Tag Archives: auto

Auto Loan: New NHTSA Proposal Requires “Black Box” Devices in All Motor Vehicles

Today, the National Highway Traffic Safety Administration announced a proposal that starting September 1, 2014, automakers would have to install event data recorders, or EDRs, into all light passenger vehicles. This announcement has been followed with much hand-ringing and unnecessary panic over privacy violations and “Big Brother” government. In reality, this isn’t earth-shattering news, and because there is some misinformation and paranoia, we wanted to take a moment to separate fact from fiction.

First, EDRs have been in cars for almost 20 years. These “black boxes” are not scary new technology. Currently, over 90 percent of new vehicles have EDRs, and they are used in the same way as a “black box” in an airplane, to determine the cause of a crash. Among other factors, they will record the speed the vehicle was traveling in the event of a crash, the time from the beginning of the crash at which the maximum change in forward crash speed occurs, whether the driver applied the brake, whether the driver was wearing their seat belt, and the percentage of the engine throttle.

Second, EDRs are not GPS devices. This is not a means for the government to keep tabs on drivers. EDRs are strictly devices meant to collect information in the event of a crash. They do not record driver conversations or any other personal information, so there is no need to panic that anyone is listening in.

Finally, the information contained on an EDR belongs to the driver. This data can be potentially used in a court of law if it pertains to a car crash, but otherwise no one will ever seen this data except the owner of the car.

If you have any further questions about the proposal, click here or contact the NHTSA at 1-888-327-4236.

Are you looking for a new or used car? Approved Loan Store can help you! Good credit, bad credit, no credit, we will work to get you in the car you want at terms you can afford! Fill 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!

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Car Loan: New Models, Discounts Sell More Electric Cars in November

Getting consumers to adapt to new technology is tough, and the electric car has faced its fair share of challenges. Sales numbers for electric cars in November, however, bode well for the future of the electric car.

November sales numbers from Maxim Group show that car dealers sold 7,600 electric cars in November alone with a yearly total so far of 47,500. Right now, projections predict that dealers will sell 56,000 electric and plug-in hybrid electric cars by the end of 2012.

Industry analysts attribute the electric car’s success in 2012 to a variety of new electric vehicles as well as deep discounts and incentives on existing models. Nissan has worked to make the Nissan Leaf more affordable, and Chevy has offered discounts adding up to $10,000 in savings on the Volt. Some of the newer models have really led the pack, though, with Ford selling 1,259 of the C-Max Energi, a vehicle that was only just introduced in November. Those numbers are very strong considering that the Chevy Volt sold 1,519 units and the Toyota Prius sold 1,766 units in November.

The demand for electric cars is only going to go up, especially as the economy continues to recover and consumers can better afford electric cars. Right now is an exciting time for the auto industry as they move more and more towards electric and hybrid vehicles. Soon, consumers will be able to pay less at the pump and lessen our negative impact on the environment.

Whether if you are looking for a more fuel-efficient car, a car for the family, or just something fun and sporty, 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 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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Bad Credit Auto Loan: Why Shopping Around Dealerships Can Hurt Your Credit Score

When making a major purchase like a new car, most people shop around and find the best possible deal before making a decision. They don’t want to look back on their car purchase and think that they could have found the same car elsewhere for less.

Unfortunately, not all car shoppers know that running their credit again and again at different dealerships will hurt their credit score and make them look riskier to lenders. Hard inquiries will dock a credit score by several points and will stay on the credit report up to 2 years. The reasoning is that this consumer has applied for an auto loan at all these dealerships but did not get a loan whether by choice or rejection by lenders. This is why we recommend that serious car buyers should not apply for a credit card or any other kind of loan or credit before going in to buy a car.

What makes Approved Loan Store’s auto buying program different? Our three-step process gives our customers an advantage over other car shoppers because our customers don’t have to shop for a dealership. First, they fill out our secure online auto loan application. Second, they receive a call from an Approved Loan Store representative who reviews the loan application and schedules them for an appointment with an Approved Loan Store dealership nearest to them. Finally, they meet with their Approved Loan Store Special Finance Representative, and their Special Finance Representative helps them find the car they want at rates they can afford.

Are you ready to stop searching? Let Approved Loan Store help you get into a car today! 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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New Car Financing: Recap of the LA Auto Show Premieres

Last week, the Los Angeles Auto Show premiered many new concept cars as part of the show. Now, concept cars are always fun to browse, but they won’t be available at your local dealership. This is why we were more interested to see the production vehicle that debuted at the show. They might not have a beak, a bike from TRON, or whatever this is, but these are cars that our customers could be test driving very soon. Here is a quick rundown of some of the show’s biggest production vehicle premieres.

2013 Fiat 500L – The new Fiat keeps the Fiat 500’s charm and gives the driver over 2 more feet of interior space. Who knew a car could so cool and yet cute as a bug?

2013 Porsche Cayman – Porsche claims that the new Cayman can go from 0 to 60 mph in 5.4 seconds. We won’t be able to get behind the wheel until spring of next year, but this lighter and more powerful Cayman definitely has our attention.

2013 Toyota RAV4 – Toyota was really amping up the RAV4’s premiere with promises of “a new generation” of car that embodies “sophistication and strength.” Not much really changed with the RAV4 at least from first glance, and it seems that the auto critics mostly agree. Forbes was more impressed and said that the changes made to the RAV4 were a huge improvement, though even they said it isn’t “oozing excitement.” The 2013 RAV4 will be available January 2013.

2014 Kia Forte – Showing up in cool blue, the 2014 Kia Forte impressed Autoweek which said the Forte proves that cars in its class and price range don’t have to be “bland.” The buzz is that the Forte is a real competitor amongst the new compact sedans.

Readers, we want to hear from you! Did you check out the LA Auto Show coverage? What were your highlights? Leave us a comment below, and tell us what you think!

Are you ready to get into a car today? Approved Loan Store can help, whether if you’re looking for a new or used car! 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 make sure to like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

New Car Financing: And the 2013 Green Car of the Year Winner Is…

Back in October, we brought you the nominees for the 2013 Green Car of the Year Award and our predictions for this year’s winner. The winner was announced last week at the Los Angeles Auto Show, and while the Ford C-MAX was not victorious, Ford still went home very happy.

The 2013 Ford Fusion was the winner chosen by Green Car Journal, beating out tough competitors like the Dodge Dart Aero, Ford C-MAX, Mazda CX-5, and Toyota Prius. With an estimated 47 mpg in city, highway, and combined driving, the Ford Fusion is a fantastic choice for drivers looking for the best fuel economy. Additionally, Ford is releasing a plug-in hybrid version of the Fusion early in 2013 called the Ford Fusion Energi.

This week, Approved Loan Store is running a poll on its Facebook page, and we want you to weigh in! Which car do you think should have been named Green Car of the Year? Do you think Green Car Journal got it right, or was your money on the C-MAX? Go to Approved Loan Store on Facebook or click here to cast your vote!

Are you looking for a more fuel efficient car? Approved Loan Store can help! Good credit, bad credit, no credit, we have new or used cars to fit your needs! 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!

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!