Tag Archives: Approved Loan Store

Compact Cars: Trading Down is Trading Up

A recent study released by J.D. Power and Associates had some interesting findings about car trade-ins and how people view a vehicle downsize as a trade up.

According to the study, more than a quarter of drivers trading in their car opted to go for a smaller vehicle while only 13 percent chose to go with a larger car. Compact cars aren’t only getting love from trade-in drivers, though. Across the board, more people are buying compact cars this summer.

Why is there such an interest in smaller cars? Well, compact cars today offer great features that at one time were only available in larger vehicles. Getting a compact car no longer means sacrificing comfort or new car technology. Cars like the Dodge Dart have digital dashboard displays, customizable interiors, and other high-demand add-ons like the wireless iPhone charger. To make the deal sweeter, compact cars tend to get better fuel economy than their larger counterparts, making it a greater value in the long run.

No matter what kind of car you are looking for, from compact cars to pick-up trucks, Approved Loan Store wants to help you! Good credit, bad credit, no credit, we work to get the best rates possible for our customers. 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!

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“Crash Course” Class Makes Better Teen Drivers

At the BSR Accident Avoidance course, teens learn to stay accident free by testing their nerves and reaction times behind the wheel.

The “crash course” driving class is quickly gaining popularity with teens and parents alike. Through practical behind-the-wheel instruction, teens learn to stay calm in stressful scenarios like keeping control in bad weather or if the car leaves the road. They test their reflexes and nerves in a controlled environment so that when they are in that situation, they will be less likely to get in an accident. Driving instructor Don Ruschman explained, “In those few seconds, an untrained driver will most often rely on their instincts. The problem is that in driving under stress, our instincts are almost always wrong.”

Some critics of the class claim that the teaching methods will make teens more reckless, but for the most part, the course has been well-received. Even teens that would typically drag their feet with a traditional drivers ed course are signing up because of the cool factor involved. Personally, I see no downside to the course. Motor vehicle accidents are still the leading cause of death amongst teens, and newly licensed drivers are some of the highest risk drivers on the road. If it saves lives and produces better teen drivers, then I think it is something that everyone can get behind.

Are you looking for a new or used car for your teenager? Approved Loan Store wants to help whether you have good credit, bad 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!

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TOMY’s New Car Seat Gives Parents Peace of Mind

For a new parent, safety is of the utmost importance for their child, and when it comes to car safety, it is too easy to make a rookie mistake. Is the car seat installed properly? Will my child stay securely in his or her seat? What if I accidentally leave my child in the car? A new car seat from TOMY, along with an accompanying alert system, wants to help parents keep their child safe and secure in the car.

The First Years IAlert system links the car seat to the parents at all times. When activated, the car seat and child’s current status is displayed on the parents’ smart phone. It measures the child’s temperature and how long they have been sitting in their car seat. Additionally, it sends alerts if the car seat is improperly installed and if the child climbs out of the car seat. This way, the parent always knows what is going on with their child and the car seat, even if the child is alone in the backseat.

I know a lot of young parents, and driving with their child in tow is usually a time-consuming and stressful ordeal. Not only do they have to deal with diaper bags, bottles, and toys, they also have to worry about the car seat coming unloose, their child getting left in the car, or any number of other problems. I love the First Years IAlert because it perfectly fits the parents’ needs, providing an alert if anything is wrong and assuring the parents when everything is perfectly fine.

Are you looking for a new family car? Approved Loan Store wants to help you get into a great 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 subscribing to Approved Loan Store on YouTube!

Will New Self-Cleaning Coating Mean the End of Car Washes?

Summer vacation holds a lot of great memories for me. I remember running around the neighborhood, playing baseball in someone’s backyard, or piling in the car for a trip to the local pool. Sometimes in the midst of vacation, though, my parents would rope my sisters and me into doing, heaven forbid, some chores. We spent many afternoons standing on a hot driveway with the garden hose and a couple of sponges, scrubbing down the family car.

Well, it seems that thanks to new technology, the traditional car wash might be a relic of the past. Researchers at the Netherlands’ Eindhoven University of Technology reported that a newly developed car coating will protect the car from small scratches as well as provide “self-cleaning” for the car. Soap and sponges or rags won’t be needed. Instead, the owner can simply hose down their car, and dirt will be washed away without extra work or effort.

If you are saddened that future generations will not understand Karate Kid’s wax-on-wax-off, don’t worry, and if a self-cleaning car sounds like a dream come true, curb your enthusiasm. The self-cleaning coat will probably not hit the market for at least another 6 to 8 years, and when it does, it is uncertain whether it will catch on. Until then, kids across America will still get the experience of washing the family car on a hot summer day.

Are you looking for a new or used car? Good credit, bad credit, no credit, 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!

Image: FreeDigitalPhotos.net

Four Ways to Avoid Car Thieves

No one expects to be the target of a car thief, but in 2010, over 700,000 cars were reported as stolen. Every car owner should know the proper steps to take to decrease the chance of car theft, but most people do not. At Approved Loan Store, we want to get people into the car they want, and we want them to hold onto those cars as well. For that reason, we wanted to share some tips from The Car Connection for deterring car thieves.

Pack up laptops, iPads, and other electronics: Around Christmas time, most drivers will keep their shopping bags out of sight for car thieves scoping for a target. Year-round, it is smart to store any electronics left in the car in the glove compartment or under a seat, or if you can, leave the laptop or iPad at home.

Park smart: Always park in well-lit areas, and watch for how many people walk or drive by. If the area gets a lot of foot or street traffic, a car thief will feel less comfortable trying to break into the car.

Get a car alarm (and advertise it): Get a real-time vehicle tracking system for the car, and make sure to keep it active. Also, a car thief might think twice about stealing a car if they know the car has an alarm system. If an OnStar system comes with a window sticker, keep it in the window. A thief might be deterred just knowing that the car is protected.

Be extra careful with popular cars: Popular cars are easier to steal because they blend into traffic, and their car parts are in higher demand. Obviously, it doesn’t make sense to tell drivers not to buy popular cars, but if drivers follow the other three steps, their car is less likely to be targeted by thieves.

Are there any tips you would add to The Car Connection’s list? Tell us below in the comments section!

If you are looking for a great new or used car, 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!

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Road Rage, Texting Problem with American Drivers

According to a new survey from Harris Interactive, more Americans need to take a breath and put down their phones when they get behind the wheel.

The survey looked at American drivers who are employed full-time and examined their behaviors on the road. As it turns out, women were slightly more likely to admit to road rage than men with 61 percent of women saying they had experienced road rage compared to 56 percent of men, and drivers between the ages of 25 and 34 experienced road rage more than the 55 and older respondents.

If this wasn’t discouraging enough, 30 percent of survey respondents admitted that they have texted while driving. States across the country have passed laws against texting while driving, and shows like Fox’s Glee have done episodes and PSAs on the subject. Still, drivers continue to text and drive undeterred by the obvious dangers.

At Approved Loan Store, we want all of our readers and customers to stay safe on the road, and there are simple steps to alleviate stress while driving! Turn off your cell phone so there isn’t any temptation to answer it while driving, and in the summer heat, stay cool and hydrated to avoid road rage. Be calm, be careful, and stay safe this summer!

Are you looking for an auto loan? Approved Loan Store wants to get you into a new or used car! Good credit, bad credit, no credit, we want to help you get 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 by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Image: FreeDigitalPhotos.net

Free Wedding with Oil Change? Dealership Wedding Makes Headlines

In Wichita, a young couple walked into a car dealership and left with a truck, a car, and a wedding.

Jada Miller and Shane Starlin weren’t even planning to get married when they walked into the Suzuki of Wichita. They were looking for a truck and a Suzuki Kizashi, and as they were shopping, their salesman Randolph Warren commented on the lack of wedding rings. Jada bluntly replied that they weren’t married because Shane hadn’t asked her. After some playful joking around, Shane said he didn’t know a minister, and Randolph volunteered that he was an ordained minister and could perform the ceremony at the dealership. Jada and Shane didn’t immediately take him up on the offer, but when they returned to get a tire replaced, they took Randolph up on his offer.

The dealership transformed the showroom into a wedding chapel with a flowery wedding arch and a white walkway. The wedding music was “Bless the Broken Road” by Rascal Flatts and songs by the a cappella group Intensity. The dealership even arranged for the cake, a baby-blue and white cake with wedding ring cake toppers. While it was unconventional, there was a genuine sweetness to the whole event.

Jada and Shane’s story has been covered by the Wichita Eagle and Jalopnik among other news sites, and the wedding highlights video is available on YouTube. I think what draws people to the story is the spontaneity of it. Wedding culture has turned into a monster of satin and lace that seemingly feeds on piles of money. For many people, weddings are stressful affairs that lose the celebration of love in the midst of family politics and fighting over the budget. Jada and Shane’s wedding was simple, fun, and low-maintenance while still being memorable for everyone involved.

While Approved Loan Store hasn’t hosted any weddings yet, we continue to do what we do best: get customers into cars. Good credit, bad credit, no credit, we want to help you get into a great new or used car! Fill out our secure online auto loan application here, and keep up with the latest from Approved Loan Store by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Original Image at Suzuki of Wichita

Two-Face Car: State Farm Builds Monster Classic Car

Last weekend, The Dark Knight Rises broke box office records and won critical acclaim as well. America has Batman on the brain, including car enthusiasts, so Jalopnik was very excited to find a classic car rebuilt to resemble one of Batman’s most famous villains.

Harvey Dent, also known as Two-Face, is an iconic villain, and even people who don’t read comic books know Two-Face. One side of his face is handsome, and the other is hideously deformed. Now, State Farm needed a new way to train classic car insurance appraisers so they could tell the difference between a good restoration and a shoddy one. They wanted something that would be memorable for the trainees, so instead of just bringing in a good classic car and a bad classic car, they build a classic car with two “faces.”

On the driver’s side, this 1968 Camaro has been meticulously refinished with an off-white paint job. On the passenger’s side, the car is a patchwork of parts covered in flashy red, white, and blue paint. The brakes, wheels, and cylinder heads don’t match, but the car does its job. Side by side, it isn’t hard to see the difference between the good restoration and the bad restoration.

Unfortunately, there is a bit of a downer for anyone thinking about getting their hands on State Farm’s Frankenstein of classic cars. The “Harvey Dent” car is not exactly built for the road. It can drive well enough to use in training or show off at an auto show, but personally, I wouldn’t feel comfortable driving it out on the road.

Approved Loan Store might not have the “Two-Face” car, but we love to get our customers into the new or used car of their dreams! Good credit, bad credit, no credit, we want to help you! Fill out our secure online auto loan application here, and connect with Approved Loan Store on Facebook, Approved Loan Store on Twitter, and Approved Loan Store on YouTube!

Image Credit: State Farm on Flickr

Auto Loan vs. Cash: When a Loan is the Better Choice

Last Friday, guest blogger Lance from “Budgets are Sexy” was featured on MSN Money and stirred up some controversy with the headline “Why a car loan can beat paying cash.” As expected, many cash-only advocates got very upset and all but called for the authors head to be served on a silver platter to Dave Ramsey. We wanted to take a quick look at why he took out a car loan instead of paying cash and then open it up to our readers for feedback.

First, he wanted to get an installment loan on his credit history. At this point, he had several credit cards which he paid off regularly and on-time, and he did not take out any student loans in college. With such a sparse credit history, he thought that an auto loan that was paid on time would make a good addition to his credit report.

Second, he got a 0.9 percent interest rate for 36 months. Some readers didn’t know why he would pay any interest rate on a purchase he could afford to pay with cash, but considering that the interest he was earning on his savings account covered the additional interest on the car loan, it was a smart choice. Under these circumstances, he built up his credit history, and it didn’t cost him anything extra.

Finally, he appreciated not depleting his funds to pay for the car outright. By taking out the loan, he could still maintain his emergency fund in case of job loss or medical emergency. Most personal finance experts recommend keeping an emergency fund with enough money to live on for six to eight months, and thanks to the loan, he could keep his six-month emergency fund.

What do you think about his decision? If you could pay for a car in cash, would you choose to take out a loan? Leave us a comment below, and tell us what you think!

Are you looking for an auto loan? Approved Loan Store can help! Fill out our secure online auto loan application here, and get connected with Approved Loan Store on Facebook, Approved Loan Store on Twitter, and Approved Loan Store on YouTube!

Image: FreeDigitalPhotos.net

Business Insider: In the Auto Industry, Subprime is Not a Dirty Word

Here at Approved Loan Store, we work with customers with all sorts of credit situations. While we help out plenty of customers with good credit scores find a better deal, our specialty has always been working with consumers who have subprime credit.

Now, the term “subprime lending” has become a loaded term because people associate it with subprime mortgages, but there are enormous differences between the subprime auto and mortgage industry as outlined this week in an article by Business Insider.

There are two main reasons why subprime auto loans are not the same risk of subprime mortgage loans. First, consumers default less on auto loans than on mortgages. Car repos happen much quicker than foreclosures, so consumers feel compelled to keep up with their payments. Besides that, a car is necessary for many people to make it into work, especially in areas of the country without public transportation options. If they don’t have a car, they have to rely on other people for a ride to work, to the grocery store, or to go out on the town. Most people will make cuts where they need to so they can maintain their car and their independence.

Second, subprime auto loans are not nearly the same risk for lenders as subprime mortgages. This is why so many of Approved Loan Store’s lender partners have been able to offer these auto loans to consumers with very low credit scores while they would deny that same consumer for a credit card, a mortgage, or a personal loan. For this reason, auto loans are a great way for consumers with challenged credit to re-establish themselves and build up a positive payment history. We call this the “Everyone Deserves a Second Chance” effect.

Are you looking to get into a new or used vehicle? Approved Loan Store wants to help, even if you have bad credit, good credit, or so-so credit! Fill out our secure online auto loan application today, and keep up with the latest in credit and 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