companies, so ask your insurance company if these discounts are applicable.

If You Are in a Committed Relationship…
Married couples and unmarried committed gay couples can often receive discounts, especially if they are insuring multiple vehicles.

If You Are a College Student…
Full-time students can receive a discount. Sometimes the discount is based on grade point average, but that isn’t always the case.

If You Installed a Car Alarm…
Many insurance companies will offer a discount for installing car alarms, fuel or ignition cutoff switches, vehicle identification number engravings, or car tracking systems.

If You Switched to Paperless…
So many insurance companies want to brag about going green, and they give incentives to customers for e-mail communication instead of paper mailings. Also, if you are thinking about switching to a hybrid, some car insurance companies are giving as much as a 10 percent discount.

If You Were in a Fraternity/Sorority…
Former frat brothers and sorority sisters can get up to an 8 percent discount. The reasoning is that individuals involved in these kinds of groups are more responsible and less likely to be reckless drivers.

If You Served Your Country…
Many companies want to ease the financial burden of those who have served in the armed forces, and car insurance companies are no exception. Some offer a 15 percent discount when the driver is home in the states and up to 80 percent when they are deployed.

If You Have Good Credit…
This is a tip we have mentioned before, but it bears repeating. By improving your credit, you can save money on so many things including car insurance.

If You Are a Teacher/Doctor/Police Officer/ Self-Employed…
There are numerous discounts based on profession, and it isn’t just for servicemembers. Again, check with your insurance company because the variety of professions included is shocking.

If You Are a Loyal Customer…
Have you been with your insurance company for 5 years? 10 years? If so, you might be eligible for a customer loyalty discount.

Are you taking advantage of all of these discounts? Did we miss any lesser-known discounts? Leave a comment below, and tell us what discounts you are taking advantage of with your insurance!

Looking for a new or used car? Concerned that your credit is holding you back? Approved Loan Store wants to help you! Fill out our secure online auto loan application here, and keep up with the latest news and auto 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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When Customers Complain Online, Car Companies Listen

Every day, disgruntled consumers take to the internet to complain about everything under the sun. From the recent hilarious Bic Pens for Women debacle to the heartbreaking story of Katie Fisher and Progressive car insurance, American consumers have no trouble expressing their uncensored feelings online. What they might not know, though, is that when it comes to car forums and review sites, the big dogs of the American auto industry are paying attention.

First reported by the Detroit News, car companies are starting to use internet outreach to contact upset customers and resolve their problems. Chrysler’s online customer service unit has contacted almost a half-million customers in the past year alone. They’ve also engaged in online forums and auto news and review websites, posting over 3,000 messages. GM has similarly started their own customer service unit that concentrates on their online outreach across over 100 online forums. So far, the new online outreach has been very successful for both companies. Pietro Gorlier, president of Mopar brand service, parts, and customer care at Fiat-Chrysler, had a lot of praise for the online community because, as he put it, “[T]hat is where the enthusiast communities meet.”

At Approved Loan Store, we have striven from the very beginning to provide many outlets for our customers to connect with us online and provide feedback. It is one of the reasons why we have been so successful. We have listened to what people want in their car buying experience and made it easier from filling out the application to getting the keys to a new or used car. Anyone can go to our website and see the hundreds of customer testimonials, and we want car buyers to like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, or subscribe to Approved Loan Store on YouTube to get the latest auto news. The big dogs like Chrysler and GM might be just now getting on-board with social media, but at Approved Loan Store, we created a better car buying experience from the beginning by listening to you!

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Cedar Rapids Boy Steals Family Car, Crashes 4 Blocks Away

There is a phase that a lot of young kids go through where they threaten to run away from home. They pack up their backpacks with a couple of peanut butter and jelly sandwiches, a beloved stuffed animal, and their Nintendo DS, but usually that is as far as it goes. A 7-year-old in Cedar Rapids, Iowa, however, decided to take it a huge step forward and steal his mom’s car for a quick getaway.

Last Saturday at around 9 a.m., the unnamed boy took his mother’s car keys and drove down 33rd Street to Edgewood Parkway. On a typical day, this area of Cedar Rapids is fairly busy with a movie theater, numerous restaurants, and a mall close by. Fortunately, he only got about a block down Edgewood before he crashed the car between a bank and a Wendy’s restaurant, and despite the state of the car, he did not sustain any serious injuries.

As of publication, it is uncertain what sort of punishment the boy will receive. He has been cited for a laundry list of violations and misdemeanors including driving without a license, failure to maintain control, hit-and-run, and no insurance. Unfortunately, this is not the first time that he has tried to get the car from his mom. Police Capt. Bernie Walther told ABC affiliate KCRG, “He has grabbed her keys before and tried to do this, but this is as far as he’s ever gotten.”

At Approved Loan Store, we know that our customers aren’t always looking for a new car under the best of circumstances. Whether it is a challenging credit situation, a recent car accident, or a tot taking the family car for a joyride, we want to make the car buying process as easy as possible. If you’re looking to get into a new or used car, fill out our secure online auto loan application here, and get the latest auto and credit news 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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Ad Campaign Reflects Reality of Drunk Driving

From the time I entered grade school, one of the biggest messages that was drilled into my head was to never, ever drink and drive. Years before I could even get my license, I knew that drinking and driving was a terrible idea because I could be arrested or worse cause a fatal accident. Even so, there were over 1.41 million drivers arrested in 2010 for driving while under the influence of drugs or alcohol. For whatever reason, many drivers (especially young drivers) still don’t comprehend the danger they are putting themselves and other drivers in when they drink and won’t give up their car keys. An unusual new campaign, however, is hoping to stop drunk driving. They aren’t using the usual scare tactics of showing totaled cars or dead bodies. Instead, they are simply putting up a mirror and letting bar patrons reflect on what they see staring back.

The ad campaign, conceived by the agency behind the Conan O’Brien American Express commercial and Scrabble’s Block Project, was tested out at a packed bar in Brazil. For the campaign, they built a “mirror” which was actually a TV screen with a hidden camera, and they put the video on a delay of about 2-3 seconds. They placed the “mirror” in the space between the men’s and women’s restrooms, so anyone walking into the bathroom would see it. It wasn’t long before the mirror started getting a lot of attention. Some people leaned side-to-side or waved at the mirror, while others tried dramatic turns or dancing. After the bar patrons had a good laugh, though, a note appeared in the corner of the screen reading, “This is how slow your reflexes are after only a few drinks.” The effect was immediate. Giggling twenty-somethings stopped cold, their faces turning from carefree to concerned or upset. Many left their drinks next to the mirror or on the nearby bar counter.

You can watch a video of the campaign here:

Personally, I am a huge fan of this campaign. If I had been in the bar that evening, I would have thought that the mirror was a silly high-tech gadget meant to impress their patrons. I never would have guessed that it was meant to deter drunk driving. In fact, I probably would have been one of the people messing around with the mirror with my friends. Hopefully the Drunk Mirror campaign will make its way to the U.S. soon because I think it could be very effective, particularly in big cities like New York City.

Readers, we want to hear from you! What do you think of the Drunk Mirror campaign? Do you think it would work on American bar patrons, and would it be more effective than traditional PSAs? Leave a comment and let us know what you think!

Looking to get into a new or used car? Approved Loan Store can help! Fill out our secure online auto loan application here. Also, get the latest auto and credit news by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube.

Survey: Negotiating Price, Financing Worst Part of Buying a Car

A new survey has confirmed what we over at Approved Loan Store already know: Car shoppers hate haggling over price.

The survey asked 2,000 respondents to list steps in the car buying process from the most pleasant part to the least pleasant part. They could choose from researching vehicles make and models, shopping and test-driving, arranging/negotiating financing, and negotiating the price of the car. Overwhelmingly, survey subjects chose negotiating the price of the car as the least pleasant step in the car buying process followed closely by negotiating financing.

At Approved Loan Store, we know that car buyers hate haggling over price and financing, and we are constantly striving to make the process more streamlined and better for our customers.

Step 1: Fill out our secure online auto loan application here.

Step 2: You will be contacted by an Approved Loan Store representative who will schedule an appointment with the Approved Loan Store dealership closest to you.

Step 3: Meet with an Approved Loan Store Special Finance Representative who will work with you and get the best possible price and financing options.

Our network of dealerships has helped customers all around the tri-state area get into great cars at affordable terms. Hundreds of customers have given written and video testimonials raving about their experience with Approved Loan Store, and we know that one of the reasons is because our process makes pricing and financing easier. At other dealerships, pricing and financing might be the stuff of nightmares, but with Approved Loan Store, financing a car is as simple as 1-2-3.

Want to connect with Approved Loan Store online? Like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube to get the latest auto news and updates from Approved Loan Store.

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Have Celebrity Car Endorsements Gone Too Far? Batman Reviews Hyundai i30

These days, every car manufacturer is looking for a celebrity to promote their latest, hottest models. Justin Bieber has his chrome Fisker Karma, Charlie Sheen drove a FIAT 500 Abarth through his house in FIAT’s “House Arrest” commercial, and Jerry Seinfeld tried to get his hands on an Acura NSX in last year’s Super Bowl commercial. Recombu Cars, a new source for independent car news and reviews, is taking a new route with the celebrity endorsement and soliciting the opinions of fictional characters.

Their first (and hopefully not last) “celebrity” auto critic is none other than Bruce Wayne’s famous alter-ego, Batman. Recombu Cars’ Rory Reid was filming a typical video review of the Hyundai i30 in Central London when his review was hijacked by the caped crusader. To say that Batman was initially underwhelmed by the i30 is an understatement. When Reid praised the i30’s spacious interior with plenty of room for families, Batman growled, “My parents are dead.”

By the end of the review, though, Batman had softened to the i30 and even begrudgingly asked if it came in black. I still doubt that Batman will pick up the i30 considering how much trouble he had with the voice-activated entertainment center. “Play CD…play CD…swear to CD!”

You can watch the full review below:

At Approved Loan Store, we’re not so sure we would take Batman’s advice in picking out a new car, but our special finance representatives are ready and willing to help you, whether you have a year and model in mind or if you are just starting your car search. Fill out our secure online auto loan application here to get started, and keep up with the latest auto news by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!