Tag Archives: bad credit

Tesla Announces Loan Repayment, Receives Rave Reviews

Depending on which news media outlet you listen to, Tesla Motors is either an epic failure waiting to happen or a smashing success. This week, however, Tesla’s detractors will have to eat their words as the divisive auto maker will be repaying their Department of Energy loans as early as today.

The loans weren’t scheduled to be paid off for another nine years, but Tesla CEO Elon Musk announced via Twitter on Monday that, “Given govt loan repayment this week (prob Wed), Supercharger update will be next week. Work continuing independent of announcement.” With the loan being paid off early, it is estimated that taxpayers will see a $12 million profit from the loan.

May has been a good month for Tesla. They earned $562 million in their first quarter, $70 million more than the revenue estimates, and it was their first profitable quarter. Besides their financial success this quarter, Consumer Reports gave the Tesla Model S a score of 99 out of 100, the highest score any car has ever received from Consumer Reports.

The Tesla still has some hurdles to overcome including a price that is still a bit higher than some car buyers are willing to pay. Also, charging stations are still not prevalent across the country. Still, this is a big step forward for Tesla and for electric cars in general.

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Earth Day: Hybrid Wheels Improve Fuel Efficiency

When automakers talk about improving fuel efficiency, they are usually planning to cut vehicle weight or designing a new engine. Lacks Enterprises presented a new way of improving fuel efficiency last week at the SAE World Congress by, quite simply, re-inventing the wheel.

The Evolve Hybrid Wheels are strong yet lightweight wheels designed for aerodynamic efficiency. James Ardern, the director of business development at Lacks Wheel Trim Systems, explains, “We have learned that wheels are contributing significantly to the fuel economy of a vehicle. The things right next to the wheels, the tires get tested. Consumer Reports, for example, has shown that better, more efficient tires can raise a vehicle’s mpg rating by one or two ticks, and Lacks has test results that show that the wheels – at least the Evolve wheels – can do the same.”

Lacks Enterprises has already tested their Evolve Hybrid Wheels on a number of vehicles including the Ford Focus SE. Their test on the Focus found that the wheels improved the city mpg by 0.4 mile per gallon and the highway mpg by 1.1 mile per gallon.

There will be more testing this summer and into the fall, and as of now, they have not announced when the Evolve Hybrid Wheels will hit the market. Still, this is an encouraging development just before Earth Day on Monday, and hopefully more automakers and designers will think outside the box in making new vehicles more fuel efficient and eco-friendly.

Earth Day: Nissan, New York City Launch Plan for “Taxi of Tomorrow”

April 22 is Earth Day, and to celebrate, New York City is teaming up with Nissan to put the Taxi of Tomorrow on our city’s streets.

Nissan has donated six Nissan Leafs to the city of New York as part of the city’s plan to transition all taxis to electric vehicles. Over the next few years, they will test out the Nissan Leafs, pinpoint any needed adjustments, and find the best way to transition one-third of the fleet to electric vehicles by the end of the decade.

Nissan executive Joe Castelli was optimistic about the future of the program, stating, “Following the selection of Nissan NV200 as New York City’s Taxi of Tomorrow, our relationship with the city provides us the ultimate proving ground to conduct this Leaf taxi pilot to help optimize the use of electric vehicle technology for future application.”

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Image courtesy of Stuart Miles / FreeDigitalPhotos.net

Kia Web Series Features Real Moms, “Everyday Answers”

Automakers are making a concerted effort to appeal to families looking for a new vehicle that will suit their needs. Chrysler is redubbing the “soccer mom” the “supermom,” and the 2014 Honda Odyssey will come with a convenient built-in car vacuum for cleaning up stray Cheerios and animal crackers. Kia is the latest to reach out to parents, particularly moms, with a new online-only series featuring The Game and Sister, Sister star Tia Mowry.

“POPSUGAR Circle of Moms, Everyday Answers” will be available weekly on POPSUGAR.com with eight total episodes. Each episode will feature Mowry and other moms taking care of everyday errands and other family tasks using the 2014 Kia Sorento CUV. They will also share personal parenting stories and offer tips and advice to new and veteran parents alike.

Kia has already announced that the show will showcase the Sorento’s “family-friendly” features including fold-down third row seating, its Blind Spot Detection System, and more. Michael Sprague, executive vice-president of marketing and communications at KMA, spoke enthusiastically about the partnership, saying, “By partnering with POPSUGAR Circle of Moms, people will be able to see how the Sorento works in real-world scenarios for all types of everyday family activities.”

Annette Gallo, Vice President of Integrated Marketing at POPSUGAR Inc, was similarly excited, saying POPSUGAR was “thrilled” about the partnership. In a joint press release with Kia, Gallo stated, “We continue to push the boundaries of campaign creativity…and this campaign is another great example of that mission.”

“POPSUGAR Circle of Moms, Everyday Answers” is available weekly at POPSUGAR.com.

Whether if you are looking for a car for yourself or your growing family, Approved Loan Store wants to help you get a car you want at terms you can afford! Get started today by filling 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!

Chrysler Design Chief Teases Future Minivan

Chrysler has yet to announce the future for their minivan and whether it will be released as a Chrysler Town & Country or a Dodge Caravan for the 2015 model, but Chrysler design chief Ralph Gilles has made it clear that this will be a car for the new-age mom.

“I think the new generation is ‘supermom,’” Giles said in a recent interview. “I think consumers see minivans as a tool to be the ultimate mother, so we’re designing it for that.” Giles also pointed out that Chrysler has a large number of female engineers and designers working on the new minivan and says that their own “real-life experiences” have influenced the vehicle’s features and design.

The 2013 Chrysler Town & Country starts at around $30,000 and comes with standard DVD player and leather trim as well as Stow ‘n Go seating. By comparison, Dodge can boast that the Caravan is the best-selling and most awarded minivan ever with a starting price around $19,990.

Readers, what do you think? Would you rather Chrysler picks the Chrysler Town & Country or the Dodge Caravan? Leave a comment below, and let us know what you think!

Are you ready to get into a new or used car today? Approved Loan Store wants to help YOU! Good credit, bad credit, no credit, we will work with you to get a car you want at terms you can afford! Get started today by filling 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!

Chevrolet Spark Upgrades With New DC Chargers

Ever since electric cars hit the market, they have had a tough time taking off. At first, it was the price hindering sales, but recent discounts and tax incentives have made them more affordable. When they became affordable, people started questioning their safety, and rumors still persist that electric cars are significantly more dangerous than gas-driven cars despite automakers’ steps to make them safer. Yet another real problem plagues the electric car, however, and that is how long it takes an electric car to charge.

Right now, alternating current (AC) energy has to be converted to direct current (DC) before the energy can be stored in car batteries. The conversion process slows down battery charging, and it takes longer to charge up electric cars. If a car could power up with a DC charger, it would speed up the charging process.

With that in mind, General Motors announced this week that the new Chevrolet Spark will have the standard AC port as well as two DC ports. Since DC chargers are not as readily available, a number of companies are stepping up to make them more available, though Eaton and Fuji Electric do have DC chargers available on the market at this time.

Readers, we want to hear from you! Does GM’s announcement make you more likely to test-drive the Spark? Would a faster charging time make you consider checking out other electric cars? Leave a comment below, and let us know what you think!

Are you ready to get into a new or used car? Approved Loan Store wants to help YOU! Good credit, bad credit, no credit, we will work with you to find a car you want at terms you can afford! Get started today by filling 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!

New 1.5-Liter EcoBoost Engine for 2014 Ford Fusion

Changes are coming for the 2014 Ford Fusion including a new engine and six powertrain options.

Currently, the Ford Fusion is equipped with a 1.6-liter EcoBoost engine, but soon the engine will be replaced with a 1.5-liter EcoBoost engine. This might not seem like a major change, but it has two big advantages. First, Ford will side-step a tax which affects Fusion sales in China, improving their bottom line. Second, it will improve fuel efficiency in the Ford Fusion. As an added bonus, Ford can also use the 1.6-liter engines in the Escape and other vehicles.

Last year, Ford announced other changes to engines in some of its more popular models. The 2014 Ford Fiesta will be getting a 1.0-liter EcoBoost engine, Ford’s smallest EcoBoost engine yet, and this trend towards higher fuel efficiency is expected to continue.

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Survey: Americans Spending Tax Refund on New Cars, Auto Repairs

A new survey shows that Americans are already planning how to spend their tax refund, and the results point to a very happy spring for car dealerships across the country.

Out of the surveyed consumers, 68 percent expected to get a tax refund, and out of those consumers, a third will either spend the refund on a new or used car or spend it on car repairs. While the average tax refund amount is $2,900, the average amount they will put towards purchasing a new car or repairing their car is over $1,000.

During this time of the year, auto dealerships have the opportunity to close a lot of deals and move a significant amount of inventory. The survey showed that car buyers are just as interested in used cars as new cars, so if dealerships take the right marketing approach, they could see a spike in both new and used car sales.

For car buyers, this is also great news. Dealerships will be ready for a surge of customers, and many will offer seasonal incentives and deals in preparation of tax time. Besides that, having a tax refund ready as a down payment will give car buyers more options as far as available vehicles and flexible financing.

Is your tax refund burning a hole in your pocket? Are you ready to get into a new or used car today? Approved Loan Store wants to help YOU! Good credit, bad credit, no credit, we will work with you to get a car you want at terms you can afford! Get started today by filling 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!

Image courtesy of Arvind Balaraman / FreeDigitalPhotos.net

Major Recall Affects Over 3 Million Vehicles Worldwide

Toyota, Honda, and Nissan announced this morning that they would be recalling over 3 million vehicles worldwide due to faulty passenger-side air bags.

According to the Associated Press, the inflator on the air bags could potentially burst and send loose plastic pieces flying at passengers. So far, Toyota has had five reports of air bag problems, but fortunately none of the automakers have received reports of injuries.

Toyota will be recalling approximately 1.7 million vehicles including Corollas, Tundras, and other models produced between November 2000 and March 2004, and Honda and Nissan will recall 1.1 million and 480,000 vehicles respectively. Of the vehicles recalled, approximately 1.26 million of those vehicles are in North America.

To find out if your car has been affected by the recall, Toyota owners can find out more information here, Honda owners can find out more here, and Nissan owners can find out more here.

Are you ready to get into a new or used vehicle today? Approved Loan Store wants to help YOU! Good credit, bad credit, no credit, we will work with you to get a car you want at terms you can afford! Get started today by filling 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!

Ford Focus Top Nameplate of 2012

This week, the 2012 Polk global market registration data was finally completed, and the worldwide top-selling vehicles of 2012 were announced. There were a few surprises in the top 10, but Ford walked away with the top spot and the most representation on the list.

The Ford Focus was the top-selling nameplate in 2012 with over a million units. To be exact, it was 1,020,410 units, a 16 percent increase from 2011. Toyota Corolla came in second place with 872,774, followed by the Ford F-Series. Ford’s third model in the top 10 was the Ford Fiesta at number 6 with 723,130 units.

Here is the full list:

Ford Focus – 1,020,410
Toyota Corolla – 872,774
Ford F-Series – 785,630
Wuling Zhiguang – 768,870
Toyota Camry – 729,793
Ford Fiesta =- 723,130
VW Golf – 699,148
Chevrolet Cruze – 661,325
Honda Civic – 651,159
Honda CR-V – 624,982

In a press release, Ford was clearly celebrating their rankings. Jim Farley, Ford executive vice president, stated, “Focus and Fiesta represent the culmination of our One Ford global product strategy. Our global products are resonating with customers…With additional manufacturing capacity added last year, we now have a tremendous opportunity to further strengthen our global small car sales in 2013, with sales already off to a very strong start already.”

Readers, we want to hear from you! What do you think of last year’s top 10 bestsellers? Have you taken any of them for a test drive? Leave a comment below, and let us know what you think!