Tag Archives: budget

Time Magazine: September is the Best Month for Car Deals

Have you been procrastinating on buying a new car? Industry experts say that September will be the best time to buy all year for those looking for wide selection and low prices, particularly on used cars.

According to Time Magazine’s Moneyland, September is the best time to buy 7 products: cars, jewelry, summer weather-related products, back-to-school products, plants, stoves, and produce. What makes September so special for the auto industry? Well, most dealerships have received the 2013 models by September, and they are ready to be out with the old and in with the new. 2012 models will be deeply discounted, even if they don’t have a lot of miles on them, and dealerships will want to move them out the door.

Unfortunately, this means that by the end of September, most of the choice inventory will be picked over, and while car buyers might still get some good deals in the last few months of the year, they will have probably missed out on an even better deal. If there was a time to get looking for that new or used car, it is September.

Approved Loan Store wants to help you get in on these September deals. Good credit, bad credit, no credit, we want to get you into a great new or used car. Fill out our secure online auto loan application here, and connect with us 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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Consumer Alert: Westchester Car Buying Scam

At Approved Loan Store, we want to make your car buying process easier and more pleasant. Unfortunately, there are people who offer car terms that are too good to be true, and we have to deal with the fall-out of disillusioned consumers who fell prey to these scams. That is why we wanted to alert our readers to a recent car buying scam in Westchester. It is our hope that by reporting about this scam, car shoppers in the New York City area will not fall for it and then wind up out of money and without a car.

We heard about this car buying scam through the Scarsdale Patch. According to their report, a Westchester man was trying to buy a 1961 Impala from a seller on Auto Trader. The buyer was instructed by the seller to wire the payment for the car through a Google Wallet account. Once the transaction was complete, the seller promised that the car would be shipped. Anyone familiar with these kinds of scams will know how it turned out. After wiring the money late last month, the buyer suddenly couldn’t get a hold of the seller, and even more infuriating, the buyer saw that the car was still listed as available on the Auto Trader Website.

Not everyone who purchases a car through Auto Trader, Craigslist, or other websites has a poor experience. Car buying online can seem convenient, and we have many car buying tools on our website including our online auto loan application. However, there are risks to going through a private buyer on Auto Trader or Craigslist. Even if the seller had shipped the 1961 Impala, there is no telling what condition that car would be in. Furthermore, if a seller asks to have money wired in advance, run the other way. Money transfers are an immediate red flag. To avoid these problems, we recommend buying from a car dealership, preferably an Approved Loan Store dealership. If a private seller still seems promising, though, deal with the seller in person and get the vehicle inspected before purchasing.

Are you looking to get into a new or used car? Good credit, bad credit, no credit, we want to help you get into a great car at terms you can afford! Fill out our secure online auto loan application here, and connect with us by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Image: FreeDigitalPhotos.net

“Designated Texter” Hopes to Change Trend on Texting-and-Driving Accidents

In the past year, we have talked a lot about the dangers of texting and driving and new technologies designed to curb this deadly trend. Parents and educators have tried scaring teens with PSAs and real-life stories of people whose lives were ruined when a friend or family member decided to text and drive. The answer to texting and driving, though, might be a heck of a lot easier (and cheaper) than any of these high-tech bells and whistles and more effective than scare tactics.

“Designated driver” is a term that is very familiar to any driver old enough to drink. It means that when a person chooses to drink, they willingly give up their car keys to a sober driver or arrange for a taxi pick-up at the end of the night. Similarly, the new term “designated texter” indicates someone in the car other than the driver who will place any calls or send any texts for the car. For example, if a group of friends are driving to a party but get lost on the way, the designated texter can call or text to get directions.

Honestly, I am shocked that no one came up with this idea before. It is simple, doesn’t cost anything, and is purely common sense. The National Highway Traffic Safety Administration is hoping that the idea catches on, and at Approved Loan Store, we hope so too. We want all of our customers to be safe on the road and encourage our readers to use common sense whenever they get behind the wheel. Whether it means getting a designated driver or assigning a designated texter, do what you need to do in order to stay safe and keep others safe on the road.

Are you looking to get into a new or used car? Bad credit, no credit, good credit, Approved Loan Store wants to help you! Fill out our secure online auto loan application here, and connect with us by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Image: FreeDigitalPhotos.net

Are You Paying Too Much for Auto Insurance?

At Approved Loan Store, we want to make sure our customers get the best possible deal on an auto loan, but there are more costs to owning a car than just the loan payments. There is the cost of gas, general maintenance, and of course, insurance. We want to help our customers save on these other car costs, so when we saw these tips for lowering car insurance costs over at Fox Business, we wanted to share them with our readers. Please remember that discounts and terms of those discounts vary between insurance companies, so ask your insurance company if these discounts are applicable.

If You Are in a Committed Relationship…
Married couples and unmarried committed gay couples can often receive discounts, especially if they are insuring multiple vehicles.

If You Are a College Student…
Full-time students can receive a discount. Sometimes the discount is based on grade point average, but that isn’t always the case.

If You Installed a Car Alarm…
Many insurance companies will offer a discount for installing car alarms, fuel or ignition cutoff switches, vehicle identification number engravings, or car tracking systems.

If You Switched to Paperless…
So many insurance companies want to brag about going green, and they give incentives to customers for e-mail communication instead of paper mailings. Also, if you are thinking about switching to a hybrid, some car insurance companies are giving as much as a 10 percent discount.

If You Were in a Fraternity/Sorority…
Former frat brothers and sorority sisters can get up to an 8 percent discount. The reasoning is that individuals involved in these kinds of groups are more responsible and less likely to be reckless drivers.

If You Served Your Country…
Many companies want to ease the financial burden of those who have served in the armed forces, and car insurance companies are no exception. Some offer a 15 percent discount when the driver is home in the states and up to 80 percent when they are deployed.

If You Have Good Credit…
This is a tip we have mentioned before, but it bears repeating. By improving your credit, you can save money on so many things including car insurance.

If You Are a Teacher/Doctor/Police Officer/ Self-Employed…
There are numerous discounts based on profession, and it isn’t just for servicemembers. Again, check with your insurance company because the variety of professions included is shocking.

If You Are a Loyal Customer…
Have you been with your insurance company for 5 years? 10 years? If so, you might be eligible for a customer loyalty discount.

Are you taking advantage of all of these discounts? Did we miss any lesser-known discounts? Leave a comment below, and tell us what discounts you are taking advantage of with your insurance!

Looking for a new or used car? Concerned that your credit is holding you back? Approved Loan Store wants to help you! Fill out our secure online auto loan application here, and keep up with the latest news and auto buying tips by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Image: FreeDigitalPhotos.net

Survey: Negotiating Price, Financing Worst Part of Buying a Car

A new survey has confirmed what we over at Approved Loan Store already know: Car shoppers hate haggling over price.

The survey asked 2,000 respondents to list steps in the car buying process from the most pleasant part to the least pleasant part. They could choose from researching vehicles make and models, shopping and test-driving, arranging/negotiating financing, and negotiating the price of the car. Overwhelmingly, survey subjects chose negotiating the price of the car as the least pleasant step in the car buying process followed closely by negotiating financing.

At Approved Loan Store, we know that car buyers hate haggling over price and financing, and we are constantly striving to make the process more streamlined and better for our customers.

Step 1: Fill out our secure online auto loan application here.

Step 2: You will be contacted by an Approved Loan Store representative who will schedule an appointment with the Approved Loan Store dealership closest to you.

Step 3: Meet with an Approved Loan Store Special Finance Representative who will work with you and get the best possible price and financing options.

Our network of dealerships has helped customers all around the tri-state area get into great cars at affordable terms. Hundreds of customers have given written and video testimonials raving about their experience with Approved Loan Store, and we know that one of the reasons is because our process makes pricing and financing easier. At other dealerships, pricing and financing might be the stuff of nightmares, but with Approved Loan Store, financing a car is as simple as 1-2-3.

Want to connect with Approved Loan Store online? Like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube to get the latest auto news and updates from Approved Loan Store.

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Have Celebrity Car Endorsements Gone Too Far? Batman Reviews Hyundai i30

These days, every car manufacturer is looking for a celebrity to promote their latest, hottest models. Justin Bieber has his chrome Fisker Karma, Charlie Sheen drove a FIAT 500 Abarth through his house in FIAT’s “House Arrest” commercial, and Jerry Seinfeld tried to get his hands on an Acura NSX in last year’s Super Bowl commercial. Recombu Cars, a new source for independent car news and reviews, is taking a new route with the celebrity endorsement and soliciting the opinions of fictional characters.

Their first (and hopefully not last) “celebrity” auto critic is none other than Bruce Wayne’s famous alter-ego, Batman. Recombu Cars’ Rory Reid was filming a typical video review of the Hyundai i30 in Central London when his review was hijacked by the caped crusader. To say that Batman was initially underwhelmed by the i30 is an understatement. When Reid praised the i30’s spacious interior with plenty of room for families, Batman growled, “My parents are dead.”

By the end of the review, though, Batman had softened to the i30 and even begrudgingly asked if it came in black. I still doubt that Batman will pick up the i30 considering how much trouble he had with the voice-activated entertainment center. “Play CD…play CD…swear to CD!”

You can watch the full review below:

At Approved Loan Store, we’re not so sure we would take Batman’s advice in picking out a new car, but our special finance representatives are ready and willing to help you, whether you have a year and model in mind or if you are just starting your car search. Fill out our secure online auto loan application here to get started, 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!

Driver Leaves Maserati Running in Times Square, Surprised When It Gets Stolen

Note to Maserati owners: If you don’t want your car stolen, don’t leave it unlocked with the engine running in the middle of Times Square.

Chadwick Lange was new to the city, just moving to Manhattan from Florida. According to his account of the events, he saw a friend of his around the intersection of 47th Street and Broadway, so he pulled over his 2008 Maserati Gran Turismo to say hello. He must not have planned on staying long because he left the keys in the ignition and the engine running.

Two strangers approached Lange and asked if they could take some pictures of his Maserati. He obliged and went back to the conversation with his friend. After the two strangers took a few pictures, one of them jumped into the front seat and drove off, slowing down only to let his friend jump in the passenger side further down the street.

So far, there has been no sign of the car or the two thieves, but it seems like this crime could have been prevented with a little common sense. Most people know not to leave a car unattended with the keys still in the ignition, much less a Maserati, but some have speculated that Lange wasn’t just pulling over for a chat. A fact that has gotten buried underneath the shocking stupidity is that Lange’s car was stolen at 4:30 in the morning. He just happened to be driving around at 4:30 in the morning and ran into his friend (*cough* DEALER *cough*), and he decided that he should stop for a chat (*cough* FIX *cough). Well, whatever reason Lange decided to pull over that day, whether for a fix or for a conversation, I hope it was really, really good.

Need a new car? Approved Loan Store wants to help you! Bad credit, no credit, car got stolen in Times Square, we want to get you into a new or used car at terms you can afford! Fill out our secure 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!

Auto Loan: New FICO 8 Unnecessarily Complicates Credit Score

Maintaining a good credit score is a tough task that takes time, attention, and diligence on the part of the consumer. Most Americans don’t even know their credit score, much less what it means or how it is calculated. Consumer groups and government agencies like the Consumer Financial Protection Bureau are trying to demystify credit reports and credit scores for the general public, but unfortunately, the credit reporting industry is, perhaps intentionally, making credit scores more confusing.

FICO scores have been the credit industry standard for years, ranging from 300 up to 850. When lenders talk about your credit score, it is likely they are referring to your FICO score. Recently, the Fair Isaac Corporation, which produces the FICO score, touted that the number of consumers in the top tier of credit scores has increased, and the number in the bottom tier has decreased. This sounds like really great news until Ann Carrns of the New York Times took a closer look.

As it turns out, the numbers they were touting were not based on the FICO score but rather a new-and-improved FICO score, FICO 8. FICO 8 is a new formula used to calculate that all-important credit score which can mean the difference between getting approved for a higher amount on a car loan or getting a lower interest rate. Fair Isaac Corporation will disclose that over 76,000 creditors are using FICO 8, but they would not say how many creditors are using the older FICO score model or how a consumer can find out which model a particular creditor is using. Even more frustrating, the FICO 8 credit score is not available for purchase from Fair Isaac Corporation, so consumers are left in the dark as far as their FICO 8 score is concerned.

I’ve been writing about the credit industry and how it relates to the auto industry for a while now, and this is one of the most ridiculous stories I have ever heard. Through this blog, we are trying to simplify the car buying process and give our readers the most basic information that every consumer needs to know to improve their credit and get the best rates on an auto loan. When it comes to credit scores, we often tell people to stick with the original and the industry standard, their FICO score. Now, even that most basic tip has been complicated with the old model FICO score vs. the FICO 8 model. The Consumer Financial Protection Bureau has promised that they will be closely monitoring the credit reporting industry, and I sincerely hope that they crack down on this nonsense. One last message to FICO: Your actions are confusing consumers and making credit way too complicated. Please stop.

No matter 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 keep up with the latest auto news and consumer alerts 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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Mazda Puts Line-Up on Strict Diet

Fuel efficiency and alternative fuels are becoming more and more important to car manufacturers, and Mazda hopes to improve their line-up with a bold goal: putting their line-up on a strict diet.

Last week, Mazda announced a plan to cut a minimum of 220 pounds with every vehicle model redesign. This is not an easy task for the company’s engineers who have to fulfill certain safety requirements as well as keep customers happy with newer technology and more comfortable interiors. Still, Mazda is dedicate to the lofty goal, even as the cars will eventually run out of weight to cut. Vehicle development engineer Dave Coleman commented, “Obvious that’s going to get harder and harder. We focused so much on the low-hanging fruit that we still have a lot of room.”

How does a car company go about lightening a car’s load? New lightweight materials play a big role, and frame redesigns require less steel, automatically cutting back the car’s weight. Of course, the problem with some of these new materials is availability and price. While they might be cheaper in the long run with higher fuel efficiency, consumers might end up paying a little more now for these lighter cars.

What do you think about Mazda’s weight goals? Would you be more or less likely to buy a Mazda after they drop some pounds? Leave a comment below, and tell us what you think!

Are you looking to get into a new or used vehicle but your credit is holding you back? Approved Loan Store wants to help you! 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

GM Announces Major Breakthrough in Electric Car Batteries

This might be only the second full week of August, but already it is the month of hybrid and electric cars. Earlier this week, we told you about new technology out of Middle Tennessee State University that will transform normal vehicles into fuel-efficient hybrid cars.  Yesterday, GM continued the trend by making a major announcement about the future of electric cars.

GM CEO Dan Akerson announced at an employee meeting Thursday that there has been a breakthrough in the lithium-ion batteries used in electric cars. Right now, the Chevrolet Volt can go for about 35 miles per electric charge with a gas motor that kicks in if the battery power runs out. Akerson announced that the new batteries would be able to travel 100 miles per charge, nearly three times its current power, and he teased that the batteries would soon be able to travel up to 200 miles per charge. He called the increased battery power a “game changer” in the industry.

Even with this great news, though, GM is still being cautious and keeping their business in mind while exploring hybrids and electric cars. If it turns out that they can’t make 200-mile batteries, they are also working on hydrogen fuel cell vehicles and natural gas vehicles. Akerson compared focusing solely on electric cars to putting “all of our chips on one bet” and assured GM employees and the public that GM would explore all of their options.

If GM came out with electric cars that could go 200 miles on one charge, would you take one for a test drive? Leave a comment below, and tell us what you think!

GM’s new high-powered electric cars are still a ways off, but Approved Loan Store wants to help you get into a new or used car today. Good credit, bad credit, no credit, we want to help you! 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!