As lenders are taking a second chance on credit-challenged consumers, lenders are being rewarded with the lowest level of late payments in over a decade.
60-days and higher late payments on auto loans in the first quarter of 2012 were at .36 percent, a 22 percent drop from the last quarter of 2011. It is also the lowest rate recorded since 1999 when TransUnion started following auto loan late payments.
Analysts have been noticing a drop in auto loan delinquencies since February this year, and it is encouraging that there has been a continued drop in delinquencies even as lenders are taking a chance on consumers with less-than-perfect credit. This is exactly why Approved Loan Store exists. We know that millions of Americans have survived tough circumstances in the last few years, but if they get the opportunity, they can make their payments on time and rebuild their credit with an auto loan. All they need is the chance to prove it.
No matter what your credit situation, Approved Loan Store wants to help you get into a car! Fill out our secure online car loan application here, and keep up with the latest news and trends from the auto industry by liking Approved Loan Store on Facebook and following Approved Loan Store on Twitter!
As car purchases are going up, car buyers are taking their time paying off their car loans.
Recently we put together an 
Gas has been something we’ve covered here in the past. Gas prices of late have been dropping, but for many months, it was one of the biggest topics on people’s lips. With the economy still slowly recovering, many people have taken the cost of filling up a car into consideration of purchasing a vehicle. There’s been a lot of debates over this subject, one that we covered was the idea of purchasing a hybrid over a normal car with the expectation to save money on gas. No matter which side you fall on, however, it’s no question that the average consumer thinks about the price of fueling up.
Earlier this week, we told you how rising airline ticket prices were pushing families to reconsider road trips for their summer vacations. Well, apparently we aren’t the only ones who see the road trip making a come-back.
News for the airline companies of late hasn’t been the best. The headlines have been negative for both the airlines themselves and for their customers. It’s been bankruptcies or charging more for checking luggage or just the introduction of fees just to store your bag in the overhead. Airfares themselves are on the rise. The cost of summer flights in the US are up 3 percent on average from the past year. That’s an 18 percent increase from 2010. It’s starting to be clear that flying is no longer the go-to solution for a cheap vacation.
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.
Car shoppers looking to get a new set of wheels are doing more than upgrading their ride. They are improving the economy.
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?
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