Tag Archives: Approved Loan Store

Driver Leaves Maserati Running in Times Square, Surprised When It Gets Stolen

Note to Maserati owners: If you don’t want your car stolen, don’t leave it unlocked with the engine running in the middle of Times Square.

Chadwick Lange was new to the city, just moving to Manhattan from Florida. According to his account of the events, he saw a friend of his around the intersection of 47th Street and Broadway, so he pulled over his 2008 Maserati Gran Turismo to say hello. He must not have planned on staying long because he left the keys in the ignition and the engine running.

Two strangers approached Lange and asked if they could take some pictures of his Maserati. He obliged and went back to the conversation with his friend. After the two strangers took a few pictures, one of them jumped into the front seat and drove off, slowing down only to let his friend jump in the passenger side further down the street.

So far, there has been no sign of the car or the two thieves, but it seems like this crime could have been prevented with a little common sense. Most people know not to leave a car unattended with the keys still in the ignition, much less a Maserati, but some have speculated that Lange wasn’t just pulling over for a chat. A fact that has gotten buried underneath the shocking stupidity is that Lange’s car was stolen at 4:30 in the morning. He just happened to be driving around at 4:30 in the morning and ran into his friend (*cough* DEALER *cough*), and he decided that he should stop for a chat (*cough* FIX *cough). Well, whatever reason Lange decided to pull over that day, whether for a fix or for a conversation, I hope it was really, really good.

Need a new car? Approved Loan Store wants to help you! Bad credit, no credit, car got stolen in Times Square, we want to get you into a new or used car at terms you can afford! Fill out our secure auto loan application here, 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!

War Veterans Restore Classic Cars, Rehabilitate Bodies and Souls

For soldiers coming back from Iraq and Afghanistan, the transition from military service to civilian life is a tough road both physically and psychologically. These difficulties are compounded for soldiers who sustained major injuries and have to re-enter civilian life with a physical handicap. In San Antonio, an auto garage has stepped up and is taking an active role in helping America’s veterans. Their goal? Restoring classic cars.

Automotivation was founded in 2006 by Operation Comfort, a non-profit organization dedicated to caring for wounded troops. Operation Comfort coordinate sports programs, woodworking classes, financial assistance/education programs, and car restoration programs for soldiers rehabilitating at the Brooke Army Medical Center. These programs give the soldiers joy and purpose in an otherwise difficult time, and it also provides a social outlet where soldiers can bond over a common interest.

Since 2006, Automotivation has made annual trips to the Specialty Equipment Manufacturers Association (SEMA) Show in Las Vegas to show off their work. Thanks to generous donors, they have had plenty of work to show off. In the past few years, Automotivation has purchased and restored a 1984 Ford Bronco and a 1966 Cobra Kit Car. Their progress was documented on their website and can be seen here.

Besides the social aspect of the program, Automotivation’s organizers want to teach these soldiers practical skills that they can use in their professional lives. Returning soldiers can often have trouble finding work, and learning the ins and outs of a car can open new job opportunities to them. On the Operation Comfort website, one of the program’s organizers wrote, “Our hope is that these young men and women will find that they love working on cars and decide to go into the Automotive Industry.”

If you would like to donate to this fine organization, follow the link here. Also you can 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.

Auto Loan: New FICO 8 Unnecessarily Complicates Credit Score

Maintaining a good credit score is a tough task that takes time, attention, and diligence on the part of the consumer. Most Americans don’t even know their credit score, much less what it means or how it is calculated. Consumer groups and government agencies like the Consumer Financial Protection Bureau are trying to demystify credit reports and credit scores for the general public, but unfortunately, the credit reporting industry is, perhaps intentionally, making credit scores more confusing.

FICO scores have been the credit industry standard for years, ranging from 300 up to 850. When lenders talk about your credit score, it is likely they are referring to your FICO score. Recently, the Fair Isaac Corporation, which produces the FICO score, touted that the number of consumers in the top tier of credit scores has increased, and the number in the bottom tier has decreased. This sounds like really great news until Ann Carrns of the New York Times took a closer look.

As it turns out, the numbers they were touting were not based on the FICO score but rather a new-and-improved FICO score, FICO 8. FICO 8 is a new formula used to calculate that all-important credit score which can mean the difference between getting approved for a higher amount on a car loan or getting a lower interest rate. Fair Isaac Corporation will disclose that over 76,000 creditors are using FICO 8, but they would not say how many creditors are using the older FICO score model or how a consumer can find out which model a particular creditor is using. Even more frustrating, the FICO 8 credit score is not available for purchase from Fair Isaac Corporation, so consumers are left in the dark as far as their FICO 8 score is concerned.

I’ve been writing about the credit industry and how it relates to the auto industry for a while now, and this is one of the most ridiculous stories I have ever heard. Through this blog, we are trying to simplify the car buying process and give our readers the most basic information that every consumer needs to know to improve their credit and get the best rates on an auto loan. When it comes to credit scores, we often tell people to stick with the original and the industry standard, their FICO score. Now, even that most basic tip has been complicated with the old model FICO score vs. the FICO 8 model. The Consumer Financial Protection Bureau has promised that they will be closely monitoring the credit reporting industry, and I sincerely hope that they crack down on this nonsense. One last message to FICO: Your actions are confusing consumers and making credit way too complicated. Please stop.

No matter 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 keep up with the latest auto news and consumer alerts by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Image: FreeDigitalPhotos.net

Mazda Puts Line-Up on Strict Diet

Fuel efficiency and alternative fuels are becoming more and more important to car manufacturers, and Mazda hopes to improve their line-up with a bold goal: putting their line-up on a strict diet.

Last week, Mazda announced a plan to cut a minimum of 220 pounds with every vehicle model redesign. This is not an easy task for the company’s engineers who have to fulfill certain safety requirements as well as keep customers happy with newer technology and more comfortable interiors. Still, Mazda is dedicate to the lofty goal, even as the cars will eventually run out of weight to cut. Vehicle development engineer Dave Coleman commented, “Obvious that’s going to get harder and harder. We focused so much on the low-hanging fruit that we still have a lot of room.”

How does a car company go about lightening a car’s load? New lightweight materials play a big role, and frame redesigns require less steel, automatically cutting back the car’s weight. Of course, the problem with some of these new materials is availability and price. While they might be cheaper in the long run with higher fuel efficiency, consumers might end up paying a little more now for these lighter cars.

What do you think about Mazda’s weight goals? Would you be more or less likely to buy a Mazda after they drop some pounds? Leave a comment below, and tell us what you think!

Are you looking to get into a new or used vehicle but 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 auto news by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Image: FreeDigitalPhotos.net

Parents Transform Lightning McQueen Powerwheels Car Into Best Toy Ever

At Approved Loan Store, we feel like there has been so much bad news in the world lately. Everyone seems on edge and all too ready for a fight, and good news rarely makes it into the headlines. This is why we thought it would be nice to send our readers into the weekend with a smile, courtesy of five-year-old Evan, Evan’s Lightning McQueen Powerwheel, and the coolest dad ever.

Back in 2009, Evan got a Lightning McQueen Powerwheel, his very first car. He was only 2 years old, but he drove that car so much that he wore out the plastic wheels. Instead of getting him another powerwheel car, though, his parents decided to put money into fixing up the car and making it even better than it was before. They got real rubber tires for the car as well as a partial aluminum chassis, 24-volt gel batteries, disc brakes, a modulated throttle, and a 500-Watt, 0.66-horsepower electric motor.

Just a few days ago, FFTEC Motorsports posted up a video of the souped-up Lightning McQueen in action driven by now five-year-old Evan. To make it even better, his parents took him out to a dirt track to really show off what the car can do. Evan weaved around obstacles, sped around the turns, and generally looked like a kid having the time of his life.

You can watch the full video here:

Are you looking for a new or used car? We might not have any souped up Lightning McQueen Powerwheels cars in our inventory, but at Approved Loan Store, we want to help you get into the car you want, even if you have problems with your credit! Fill out our secure online auto loan application here, and get 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!

GM Announces Major Breakthrough in Electric Car Batteries

This might be only the second full week of August, but already it is the month of hybrid and electric cars. Earlier this week, we told you about new technology out of Middle Tennessee State University that will transform normal vehicles into fuel-efficient hybrid cars.  Yesterday, GM continued the trend by making a major announcement about the future of electric cars.

GM CEO Dan Akerson announced at an employee meeting Thursday that there has been a breakthrough in the lithium-ion batteries used in electric cars. Right now, the Chevrolet Volt can go for about 35 miles per electric charge with a gas motor that kicks in if the battery power runs out. Akerson announced that the new batteries would be able to travel 100 miles per charge, nearly three times its current power, and he teased that the batteries would soon be able to travel up to 200 miles per charge. He called the increased battery power a “game changer” in the industry.

Even with this great news, though, GM is still being cautious and keeping their business in mind while exploring hybrids and electric cars. If it turns out that they can’t make 200-mile batteries, they are also working on hydrogen fuel cell vehicles and natural gas vehicles. Akerson compared focusing solely on electric cars to putting “all of our chips on one bet” and assured GM employees and the public that GM would explore all of their options.

If GM came out with electric cars that could go 200 miles on one charge, would you take one for a test drive? Leave a comment below, and tell us what you think!

GM’s new high-powered electric cars are still a ways off, but Approved Loan Store wants to help you get into a new or used car today. Good credit, bad credit, no credit, we want to help you! Fill out our secure online auto loan application here, 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!

Cops Catch California Craigslist Car Crook

Since the start of Craigslist, there have been horror stories of scam artists taking advantage of consumers looking for a good deal on an apartment, a stroller, or a car. It is impossible to know exactly what to expect when responding to a Craigslist ad. Sometimes, the poster is a perfectly normal human being who doesn’t want to pay to advertise their used furniture on another website. Other times, the poster is a predator looking for their next victim. Even with these warnings, though, people still use Craigslist in hopes of finding that one great deal, even when it comes to a major purchase like a car. If you needed another reason to stay away from Craigslist’s car ads, this story out of Belmont, CA will hopefully do the trick.

A family in Belmont responded to a Craigslist ad for a 2011 Nissan Altima. They wanted to be safe and make sure this ad was legitimate, so they met the seller Christopher John Prew in person to check out the car. Everything seemed to be in order, and they handed over a $500 cash deposit. From here, the deal started to seem fishy. Prew didn’t have the car title with him, and he agreed to meet the family later to hand over the title and receive the rest of the payment for the car. He left with the money, and the family called the police. As it turns out, the car didn’t belong to Prew at all. The Nissan Altima was a rental from Hertz.

Fortunately, Prew didn’t get away with it. The police set up a meeting with Prew, posing as another potential car buyer. When Prew showed up, he was taken into custody. He is being charged with one count of theft by false pretense, though the police believe that there might be other victims that have not yet come forward.

You don’t have to take a chance when car shopping. Approved Loan Store wants to help you get into a new or used vehicle, even if you have poor credit or no credit! Fill out our secure online auto loan application here, 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.

Image: FreeDigitalPhotos.net

Tennessee Student Invention Changing the Future of Hybrid Cars

New green technology is becoming more of a necessity as every year goes by, and though hybrid cars are starting to become more popular, Americans have been slow to adapt to this new technology. A new invention out of the Middle Tennessee State University, though, promises hybrid car technology without having to buy a new car.

For five years, Dr. Charles Perry has been working with MTSU students to create an electric propulsion system that doubles a car’s fuel economy and can be installed for a reasonable price. He showed off a prototype of the system in a YouTube video which was posted to the MTSU YouTube channel a little less than two weeks ago. Already, they have four pending patents, and MTSU is exploring their options in commercializing this new technology.

Up until now, Americans as a whole have wanted better fuel economy, but at the same time, they have been wary of electric and hybrid cars. Maybe it was the price or technical bugs. Maybe they believed that buying a hybrid car would limit their options, or maybe they just hated the notion of trading in their powerful truck for an itty-bitty hybrid. Up until now, the idea has been to make whole new cars and make them appealing to the public, but with this new system from MTSU, drivers can have their car cake and eat it too. They can keep the car they love and upgrade its fuel economy for as little as $3,000.

It will probably be awhile yet until these systems are available for purchase, but if you are looking for a more fuel efficient vehicle now, Approved Loan Store wants to help! Fill out our secure online auto loan application here, 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!

After 30 Years, New Yorker Says Goodbye to Beloved Car Bluey

Back when I was in high school, I bought my first car. It wasn’t flashy or really anything special on the outside. In fact, I bought it used from my grandma, earning it the nickname of “The Grannymobile” in my family. On the outside, it was an unremarkable silver-grey sedan, and inside, the entertainment center didn’t even have a CD player. Instead, I had to hit up discount and vintage stores and buy cassette tapes, and I ended up with a very strange music collection including Prince’s “Love Machine” and Fats Domino’s “Ain’t That a Shame.” While it wasn’t exactly a teenager’s dream car, the Grannymobile was reliable, and I grew to love all of its quirks. I finally had to retire the Grannymobile after a rough road trip to Florida (and a rainstorm/mini-hurricane) left the bottom rusting through. It was a bittersweet goodbye. After all, this car had seen me through my high school and college years. It wasn’t just a way to get around. The Grannymobile was like an old friend who had seen me through good times and bad, and many of my best memories of those years wouldn’t have been the same without it.

This week, I was reminded of the Grannymobile when I read the story of New Yorker Harry Ettling and his old reliable car Bluey. Bluey, a 1982 Honda Civic, had lasted three decades and 170,000 miles with Ettling. Throughout Bluey’s life, the car survived getting totaled, having all four tires stolen, and then later getting flipped during the Washington Heights riots in 1992. Somehow, Bluey kept on running all these years until Ettling noticed the car floor was rusting out and knew it wasn’t safe for the road anymore.

After 30 years of service, Ettling didn’t want to just send Bluey off to be sold for parts. Instead, he hosted a full-fledged “funeral” for Bluey. He hired a Dixieland band to play in Bluey’s honor, and he dressed up in a black suit jacket and top hat. A floral wreath was even placed on the hood of the car, and when Bluey was eventually taken away to the junkyard, Ettling headed off to a local bar to continue the festivities.

What I really loved about this story was not only the impact of Bluey on Ettling’s life but also on Ettling’s neighborhood. Bluey certainly didn’t look like much, but this car became an icon with neighbors regularly stopping to get a picture with it. On the day of Bluey’s funeral, a New York neighborhood came together as a community to celebrate one of their own, even if it traveled on four wheels, and that kind of unity is wonderful to see in the headlines these days.

Ettling has said he’s not ready to get a new car because he needs “time to heal,” but we hope that when he is ready, he will consider going through Approved Loan Store. We want to get you the best terms on a new or used vehicle. Fill out our secure online auto loan application here, and keep up with the latest auto news by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube.

American Auto Makers Making Bank at Home

Recent numbers from the U.S. auto industry show that while sales are struggling internationally, auto sales here at home are still booming.

American auto buyers are spurred on by loosening auto loan requirements, increased quality in American-made cars, and a steadily improving economy. Also, new vehicles like the Dodge Dart are spurring excitement among car buyers, something that hasn’t been seen in recent years, and these new models are offering better fuel economy, even for their trucks and larger vehicles. LMC Automotive predicts that 14.5 million light vehicles will be sold in the United States this year alone, and 150 percent of Ford’s second quarter earnings came from U.S. auto sales.

Are these sales numbers sustainable? Probably not, but they are pretty amazing nonetheless. Even when the sales eventually plateau, I expect they will still pull in good numbers domestically. American auto makers have seen a comeback both in quality and sales, and car shoppers are much more likely to consider an American-made car now than they were just a few years ago. Plus, many drivers have held off on a new car for so long that their current ride is reaching the end of its road life, and soon it will make more sense to buy a new car instead of sinking more money into repairing the old one.

If you’re looking for a new or used car, now is the time to buy! Lenders are loosening their requirements, and Approved Loan Store wants to help you get the best deal possible on that new car! Fill out our secure online auto loan application here, and keep up with the latest news and trends in the auto industry by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Image: FreeDigitalPhotos.net