Tag Archives: Car Loan

CONSUMER ALERT: GM Recalls Trucks, Vans for Roll-Away Problem

Over the weekend, GM announced a recall of approximately 69,000 2013-model full-size trucks and vans including the Cadillac Escalade and Chevy Silverado.

According to General Motors, there has been a problem with these vehicles shifting out of park and rolling away. They believe the problem could be defective transmission interlocks, but GM has also said that the problem could be due to a fractured park-lock cable or a deformed steering –column lock-actuator gear.

Recalled vehicles include:

  • Cadillac Escalade
  • Chevrolet Avalanche
  • Chevrolet Express
  • Chevrolet Silverado
  • Chevrolet Suburban
  • Chevrolet Tahoe
  • GMC Savana
  • GMC Sierra
  • GMC Yukon

Fortunately, most of the vehicles affected by the recall are still on dealer lots since they are 2013 models, but any car owners affected by the recall will be contacted by GM about replacing the vehicle’s steering column for no charge. If you think your vehicle might be affected and have not heard from GM, you can call 1-800-630-2438 for Chevrolet vehicles, 1-866-982-2339 for Cadillacs, and 1-866-996-9463 for GMC vehicles.

For the latest consumer alerts, auto news, and car buying tips, be sure to like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube. Looking for 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 rates you can afford! Get started by filling out our secure online auto loan application here.

New Car Financing: Average Fuel Economy Hit New Height in 2012

If you purchased a new vehicle in 2012, you most likely chose a vehicle with higher fuel economy than any of your previous cars.

On Friday, researchers from the University of Michigan released data on the average fuel economy of new vehicles sold since October 2007. They found that fuel economy has gone from 20.1 mpg to 23.9 mpg, a 19 percent improvement in a five year period.

To be clear, this doesn’t mean that SUVs or minivans have suddenly become 19 percent more fuel efficient. The overall average is affected by car buyers gravitating towards mid-sized sedans, compacts, and minicars instead of larger vehicles. Within this group, hybrid vehicles like the Prius and Volt are also doing very well even as electric cars are struggling.

Readers, we want to hear from you! When you’re looking for a new car, how important is fuel efficiency? Will you get a compact or a hybrid vehicle for your next car? Leave a comment below, and let us know what you think!

Are you looking for a new or used car? Approved Loan Store wants to help you! Good credit, bad credit, no credit, we will work with you to get the 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!

Image courtesy of supakitmod / FreeDigitalPhotos.net

UPDATE: NHTSA Pushes Back Standard Rear-View Cameras

Back in March last year, we reported that the National Highway Traffic Safety Administration (NHTSA) would make rear-view cameras a standard feature in all vehicles. Unfortunately, it looks like the NHTSA will be delaying the adoption of that rule for a while yet.

According to Autoblog, automakers were supposed to have rear-view cameras in a minimum 10 percent of their cars by 2012, 40 percent by 2013, and 100 percent of all vehicles by 2014. Right now, automakers are not on track to make those numbers, mainly because automakers have complained about the cost of making these cameras standard.

How much do these cameras cost automakers? Well, many cars currently come with display screens, and for those vehicles, the upgrade to a rear-view camera system is only $58 to $88. Vehicles that don’t have display screens, however, will cost $159 to $203 to upgrade. Consider, however, that back-over accidents cause an average of 183 fatalities and up to 7,419 injuries every year. Perhaps the cost of an upgrade is one that consumers and automakers should be willing to pay.

Readers, what do you think? Do you have a rear-view camera in your car, and do you think rear-view cameras should be mandatory? Leave a comment below, and let us know what you think!

Are you looking for a new or used vehicle? Approved Loan Store can help you! Good credit, bad credit, no credit, we want to work with you to get you the 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!

Discolor Tyre Reminds Drivers to Change Worn Tires

Are you unsure if your car needs new tires? A new product called the Discolor Tyre will take the guesswork out of deciding to change your tires.

The concept is so simple that I am surprised it took so long for someone to create it. A Discolor Tyre looks like any normal tire at first, but with use, the top layer is rubbed away to reveal an orange color underneath. When the driver sees that orange color, they know that they need to change their tires.

Knowing when to change your vehicle’s tires is a safety issue. Worn-out tires put a car at higher risk for hydroplaning and traction issues. Besides that, it is a legal issue. Most states require that drivers change their tires when they are worn down to 1.6mm of the remaining tread depth. With the Discolor Tyre, drivers will have one less car maintenance requirement to worry about because the tire will remind them when to change it.

Readers, we want to hear from you! What do you think of the Discolor Tyre? Do these tires mean the end of the tried-and-true penny test? Leave a comment below, and let us know 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 will work with you to get you the 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!

Approved Loan Store – Now On Google+ Community!

We are happy to announce that Approved Loan Store is now on Google+ Community! With our Google+ Community, you can get the latest news from Approved Loan Store, give us feedback, and connect with other Approved Loan Store customers!

Check out the Approved Loan Store on Google+ Community here.

IIHS Awards 2013 Top Safety Picks

Late last month, the Insurance Institute for Highway Safety (IIHS) announced the 2013 Top Safety Pick+ and Top Safety Pick honorees, its top award for vehicle safety. 13 vehicles were dubbed a Top Safety Pick+ and 117 vehicles were named a Top Safety Pick.

Earning a Top Safety Pick+ is not an easy task. In order to earn a Top Safety Pick+, the vehicle has to receive good ratings for occupant protection in a minimum of 4 out of the 5 evaluations which include a moderate overlap frontal crash, small overlap frontal crash, side impact, and rollover as well as evaluations that measure how effectively seat/head restraints prevent neck injuries. If they receive 4 “good” ratings, the fifth evaluation must earn at least an “acceptable” rating. To earn a Top Safety Pick, the vehicle has to receive good ratings on the moderate overlap frontal test, side impact, rollover, and rear tests.

Here are the 2013 Top Safety Pick+ honorees.

Acura TL
Dodge Avenger
Chrysler 200 sedan
Ford Fusion
Honda Accord coupe
Honda Accord sedan
Kia Optima
Nissan Altima sedan
Subaru Legacy
Subaru Outback
Suzuki Kizashi
Volkswagen Passat
Volvo S60

Click here see the additional 117 vehicles chosen as IIHS 2013 Top Safety Picks.

Are you looking to get into a newer, safer vehicle? Approved Loan Store can help! Good credit, bad credit, no credit, we want to get you into a car you want at rates 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!

Young Car Enthusiast and “Connor’s Day” Namesake Passes Away

One of our favorite news stories of last year was the story of Connor Harrison, an 11-year-old British car enthusiast. Connor was terminally ill due to an inoperable brain tumor, and his father was worried that Connor would not live long enough to go to a car gathering, something Connor had wanted to do for quite some time. Instead of giving up, though, Connor’s father posted his story on the car forum ScoobyNet with the idea that he could organize a car gathering of his own in Yorkshire. The story went viral within the car enthusiast community, and thousands of people pledged to attend “Connor’s Day.”

Sadly, Jalopnik is reporting today that Connor passed away just before Christmas. His funeral service was on Christmas Eve.

Connor’s story is a tragedy. He was only 12 years old when he passed away, and it seems unfair that a young boy who loved cars did not live long enough to get the chance to have a first car. At the same time, this was one of our favorite stories of last year because it was a perfect example of the camaraderie in the car enthusiast community. It showed what human beings will do for a total stranger and his family, and we can only hope that 2013 will bring more random acts of kindness in the news cycle.

You can read our original coverage of Connor’s day here and here, and get 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.

Picture Source: Connor’s Day

Consumer Reports: Best Value Cars of 2012

When shopping for a car, it is important to look at the long-term value of that car. As 2012 comes to an end, Consumer Reports has released its list of the top vehicles that will retain their original value, and they chose an overall best value from the wide range of vehicles on the market last year. Needless to say, Toyota was very happy with the results.

Here is a full rundown of the winners.

Overall Best Value – Toyota Prius
Small Hatchback – Toyota Prius Four
Small Sedan – Toyota Corolla LE
Family Sedan – Toyota Camry Hybrid XLE
Upscale Sedan – Acura TSX (I4)
Luxury Sedan – Cadillac CTS
Sports Car/Convertible – Mini Cooper
Wagon/Minivan – Toyota Prius V Three
Small SUV – Honda CR-V EX
Midsize SUV – Toyota Highlander Limited (V6)
Large/Luxury SUV – Lexus RX350

Across the board, Toyota Motor Company was the clear favorite taking 7 of the 11 categories with the Lexus RX350 included, and none of Toyota Motor Company’s vehicles made the Worst Value list. No other automaker even came close to that level of excellence. Better yet, many of the vehicles featured on the list are hybrid vehicles or have an extremely good fuel economy, so consumers are saving money at the pump.

Do you want to check out these cars for yourself? Approved Loan Store can help you! We have a huge range in our inventory whether if you are looking for more power, greater value, or just something reliable. Get started by filling out our secure online auto loan application here, and get more 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!

Auto Loan: Chevy Volt Gets Top Customer Rating for Second Year

It is the ultimate goal of every automaker to produce a car that drivers love so much that they would buy it again for their next car. I would guess then that GM is very happy this week as the Chevy Volt has, for the second year in a row, received the highest user satisfaction rating from Consumer Reports.

93 percent of Volt owners stated that they would buy a Volt again. The Volt beat out the popular Dodge Challenger and Porsche 911 which both received a 91 percent rating.

Some of the other top vehicles of the year were the Volkswagen Golf TDI at 80 percent, Toyota Camry Hybrid at 87 percent, Audi A7 at 90 percent, Toyota Prius V at 83 percent, and the Jeep Grand Cherokee V8 at 81 percent.

Readers, we want to hear from you! Does the Chevy Volt’s satisfaction rating from Consumer Reports make you more likely to buy a Volt? What cars have you loved so much that you would purchase them again? Leave a comment below, and let us know what you think!

Are you ready to get into a new or used car? Approved Loan Store can help you! 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 for more auto news and buying tips, check out Approved Loan Store on Facebook, Twitter, and YouTube!

New Car Financing: 2013 Chevy Cruze Introduces Safer “Smart” Airbags

When looking for a new or used car, the price, features, and comfort are all taken into consideration, but at the end of the day, I want to know that the car I am buying will keep me safe.

With that in mind, GM has announced that the 2013 Chevrolet Cruze will come with a “smart” airbag as a standard feature. Typical airbags can actually cause injury to the driver if they are not seated the proper distance from the front airbag, but these new airbags use a flexible vent so that the driver’s momentum will push the air out.

GM General Director of Vehicle Safety Gay Kent has praised the new airbag as a “smart way to manage crash forces,” and GM is marketing it as an “industry first” in safety technology.

When it comes to airbag injuries, it is important to remember that airbags are most effective when passengers are wearing their seat belts. The large majority of airbag injuries occur when the driver or passenger was not wearing a seat belt, and even with the new technology in Chevy’s airbag system, it will not work properly if seat belts are not worn.

Are you ready to get into a new or used car? Approved Loan Store can help you! Good credit, bad credit, no credit, we will work with you to get you into a car you want at terms you can afford! Fill out our secure online auto loan application here, and for more auto news and buying tips, be sure to like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!