Tag Archives: car affordability

Toyota, Chevrolet Sonic Earn High Marks in Brand Loyalty

When shopping for a new car, I want to know which brands and models inspire brand loyalty. I want to know which drivers are going back to their current brand or model to look for their next car. Buying a car is a commitment, and brand loyalty surveys are the best way to gauge which drivers have buyer’s regret and which drivers really love their car.

A recent report on brand loyalty from Experian Automotive had some fascinating results. The report looked at which vehicles had returning customers when they went to buy their next car. The top 5 vehicle brands and top 10 vehicle models are as follows:

Top 5 Brands

  1. Toyota:  47.3 percent return rate
  2. General Motors:  46.2 percent
  3. Ford:  46 percent
  4. Hyundai:  45.3 percent
  5. Honda:  43.1 percent

Top 10 Models

  1. Chevrolet Sonic:  60.3 percent
  2. Ford Fusion:  59.9 percent
  3. Ford Flex:  56 percent
  4. Ford Edge:  55.1 percent
  5. Ford Five Hundred:  53.1 percent
  6. Toyota Prius:  51.8 percent
  7. Chevrolet Cruze:  51.7 percent
  8. Kia Forte:  51.6 percent
  9. Ford Escape:  51.4 percent
  10. Ford Fiesta:  51.2 percent

Toyota took the top spot for car brands even though it only had one vehicle in the top 10 models. Ford dominated the models list with the Fusion, Flex, Edge, Five Hundred, Escape, and Fiesta, more than half the list. Most surprising, though, was that the new kid on the block, the Chevrolet Sonic, came in first with model loyalty. The Chevrolet Sonic, formerly known as the Chevrolet Aveo, only premiered in the United States a year ago. The fact that it is already commanding such brand loyalty is really interesting and definitely something to watch in the coming years.

Readers, we want to hear from you! Did your favorite car make the top ten? When you look for a new car, what car makes and models stand out to you or draw you back again? Leave a comment below, and tell us 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 want to get you into a car you want at terms you 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!

Government Regulations Call for Lighter, Fuel-Efficient Cars

With new government regulations on fuel efficiency, auto makers are facing a difficult decision, a decision that will greatly affect how cars are built in the future. By 2025, their fleets need to average 54.5 miles per gallon, and they will only be able to achieve it by lightening their cars considerably. Steel has been the favored material for years, but now they must choose between high-strength steel, aluminum, and carbon fiber composites.

Of course, one of the biggest challenges facing these automakers is making these cars lighter with different materials while also ensuring that these cars are safe. How will aluminum cars hold up in an accident, particularly with older model cars made of traditional steel? Automakers and the NHTSA have assured drivers that these new models will have to undergo the same rigorous safety tests as any other car, and these new materials will not change their high expectations of quality.

Another question on people’s minds is how this change in materials will affect the cost of production. Luckily, most of these materials are either the same price or only slightly more costly than steel. Ronald P. Kurpitzer of the American Iron and Steel Institute has stated that a part that formerly weighed 100 pounds could now be produced as high-strength steel weighing only 75 pounds at no additional cost. Aluminum has been quoted as costing approximately $600 to $800 more to produce a body in white, and carbon fiber could cost an additional $1,200. These numbers could go down as manufacturers perfect the process, though.

The good news for drivers is that even though the cost of these cars might go up slightly in the next few years, consumers will be saving in the long run at the pump. Fuel efficiency will be improved so much that even if the car’s manufacturing costs several hundred dollars extra, that will easily be made up in savings on gas.

If you are looking for a more fuel-efficient car, Approved Loan Store wants to help you! Good credit, bad credit, no credit, we want to find you a car that fits your needs and your financial situation. 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!

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Kia Announces Super Hero-Themed Line-Up

Last Friday, we told you about Kia’s custom Batman-themed Optima which was on display as part of DC’s Darkness & Light art exhibition. We thought it was a fun idea considering that New York Comic Con was also happening this past weekend, and maybe the exhibition would get some attention from the comic book crowd.

As it turns out, Kia has bigger plans with DC. Very soon, Kia will be offering custom cars themed after Batman, The Flash, Cyborg, Aquaman, Superman, Green Lantern, and Wonder Woman. They will be revealed at special events across the country and then auctioned off for charity benefiting DC’s “We Can Be Heroes” initiative.

Reading over some of the coverage of Kia’s announcement, I think some people missed the point. Time Magazine’s Brad Tuttle called it an “odd” strategy and wondered whether Batman would have driven a Kia Optima. “The practical, commuter brand just wouldn’t be rugged (or bulletproof) enough to suit a Batman’s crime-fighting activities, and Kia’s reputation for affordability wouldn’t be a match for Wayne’s billionaire playboy mystique.” He also made the odd comment that the Wonder Woman car would be the “girliest” Kia model.

Do I need to remind Time Magazine that Batman isn’t real? The point isn’t that Batman would drive this car. If that were the case, it would be completely impractical for any normal American consumer to own and drive. The point is that Kia is increasing brand awareness while also supporting a good cause. The people bidding on the cars will be much more interested in having a piece of car and comics memorabilia and helping families in the drought-stricken Horn of Africa.

Besides that, there are a lot of words I would use to describe Wonder Woman. Girly is not one of them.

To learn more about “We Can Be Heroes,” check out their website here. If you are looking for a great new or used car, Approved Loan Store wants to help you! Good credit, bad credit, no credit, we want to be your automotive heroes! 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!

New Stereos Offer Smart Phone Technology in Older Cars

In the past year, new smart phone technology has advanced substantially and is available in many of the 2012 models. If you don’t have a new car or are looking to purchase a used car, though, never fear. You can still get smart phone technology in older car models with a simple stereo upgrade.

According to a recent New York Times article, some of the options for people looking for an upgrade include Pioneer’s AppRadio 2, the Sony XAV-701HD, the Alpine INE-Z928HD, and the Clarion NextGate. The price ranges from $270 up to $700, and depending on the model, these systems can stream Pandora, sync with most iPhones except the iPhone 5, give driving directions, and work with Bluetooth among other features.

Most of this technology is relatively new, and I was surprised reading over these stereo upgrades and then looking at the price tag. $270 is very reasonable for one of these systems, and I’m sure with some sales hunting that someone could find a system that is even less expensive. Besides that, the systems that allow for hands-free phone calls can help cut down on distracted driving accidents which could be an incentive for parents to get a low-cost system for their teen’s car.

Readers, we want to hear from you! Would you get one of these new stereo upgrades for your car, or do you prefer to keep your car disconnected? Leave a comment below and tell us what you think!

If you’re looking to get into a new or used vehicle, Approved Loan Store can help! We will work with you and find a car that fits your needs and your budget! 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!

Why 2012’s Most Popular Car Colors Are Anything But “Boring”

In a famous scene from Christopher Nolan’s Batman Begins, Lucius Fox is showing off the Batmobile Tumbler to Bruce Wayne. After seeing the Tumbler go through the paces, Bruce coolly asks, “Does it come in black?”

Bruce Wayne, like many other people searching for a new car, knows that the color of their car makes a statement, and the color of a person’s car can either enhance or destroy a first impression. Americans are still recovering, and though unemployment is dropping slowly but surely, people want cars that are practical and will give the impression of professionalism. PPG Industries, a paint supplier for many of the major car manufacturers, released its list of the top 5 car colors for 2012, and the list reflected a more conservative car-buying public. White was the top color making up 22 percent of cars and trucks build for the 2012 models, followed by silver, black, grey, and red. All of these colors are classic and will give the car a timeless look as opposed to more outrageous colors.

Imagine my surprise when I see the Associated Press’ headline “America’s favorite car colors for 2012 are…boring.” According to their headline, this is boring:

This is boring:

Even this is boring:

Does the Associated Press really think that white, silver, black, grey, and red are boring colors? Would they rather see people pulling up for a job interview in a bright neon-colored car? The truth is that the color black can remind someone of Audrey Hepburn’s little black dress just as much as it can remind someone of an undertaker. White, silver, and black will suit a business function as much as a night out on the town. It isn’t that the top colors of 2012 are boring but that they are more versatile than other car colors that will only suit one time or place.

No matter what color car you might be looking for, Approved Loan Store is ready to help you get into the right car! Good credit, bad credit, no credit, we want to work with you! 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!

Picture Courtesy of MemeGenerator

CONSUMER ALERT: Counterfeit Air Bags

This morning, the NHTSA released a safety advisory to consumers regarding counterfeit air bags that were installed at repair shops not associated with a new car dealership. At Approved Loan Store, we want to keep our readers informed of any and all consumer alerts from organizations that could affect their driving safety, so we wanted to break down the advisory and give you strictly the information that you need to know.

First off, this is potentially only going to affect less than 0.1 percent of vehicles, but since they don’t have all the pertinent data, it could be more than that. Any consumer who bought their car new and never had their air bags replaced is not affected by this advisory, and consumers who had their car’s air bag installed at a repair shop associated with a new car dealership are also not affected.

If the following qualifications apply to you, then you should contact a local call center and get your car checked out at a new car dealership’s repair shop. You can get the number for your local call center at www.SaferCar.gov.

  • Replaced vehicle’s air bags within the past three years at a repair shop not associated with a new car dealership
  • Purchased a used car and are unsure of the car’s full history
  • Purchased a car with a title branded salvage, rebuilt, or reconstructed
  • Purchased a replacement air bag from a non-certified source such as eBay

If you believe that your car might be affected, take care of it right away. The NHTSA has released a frightening video of what happens when these counterfeit air bags are deployed. Jalopnik is hosting the video here. This is not something to put off for a few days or a few weeks. If your car fits any of the categories listed above, get it checked out as soon as possible.

Are you looking for a new or used car you can rely on? Approved Loan Store wants to help you get into a safe and affordable vehicle today! Fill out our secure online auto loan application here, and get the latest auto news and consumer alerts like today’s air bag advisory by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Scam Artists Re-Sell Stolen Cars on Craigslist

In the past, we at the Approved Loan Store have advised our readers to stay away from Craigslist car deals that seem too good to be true, and we were sad to hear yet another Craigslist car buying horror story late last week.

WILX, an NBC affiliate in Lansing, Michigan, first reported that car thieves are re-selling cars on Craigslist to unknowing buyers. The sellers are forging car titles to go along with the car and replacing the VINS with fake VINS or scratching it off completely. Oftentimes, the seller insists on dealing in cash and meeting in a parking lot after business hours. This way, the buyer wouldn’t be able to check the VIN with the Secretary of State until after the sale is done.

How can you avoid these scams and make sure you are getting a quality car at affordable terms? First off, it is better to go through a dealership as opposed to through a private seller. Most private sellers are great, and there are reputable private sellers available, but it is riskier than going through a dealership. Second, go through an Approved Loan Store dealership. Our Special Finance Representatives will find you the car you want at the right price, whether you have stellar credit or no credit at all.

If you are ready to get into a new or used car today, fill out our secure online auto loan application here, and get the latest car buying news and tips by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Americans Getting Into Cars, Back to Work

In the past, we have written about the strong correlation between car ownership and the unemployment rate. When more people have cars, unemployment is usually down because more job opportunities are open to them. A job hunter who owns a car is not limited to places along public transit routes, and once they get the job, they can be more reliable than an employee who hopes the bus is running on time.

The latest jobs report, which was released this week, showed that this correlation still holds true. Unemployment has dropped to 7.8 percent while car sales have continued to go up throughout 2012.

Now, some people will say that this correlation doesn’t suggest that car ownership leads to better job security and will take the other side of this “chicken-or-the-egg” debate. They will claim that because more people are employed, more people have the money to spend on a new car, and they would be partly right. Yes, some car buyers are just looking to upgrade their ride or buy a car that is more luxury than necessity, but take a minute and look at the auto sales numbers for 2012. There are not that many people buying a car just for fun. The economy is better, but it is not that good.

Coming out of this recession, Americans are valuing car ownership. Millions of people have been out of work, and they know the frustration of riding the bus or relying on a friend to drive them to yet another job interview. With Americans going back to work and auto loans accessible to more consumers, even those with subprime credit, it makes sense that people are strengthening their job security by getting a car now.

Are you ready to get into a new or used car today? Approved Loan Store can help you! Good credit, bad credit, no credit, we want to get you in 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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“Invisible” Backseat: Gimme or Gimmick?

Car technology is progressing at a frightening pace. Self-driving cars are in the near future. Smart phone sync technology is becoming standard in new models. Some cars can even measure the driver’s heart rate and turn off driver distractions.

Most of this new technology is pretty amazing, but occasionally, a new car gadget or gizmo is more confusing than cool.

Researchers at the Keio University in Japan will be at the 2012 Digital Content Expo in Tokyo to show off an “invisible” Prius. The backseat of the Prius is covered with retroreflective materials, jokingly referred to as the “invisibility cloak” from the Harry Potter series. The material allows the driver to see through the backseat, and theoretically drivers will have less trouble parallel parking or driving in reverse. Masahiko Inami, a professor at Keio University’s School of Media Design, described the experience as “driving a glass car” and was confident that the technology would be widely used in the future.

I still have no idea what to think about the “invisible” Prius. While I hate parallel parking just as much as the next driver, I feel like the experience of driving a “glass car” would make parking tougher. Is the driver’s depth perception affected in any way? How is the “invisible” backseat an improvement on the rear-view cameras that are already available? So far, I think the “invisible” Prius is fun to show off at a technology expo, but I am not convinced that drivers will want it or manufacturers will want to pay for it.

Readers, we want to hear what you think! Do you like the “invisible” Prius? Would you want to see through your backseat? Leave a comment below, and tell us what you think!

Are you ready to get into a new or used car? Approved Loan Store wants to help you get 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!

September: U.S. Auto Industry Holds Strong Despite Japanese Comeback

2012 continues to be a strong year for the U.S. auto industry with September once again posting great sales numbers.

According to the Daily Beast, analysts expected that U.S. auto sales would hit an annualized pace of 14.5 million in September, but they exceeded that with 14.87 million. Chrysler saw a sales increase of 12 percent compared to September 2011, and Jeep saw a 10 percent increase. Also, fuel-efficient vehicles continued to perform solidly, and U.S. brands held their ground even as Japanese brands Toyota and Honda made a comeback.

How is the U.S. auto industry maintaining this pace? One of the biggest factors is that car shoppers with damaged credit are still getting approved for auto loans. In 2012 so far, 1 in 4 auto loans have been subprime loans, and the average amount financed for auto loans overall has increased while monthly payments have barely changed. Those are great conditions for buying a new or used car, even for consumers who thought they couldn’t afford a car or get approved for an auto loan.

At Approved Loan Store, we love getting our customers into great new or used cars at terms they can afford! Good credit, bad credit, no credit, we want to help you! Check out our testimonials to see real life Approved Loan Store customers with their new cars, and if you are ready to get started, fill out our secure online auto loan application here.

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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