Tag Archives: bad credit loans

Gas Prices Still Major Factor for Potential Car Buyers

Gas has been something we’ve covered here in the past. Gas prices of late have been dropping, but for many months, it was one of the biggest topics on people’s lips. With the economy still slowly recovering, many people have taken the cost of filling up a car into consideration of purchasing a vehicle. There’s been a lot of debates over this subject, one that we covered was the idea of purchasing a hybrid over a normal car with the expectation to save money on gas. No matter which side you fall on, however, it’s no question that the average consumer thinks about the price of fueling up.

At least, that’s what Autonews is reporting on. According to a survey done by Consumer Reports, fuel economy is the leading factor that potential car buyers consider when they purchase a car. 1,702 car owners were interviewed and the numbers break down to 37 percent having fuel economy as their top concern. 17 percent put quality, 16 percent had safety, and 14 percent listed value as the top concern.

Jeff Bartlett, the deputy auto editor of Consumer Reports is quoted as saying, “These results make it clear that high prices are continuing to impact driver behavior and influencing future purchase considerations, this may be foreshadowing a market shift by folks seeking relief at the pump.”

Car sales have stay consistently high since the new year and are really benefiting since the auto bailout. It’s clear that buyers are back in the market with force. That being said, it’s also quite clear that the constant barrage of news about the high gas prices has made an impact. People are still looking to stay away from the gas stations.

Let us help you get into the car you want no matter the fuel economy. Fill out our application to speak with a representative of ours that can help get you into the right car for you. Be sure to like us on Facebook and follow us on Twitter to see the latest news in the financial world.

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Road Trips Returning as Airlines Increase Prices

News for the airline companies of late hasn’t been the best. The headlines have been negative for both the airlines themselves and for their customers. It’s been bankruptcies or charging more for checking luggage or just the introduction of fees just to store your bag in the overhead. Airfares themselves are on the rise. The cost of summer flights in the US are up 3 percent on average from the past year. That’s an 18 percent increase from 2010. It’s starting to be clear that flying is no longer the go-to solution for a cheap vacation.

The Car Care Council is reporting that the family road trip is coming back into style. It’s hard not to see why, especially when purchasing a plane ticket for a family can be almost four-times as expensive to just loading up the mini-van. Gas prices have also been seeing a steady decline over the last few weeks and appear to be dropping still as vacation season starts to come around. A recent survey from Mandal Research/Solutionz shows that 74 percent of respondents would much rather drive than fly to their getaway.

“Because flying is getting more expensive and gas prices are heading lower, more travelers are finding that driving their own car is the better alternative, “said Rich White, the Executive Director of the Car Care Council. “The bottom line is that travel by vehicle costs less, is more convenient, and is not as stressful as flying.”

Summer is just starting to heat up and this is the time to think about getting out. Are you ready to travel for this vacation season? Do you really want to pay for a flight that costs in the thousand dollar range, deal with the large crowds in the security check in, the hassle of getting to the airport and paying for the parking, and paying even more to check your luggage? Wouldn’t you rather pay a fraction of the cost to load the family into the car and still leave time to check out the world’s largest ball of yarn on the way to grandma’s house? Go ahead and give us some feedback in the comments.

Approved Loan Store is here to help put you and your family in the car they need to head out for a vacation, even if you have challenged credit. Fill out an application online and see how our representatives can put you in the car you need. Be sure to like us on Facebook, and follow us on Twitter to keep yourself current on the news coming out of the auto and financial industries.

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With Car Costs, Don’t Forget Insurance!

When someone is a first-time car buyer, the whole car shopping experience can seem very exciting. Everything is shiny and new, and it is easy to get caught up in imaging the wind in your hair while forgetting costly details.

One of the details that people sometimes forget when car shopping is the cost of insurance. Certain types of cars will have higher insurance costs, specifically flashy sports cars, and teen drivers will automatically have significantly higher insurance rates. Smart car shoppers should be keeping insurance in mind as they browse. That way, they aren’t caught off-guard and unable to afford their car payments and insurance.

CBS News recently published some tips for getting a lower insurance rate. While some of their suggestions are not feasible for everyone, such as moving to another city with lower overall rates, there are a few useful suggestions for every driver. You can view the original article here, and we’ve included our favorite tips below.

Safe Driving: Follow the rules of the road, and avoid tickets and accidents. Most insurance companies have discounts for drivers who don’t have tickets. Progressive Insurance also has a program where drivers can prove their stellar driving habits using a computer key which monitors the car’s speed.
Driving the Right Car: Sports cars might seem sexy, but they will jack up the price for insurance. Choose a practical car that won’t break the budget on insurance.
Know Your Discounts: There are lots of car insurance discounts available. Teachers, engineers, and doctors can often get special discounts, and students can get discounts for good grades.

Looking for a new car? Approved Loan Store can help, even if you have no credit or challenged credit! Fill out our secure online car loan application here, and keep up with the latest car buying tips from Approved Loan Store by liking Approved Loan Store on Facebook and following Approved Loan Store on Twitter.

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Buy a Car, Help the Economy!

Car shoppers looking to get a new set of wheels are doing more than upgrading their ride. They are improving the economy.

American auto makers have been posting record sales for their first quarter, and according to a report from Ward’s Automotive Group, auto purchases are exceeding a 14 million annual rate for every month so far this year. These numbers are translating into American auto makers reopening production plants, keeping their plants open during times of the year when they would be typically closed and keeping more Americans employed.

Car sales are often a good indication of how healthy the overall economy is. A decrease in car sales is an early indicator of trouble ahead since it shows that people don’t feel comfortable spending the money on a car. Let’s use an example of a consumer, John Smith. John Smith has an older car that has the occasional problem, but he doesn’t necessarily want to spend the money on a new car. Why wouldn’t he want a new car? Maybe he works a commission-based job and sales are slow, or his workplace is going through cutbacks.

Let’s say that John’s car breaks down, and it isn’t an easy fix. He has to get a new car, and in the meantime, he takes the bus to work. The bus runs late a couple of times, and John gets fired for tardiness. Now, John feels even less comfortable spending money on a car, but at the same time, he is still relying on public transportation to get to job interviews. John will be limited to jobs located close to public transportation and might miss out on higher paying opportunities because the daily commute is too difficult.

By not having access to a reliable car, John’s financial problems snowballed very quickly. On the other hand, studies have show that having access to a reliable car can lead to less dependence on public assistance and upward mobility in the work force. When all of these data and studies are added up, the conclusion is that Americans have yet another incentive to spring for a new car: They are improving the economy!

Are you looking for a new or used car? Are you worried that your credit isn’t good enough? Approved Loan Store can help! Fill out our secure online auto loan application here, and keep up with the latest trends in the auto industry by liking Approved Loan Store on Facebook and following Approved Loan Store on Twitter.

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Average Price of New Cars On the Rise

Earlier this week, we showed why buying a used car is smarter than buying new. The value of a new car will depreciate very quickly only a few years after buying it, so the owner will get a better return on a used car vs. a new car if they eventually have to trade it in. As it turns out, Forbes is talking about the new vs. used car debate as well. A few days after we published our blog, Forbes published an article about the rising average price of a new car.

According to Forbes, the average cost of a new car or light truck is $30,303. The average cost has gone up $1200 from 2011, making a new car an even pricier investment with less potential return. To be fair, the cost of used cars has gone up slightly as well, but in most cases, buying a good used car is still the best choice in the long run.

The good news for car shoppers is that Approved Loan Store has access to a wide inventory of used cars with vehicles to suit your specific needs. Whether you’re buying your first car or looking for something to accommodate a growing family, Approved Loan Store’s Special Finance Representatives will help you get into a car. Challenged credit is not a problem. Fill out Approved Loan Store’s 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 and following Approved Loan Store on Twitter.

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The Top Names in Auto Reviews, All in One Place

After years of searching Edmunds, Consumer Reports, and MSN Autos for the best cars on the market, consumers can now get the most relevant vehicle reviews all in one place.

TotalCarScore.com is being dubbed the Rotten Tomatoes of car sites, and the similarities are striking. When searching for a car on Total Car Score, readers will get the TCS review plus an average score based on reviews from some of the top review sites. Unlike Rotten Tomatoes, though, TCS users can customize the sources that TCS is using to calculate the score, so if they didn’t agree with MSN Autos’ review, they can view the average score without MSN Autos.

After browsing the site, I think that car shoppers are really going to love the features that TotalCarScore offers. Aside from reviews, there are links to the manufacturer, online forums for owners, the owner manuals, and comparison tests. We love it because Approved Loan Store has access to a wide inventory of cars, and no matter what make or model, we can find it. Once our Approved Loan Store customers have set up an appointment with their Special Finance Representative, they can go to TotalCarScore.com and figure out which makes and models could be right for them. That way, they can come into their appointment prepared, and they can get into a great car quicker!

Are you ready for Approved Loan Store to get you approved? Fill out our secure online auto loan application here, and keep up with the latest auto news by liking Approved Loan Store on Facebook and following Approved Loan Store on Twitter.

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When It Comes to Cars, Buying Used is Buying Smart

In the first quarter of 2012, car sales are still on the rise with used car sales making up a large percentage of those sales, and according to Business Insider, the trend towards used cars is a smart choice.

Yesterday, Business Insider published their top 10 money mistakes “that everyone makes.” Most of the usual mistakes were on the list like paying a large interest rate on a credit card that gives miniscule cash rewards towards savings or buying the newest gadget on the day it goes on the market. Number 2 on the list, though, was buying a new car instead of a high-quality used car.

If I had to guess, I think consumers feel a bit safer buying a new car than a used car because a used car has history. They are afraid of buying a car that has hidden problems, or they have a certain level of pride that they don’t want to buy a used car.

Here is why Business Insider’s advice is completely right.

First of all, the value on a new car will drop very quickly. Car shoppers will pay through the nose for a new car, and if they go to trade it in even a few years later, they will get a fraction of what they initially paid. A new car is not a great investment. Second, there are so many fantastic used cars available at low prices, and car buyers can get the vehicle checked out by the dealership or a third party if they still feel unsure about buying used.

Approved Loan Store has access to a large inventory of used vehicles, and with our special financing programs, we can help car shoppers get into a great car, even those with challenged credit. Fill out Approved Loan Store’s auto loan application online here, and keep up with the latest auto news by liking Approved Loan Store on Facebook and following Approved Loan Store on Twitter.

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Should I Buy a Hybrid?

The rise of gas prices have lead car drivers to start making more educated choices in their choices. Hybrids are really seeing a surge in sales due to people looking to keep away from those high prices as much as possible. That popularity is causing many buyers to ask the question, should I buy a hybrid? The San Francisco Chronicle offers advice for these very people.

Hybrids have gained this upswing in sales because it’s thought that they will save money when gas prices rise. The cars SF Chronicle uses to show the difference is the 2012 Honda Civic Sedan and the Civic Hybrid. The Sedan has a price of $15,995 and gets around 28 miles per gallon in the city and 39 on the highway. In comparison, the Civic Hybrid’s price is $24,200 and is 44 miles per gallon in the city and highway. After doing some math based on the average miles driven by someone ages 20-34 (15,098 miles a year) the conclusion shows that the fuel cost is indeed lower on the Hybrid by $455. The problem with that number is that the difference in cost is still $8,205. That means it’ll take 18 years for the buyer to make up the lose.

That doesn’t bode too well for the idea that hybrids save. It’s unrealistic to expect a car to last 18 years. There’s other things to take into account, however. The government used to have tax incentives to encourage purchases of hybrids. This was done more then the idea was new though, and since the car maker has sold more than 60,000 vehicles, that incentive has gone. As of December 31^st, 2010, that credit is no longer eligible. There’s one exception however, and that’s the plug-in hybrids. They still offer credit of up to $7,500 but be warned the vehicle tends to be rather pricey.

That brings us to the new generation of the hybrid, the plug in hybrid. While normal hybrids use a combination of a gas engine and electricity, the plug in relies on batteries. While keeping gas out of the equation, they are subject to shorter ranges, only having about 50 to 100 miles in them before needing a recharge. There is a gasoline-powered engine, however, that does take over once the battery is dry. What to keep in mind when thinking of purchasing a plug in to save on gas costs is that they do come with a hefty price tag. The 2012 Chevy Volt for example is $39,145. The tax incentive brings that down to $31,645. The traditional Honda price is half of that.

Hybrids do a good job of making the driver feel good about the environment. In a world that is starting to put the green moniker on everything they can, driving a hybrid gives a sense of aiding to make the world a better and cleaner place. Hybrids certainly are good for the environment, but in the problem of if they are worth the extra cost to cut down on gas prices, they aren’t so good. It’s up the consumer to see if this is a good enough value for themselves, but a hybrid will not save you overall at the pump for the time being.

Wanting to get yourself a new or used hybrid anyway? Don’t worry if you have challenged credit, here at Approved Loan Store, we work with people struggling with bad credit to put them in the car, or hybrid in this case, they want. Go online to fill out the application to see how our staff can help you. To stay current on all the latest news and advice pieces, like us on Facebook and follow us on Twitter.

Missing Air Bags, Other Hazards Face Private Car Buyers

The price might be right for cars on Craigslist, but car buyers could be putting themselves at risk for hidden problems like missing airbags.

Today, a CBS affiliate in Oregon ran a story about how used car buyers need to be wary of missing airbags, particularly with private sellers. Sometimes the airbags have been stolen, and other times they were deployed and never replaced. Car buyers can’t even trust that the airbag light on the dashboard will indicate a problem. Thieves and scam artists have found a way to trick the airbag system so that the car buyer has no idea anything is wrong until it is too late.

Doug Hansen, an airbag repair technician, was interviewed in the report, and he had a chilling story for any car buyer, especially for parents buying a car for their teenagers. Hansen recounted, “We had a gentleman buy a car for his daughter going away to college. Bought it in a parking lot from somebody he met on Craigslist, and they brought it in and it was about 29-hundred dollar repair bill to make the car whole again, safety wise. The system was a fraud. His good deal wasn’t such a good deal anymore.”

Buying a car through Craigslist or a private buyer might seem like a bargain, but these hidden problems could end up costing thousands of dollars in repairs. In an accident, they could also lead to injuries or worse, the loss of life. You don’t have to take a chance to get an affordable used car. Approved Loan Store can help, even if you have challenged credit or no credit. Fill out our secure online auto loan application here, and keep up with the latest news and consumer education by liking Approved Loan Store on Facebook and following Approved Loan Store on Twitter.

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Outrageous Craigslist Car Ad Becomes Internet Sensation

What does it take to make a $700 1995 Pontiac Grand Am into one of the most wanted cars on the internet? Simply make the greatest Craigslist ad ever.

On Wednesday, Jalopnik posted what they claimed was “the best Craigslist car ad ever.” The ad, posted by Joe Strachila, was for a 1995 Pontiac Grand Am GT, a fairly run-of-the-mill used car. The ad, created by Joe’s lifelong friend Kyle Miller, was anything but ordinary.

I thought I had seen just about everything on the internet until I saw the ad’s headline, “1995 Pontiac Grand Am GT – AKA – JESUS TAP-DANCING CHRIST.” The splashy bright-yellow and blue ad claims, “Never in your life has a car made you so appealing to the opposite sex…EVERY PREVIOUS OWNER HAS HAD A BEARD. This was the car that broke Pontiac. When it came off the production line, each person in the company had a collective aneurysm from the visual masterpiece with which they had blessed humanity, and gave up entirely.”

Of course, the question I had was that if the car was so amazing, why was the owner selling it? The answer was that he wasn’t man enough to handle it. “I tried to be,” he laments.” “I grew my beard to unreasonable lengths, trimmed my fingernails with belt sander, ate nothing but lumber for 6 straight days and knocked a polar bear unconscious. The car chuckled at my failed attempt at manliness, and became so bloated with testosterone that it literally blew a head gasket. Oh right, you’re definitely going to have to fix that…”

I seriously doubt that any car, much less a car with a blown head gasket, could live up to the hype of this Craigslist ad. Still, I have to give the seller credit for creativity. He took a $700 1995 Pontiac Grand Am and turned it into an internet sensation, and now, he is flooded with offers for the car. Supposedly someone even offered $10,000 for the honor of owning “Jesus Tap-Dancing Christ.”

Only one person can get Joe’s 1995 Pontiac Grand Am, but if you’re looking for a car that will blow your mind even if you don’t have mind-blowing credit, Approved Loan Store can help! Fill out an auto loan application here, and keep up with the latest in auto news by liking Approved Loan Store on Facebook and following Approved Loan Store on Twitter.