Tag Archives: car affordability

Real-Life Superhero Wrecks Hummer to Save 4 Children

One of my favorite films of all time is The Dark Knight. While perusing the auto news headlines this week, I was reminded of a scene in the movie when Bruce Wayne wrecks his beautiful Lamborghini and puts his life in danger in order to save a man’s life. Recently, an eerily similar event happened in Alberta, Canada where a driver saved the lives of 4 minors from another driver who was driving erratically and talking on his cell phone.

Darrell Krushelnicki was having a normal day, driving his Hummer H3 and minding his own business, when he noticed 4 minors crossing the street together. The youngest was 3 years old, and the oldest was 16. Darrell also noticed another driver in a Pontiac G5 who was speeding along at 50 mph in a 20 mph zone, talking on his cell phone, and showing no signs of stopping at the crosswalk. He could have honked his horn, warned the kids to get out of the street, or done nothing at all, but instead, he cut in front of the Pontiac G5 and stopped it from running down the kids. Fortunately, neither Darrell nor the other driver was injured, but both cars sustained major damage.

This is how I imagined that it happened:

Like many other people, I am amazed by Darrell’s story. His bravery and willingness to sacrifice his Hummer to save these children’s lives is commendable. The local police are recommending Darrell for an award, and I hope he gets recognized for what he did. Not only does he deserve it, but it could lead to more discussions about the dangers of distracted driving.

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

George Romney and the “Gas-Guzzling Dinosaur”

Election year is in full swing, and with a little less than 2 months until the election, it is hard to go anywhere without hearing nasty attacks and soapbox speeches. Since our site covers auto news and tips for car shopping, we don’t usually have the need to go anywhere near politics, but after reading this fascinating little piece over on Jalopnik about George Romney and the auto industry, we thought it was worth a share. You can read the full article here or check out our recap and thoughts on the piece below.

When you think of compact cars and better fuel economy, what names come to mind? George W. Mason, Alec Issigonis, or Henry J. Kaiser are obvious choices, but many young car enthusiasts today don’t know that George Romney was instrumental in making compact cars mainstream. Some people might be surprised that George Romney, the late father of presidential candidate Mitt Romney, wanted to make cars more fuel efficient, calling current models “gas guzzling dinosaurs.” He worried that families were overly burdened by the cost of gasoline, and despite criticism and disdain for compact cars at the time, Romney used his influence to encourage the movement towards smaller vehicles.

While he was president of American Motors Corporation, he wrote an editorial in the News and Courier in South Carolina that shows his enthusiasm for the future of compact cars, specifically the Rambler. He saw the potential of the compact car, and in his editorial, he writes, “Just what is a true ‘compact’ car? Loosely applied, the term has been used to describe a car providing better-than-average gasoline economy, or a particular size of vehicle, or a car in the new lower price range. The compact car concept is broader than these things.” The full editorial is available here.

While Mitt Romney shouldn’t be judged positively or negatively by the actions of his father, I thought that more people should know that George Romney was a pioneer in fuel-efficient vehicles. His actions showed empathy for the American family trying to stick to a budget and also started the slow move away from gas-guzzling cars. I don’t know if his son Mitt has the same enthusiasm for getting “gas guzzling dinosaurs” off the road, but it could make for a very interesting debate question for the decidedly pro-business candidate.

Are you spending too much at the pump? Approved Loan Store would love to get you into a great new or used fuel-efficient car! Fill out our secure online auto loan application here, and make sure to like Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

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Longer or Shorter Auto Loan Length: The Right Choice for You

If you’ve been paying attention to auto loan trends, you would have noticed that the length of the typical auto loan has gone up in 2012, averaging at 64 months or about 5.3 years. Lenders are more willing to grant these longer loans, and looking at the lower monthly payments, it is easy to see why these loans appeal to consumers. These longer loans, however, are not necessarily right for everyone, and choosing the wrong loan length could cost you in the long run. How do you know if you need a shorter or longer loan length? We have a rundown of the major advantage and disadvantage of both types below.

Longer Loans

Longer loans are usually better for people who have shakier finances. The monthly payments are lower, so if a costly emergency comes up, the car payments won’t be as much of a burden. The downside of longer loans is that the interest adds up. In the end, you will end up paying more for the car, but you’ll get to pay it over a longer period of time.

Shorter loans

Shorter loans are better for people who are certain they can pay the loan off quickly, usually people with less financial obligations. The biggest upside to shorter loans is that you will pay much less in interest over the course of the loan. The downside is that if an emergency comes up, the monthly payments are much higher and will put a bigger burden on your finances.

The great thing about going through Approved Loan Store instead of walking up to any dealership is that our Special Finance Representatives will sit down with you personally and help you figure out what type of auto loan is the right choice for you. They will review your financial situation and determine with you what will suit your needs and not break your budget, whether that is a longer or shorter loan length.

Are you ready to get into a new or used car? 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 connect with us by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

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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!

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“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!

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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!

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Cedar Rapids Boy Steals Family Car, Crashes 4 Blocks Away

There is a phase that a lot of young kids go through where they threaten to run away from home. They pack up their backpacks with a couple of peanut butter and jelly sandwiches, a beloved stuffed animal, and their Nintendo DS, but usually that is as far as it goes. A 7-year-old in Cedar Rapids, Iowa, however, decided to take it a huge step forward and steal his mom’s car for a quick getaway.

Last Saturday at around 9 a.m., the unnamed boy took his mother’s car keys and drove down 33rd Street to Edgewood Parkway. On a typical day, this area of Cedar Rapids is fairly busy with a movie theater, numerous restaurants, and a mall close by. Fortunately, he only got about a block down Edgewood before he crashed the car between a bank and a Wendy’s restaurant, and despite the state of the car, he did not sustain any serious injuries.

As of publication, it is uncertain what sort of punishment the boy will receive. He has been cited for a laundry list of violations and misdemeanors including driving without a license, failure to maintain control, hit-and-run, and no insurance. Unfortunately, this is not the first time that he has tried to get the car from his mom. Police Capt. Bernie Walther told ABC affiliate KCRG, “He has grabbed her keys before and tried to do this, but this is as far as he’s ever gotten.”

At Approved Loan Store, we know that our customers aren’t always looking for a new car under the best of circumstances. Whether it is a challenging credit situation, a recent car accident, or a tot taking the family car for a joyride, we want to make the car buying process as easy as possible. If you’re looking to get into a new or used car, fill out our secure online auto loan application here, and get the latest auto and credit news 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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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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Maritz Research: Over 1 in 10 Car Buyers Skip Test Drive

Once upon a time, car shopping looked very different than it does now. Car buyers would read magazines and consumer reports, go into several dealerships, and test drive different models until they found “the one.” The internet has changed the car buying process with online reviews for dealerships and models as well as online auto loan services like Approved Loan Store. Aside from test drives and signing the deal, consumers can pretty much go through their entire car shopping experience before they even set foot in the dealership.

For the most part, we at Approved Loan Store like this development. We are constantly striving to make the car buying process simple, even for consumers with difficult credit situations. Unfortunately, some consumers are cutting out an important step in the car buying process: the test drive. A recent study from Maritz Research shows that 11.4 percent of car buyers in 2012 did not take a test drive before purchasing the car. Out of the buyers who did take a test drive, nearly 10 percent scheduled the test drive online.

What does this mean? Well, over 1 in 10 consumers relied entirely on online reviews, word-of-mouth, or previous experience with the car such as a rental. They didn’t get behind the wheel of the car before buying it. While we are all for a quick-and-easy car buying experience, we at Approved Loan Store find this trend a bit distressing. We would rather see car buyers trying a vehicle out instead of completely relying on someone else’s word. Besides that, different drivers have different needs, and that is why a test drive is so essential. A mini-van or SUV might seem huge to a single person or a couple, but a family with young children might notice after a test drive that the back seat on the particular model doesn’t fit comfortably with several car seats and a diaper bag. By skipping the test drive, a car buyer could end up paying for the wrong car.

With Approved Loan Store, we want to get you into the car that is right for you at terms you can afford!  Fill out our secure online auto loan application here, and come in to take a test drive and meet with our special finance representative! Also, you can 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!

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