Tag Archives: blog

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.

  1. 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.
  2. 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.
  3. 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.

Image(s): FreeDigitalPhotos.net

One-Half Boat, One-Half Sports Car, 100 Percent Awesome

Stevie Johnson owns what I’m sure will be the most envied powerboat ever. It might seem strange to be discussing a boat on a car blog, but this particular boat is different. This is a boat built for a car lover.

One half lobster boat, one half 1994 Pontiac Sunbird convertible, the water has never seen anything like Stevie Johnson’s unique creation. The cool blue Pontiac Sunbird is mounted to the top of the boat, and the vehicle is rigged up so that Stevie can drive the boat from the front seat of the car. While it is not the fastest boat in the Maine lobster boat races, Stevie’s boat dubbed the “Sunbird” is drawing crowds and admirers wherever he goes.

Stevie has a history of racing unconventional vehicles in Maine lobster boat races. He has taken on competitors in a seaplane, and back in 2009, he told the Wall Street Journal that he was looking into purchasing an Oscar Mayer Weinermobile. There is no word as to whether he successfully acquired that Weinermobile, but I can only imagine what kind of boat he planned to build out of it.

If you want to see more of the Sunbird, check it out over at Jalopnik, and keep up with the latest auto news and trends by liking Approved Loan Store on Facebook and following Approved Loan Store on Twitter.

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.

Image: supakitmod / FreeDigitalPhotos.net

Just Who is Buying Cars These Days?

With the resurgence of the auto industry being firmly embedded into the news cycle month after month, the major car makers have found themselves questioning just what they have to do to keep themselves there. A recent report from AARP showed that the Millennial generation are the ones with the most buying power. Making up more than 40 percent of the car buying market, there’s been a considerable shift in thinking from the car companies about just who they should be selling their cars to. The youth crowd has been the typical demographic, but with only making up 27 percent of new vehicle sales, it begs the question of just how much effort should be extended to encourage the young to purchase a car?

Autofinancenews.net has an article that shows that the advent of social media has diminished the desire for many youths to own a car. Why do they need to purchase a new set of wheels to go visit a friend when they’re are just a tweet/text/email away? Many are still in college, struggling with staggering college debt, and are turned off when looking at just the costs of gas and concerns about the environment.

Car makers, like GM and Chevy, are trying to see what they can get in the $170 billion in buying power young consumers have. They have teamed up with MTVScratch, to see how to get both the youth and the Millennial into dealerships. One of the first orders of business is rethinking business. MTVScratch will be transforming not just the way cars look, or the technology in the dashboard, but will even be re-imaging the test drive. Chevy, for example, will have their upcoming models of the Sonic, Cruze, and Spark available in some news colors, such as “techno pink,” “lemonade,” and “denim.” Scratch has even gone as far as saying that the sales people at the dealerships need to abandon the commission system. The new buying crowd is used to buying things like in an Apple Store, where the employees don’t use hard sell tactics.

It’s still the question of if the young buyers are going to be the ones to really help the auto industry’s sales trend. Jeep has decided the answer is no and have turned to the Millennials by taking out ads in AARP’s magazine geared strictly at placing the above 50 crowd into a new car. Only time will tell of just how auto makers can succeed in capturing such a large part of the market and just which generation is the one to keep the industry strong.

What do you think? Which market is the better one, the youth or the over 50 generation? Go ahead and leave a comment voicing your opinion. If you’re part of either group and looking to purchase a vehicle, but suffer from challenged credit, be sure to fill out an application for Approved Loan Store. Our staff is waiting to help get you into the car you want. Like us on Facebook and follow us on Twitter and we’ll keep you up to date on all the latest news in the industry.

Image: photostock / FreeDigitalPhotos.net

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.

Image: jannoon028 / FreeDigitalPhotos.net

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.

Image: graur razvan ionut / FreeDigitalPhotos.net

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.

Image: sippakorn / FreeDigitalPhotos.net

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 31st, 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.

Image: FreeDigitalPhotos.net

Reuters: Lose Weight, Improve Car’s Fuel Efficiency

If you want your car to be more fuel-efficient, Reuters has a novel idea: lose weight.

A recent statistic shows that gasoline consumption has gone up along with the needle on American’s scales. According to the study, Americans in 2012 compared to Americans in the 1960s are wasting 1 billion gallons of gas in their cars.

Where are those 1 billion gallons going? Well, Americans in 2012 on average weigh more than Americans in the 1960s, and it takes 1 billion gallons more to power their cars. Across the country, Americans could be getting a better gas mileage on their cars and spending less at the pump by getting their weight down to the average American’s weight in the 1960s.

Of course, you can’t turn a gas-guzzler into a hybrid just by dropping a dress size, and Approved Loan Store can help you find a more fuel-efficient car in your price range. Fill out an auto loan application online here, and keep up with the latest news from the auto industry by liking Approved Loan Store on Facebook and following Approved Loan Store on Twitter.

Image: dream designs / FreeDigitalPhotos.net