Tag Archives: credit

Auto Loan FAQ: What Kind of Car Can I Get Through The Approved Loan Store?

At Approved Loan Store, we work with a wide range of customers every day. For some of them, they have gone through the car buying process before, and this is their second or third car. For others, however, we are helping them purchase their first car. Buying your first car with good credit can be intimidating, but buying your first car with poor credit or no credit can be downright frustrating. Over the next few weeks, we will answer some of our most-asked questions here on the blog, and we encourage our readers to comment below with any other questions you would like us to address!

Question: I just set an appointment to come into the Approved Loan Store, and I looked up the dealership online. It doesn’t look like they have a car in their inventory that I want to buy. Do I need to reschedule for a different location?

Answer: Good news – You don’t have to reschedule! Approved Loan Store works with a whole network of dealerships, so we can get any make or model you can think of. We match you based on the closest Approved Loan Store location to you so you don’t have to travel unnecessarily far. Remember that you are working with the Approved Loan Store, not just that one dealership.

When you come to your appointment, let your Special Finance Representative know what make and model you are looking to buy. If we don’t have that vehicle on-site, we can pull it from one of our other locations. We want you to leave with a car you want at terms you can afford, so make sure to bring all your proper documentation and we will take care of the rest!

Still have questions about our program? Give us a call toll-free at 877-217-2217, or visit us online at www.ApprovedLoanStore.com. You can also get more car buying and credit 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 digitalart / FreeDigitalPhotos.net

Nominees for North American Car and Truck of the Year Announced

It is that time of the year again. The long list for the 2014 North American Car and Truck of the Year awards have been released, and GM should be feeling pretty good right now.

29 cars and 18 truck/utility vehicles are being considered for the awards. At the end of the year, 50 automotive journalists will vote on 5 cars and 4 trucks to go on to the semi-finals, and the numbers will be trimmed down to 3 cars and trucks/utilities for the final round.

Winners won’t be announced until the 2014 North American International Auto Show next January, nearly half a year from now, which gives plenty of time for speculation. Last year, the Cadillac ATS and Ram 1500 took home the top prizes, and GM is looking pretty good this year with 2 Cadillacs, 5 Chevrolets, and 1 GMC on the list. Still, there are 29 cars and 18 truck/utility vehicles battling it out for the top honors, and the winners have to survive 3 rounds of voting. There is a definite possibility for a few surprises before next January.

Check out the full list below.

2014 Car of the Year

2014 Acura RLX
2014 BMW 4 Series
2014 Cadillac CTS
2014 Cadillac ELR
2014 Chevrolet Corvette
2014 Chevrolet Impala
2014 Chevrolet Spark EV
2014 Chevy SS
2014 Fiat 500L and E
2014 Honda Fit EV
2014 Infiniti Q50
2014 Jaguar F-Type
2014 Kia Cadenza
2014 Kia Forte, 5-door, Koup
2014 Kia Soul
2014 Lexus IS
2014 Maserati Ghibli
2014 Mazda3
2014 Mazda6
2014 Mercedes-Benz B-Class
2014 Mercedes-Benz CLA-Class
2014 Mercedes-Benz E-Class
2014 Mercedes-Benz S-Class
2014 Mini Paceman
2014 Mitsubishi Mirage
2014 Nissan Versa Note
2014 Porsche Cayman/Cayman S
2014 Smart fortwo electric
2014 Toyota Corolla

2014 Truck/Utility of the Year

2014 Acura MDX
2014 BMW X5
2014 Buick Encore
2014 Chevrolet Silverado
2014 Ford Transit Connect / Wagon
2014 GMC Sierra
2014 Hyundai Santa Fe LWB
2014 Jeep Cherokee
2014 Kia Sorento
2014 Land Rover Range Rover Sport
2014 Mitsubishi Outlander
2014 Nissan Rogue
2014 Nissan NV200 Compact
2014 Ram 2500/3500
2014 Subaru Forester
2014 Toyota Tundra
2014 Toyota RAV4

From Toyotas to Kias, Chevys, and more, Approved Loan Store wants to find you the car you want at terms you can afford! Are you finally ready to get into a great new or used car? Get started today by filling out our secure online auto loan application here, and 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!

Chevy Volt Priced Under $35,000

Car shoppers who have been looking at the Chevy Volt will have 5,000 more incentives to buy now.

This morning, Chevrolet announced that the starting price of the 2014 Volt would be cut from $39,995 down to $34,995. Adding on federal tax credits, the starting price could be as low as $27,495, and with a fuel economy of 35 city/40 highway, drivers will save hundreds of dollars on gas every year.

Chevrolet’s leadership has made a point of emphasizing advancements in the Chevy Volt in recent years including an increased battery range and a more comfortable interior. With the new price cut, they are hoping that car shoppers on the fence about the Volt will finally take the plunge and that car shoppers who are not looking at plug-ins or hybrids will check out the Volt.

In a press release, Chevrolet’s U.S. Vice President of Sales and Service Don Johnson said the price cut would give drivers “an unmatched balance of technology, capability and cost of ownership” with “the same impressive list of features, but for $5,000 less.”

From Chevys to Kias and Mazdas, Approved Loan Store wants to find you the car you want at terms you can afford! Are you finally ready to get into a great new or used car? Get started today by filling out our secure online auto loan application here, and 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!

Auto Loan FAQ: How is My Credit Score Calculated?

Question: I want to improve my credit score. What is my credit score based on?

Answer: A credit score is based on a number of factors including length of credit history, payment history, credit utilization (credit used compared to credit available), and variety of credit. To have an optimal credit score, a person needs to show the ability to obtain credit and make payments on time. They need to have a variety of accounts such as credit cards, auto loans, mortgages, or other personal house loans because it shows they can budget and manage several accounts at once.

Improving a credit score takes time, patience, and careful planning, but we have two tips we would like to recommend for improving a credit score. First, pay down your credit cards. This will lower the overall credit utilization and boost the score. Second, add some variety to your accounts such as an auto loan with the Approved Loan Store. We work with clients who have subprime credit every day and help them get an auto loan at terms they can afford. If you make your loan payments and all other payments on time, the credit bureaus will see another positive account, and your credit will improve.

Image courtesy of digitalart / FreeDigitalPhotos.net

Toyota Takes Top Earner in Second Quarter

With the quarterly profits now in for the auto industry, Toyota can claim bragging rights for the top quarterly profits as well as the world’s largest automaker.

Currently, Toyota is predicting that their full-year global production will be over 10 million vehicles after earning $5.5 billion during the second quarter. This was a 94 percent increase in profit compared to the second quarter in 2012.

North America, Oceania, Africa, and Central and Southern America all had increases in Toyota sales. In North America, sales increased 26,309 units, and Oceania, Africa, and Central and Southern America’s sales increased 28,106 units. The only regions where Toyota did not perform well were in Europe where sales decreased by 16,336 units and in Asia where sales decreased by 23,890 units.

According to Autoblog, the sales jump can be attributed to the popularity of the Camry which officially sold its ten-millionth vehicle last month.

From Toyotas to Rams and Chevys, Approved Loan Store wants to find you the car you want at terms you can afford! Are you finally ready to get into a great new or used car? Get started today by filling out our secure online auto loan application here, and 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!

Mobile App Follows Driving Habits

Mobile apps today can track everything from calorie intake to running distance, and now a new app is available to track driving habits (and offer helpful suggestions for improvement).

Mobile apps like Dash and Automatic connect to the Onboard Diagnostics port and then give information back to the driver. There isn’t much information on Dash yet, but their website promises that the app will “make the roads safer, more affordable, and much more social.” Pictures of the app in use show a “Dash Score” out of 100 as well as miles driven and saved trips. Automatic, on the other hand, has an extensive rundown of features including tips for better fuel efficiency, crash alerts, and even a tracker that remembers where the car is parked.

The upside is that the driver or a teen driver’s parent can keep track of their driving habits, such as rough braking, speeding, and rapid acceleration. The downside is that insurance companies could later use this information to jack up insurance costs, and government agencies could potentially have access to this information as well.

Our recommendation is before downloading any driving apps or installing any car trackers, take a few minutes to read through their terms of use and privacy policy. If you are uncomfortable with any way that they plan to use your information, then don’t download the app.

Are you looking for a safer car or one with better fuel efficiency? No matter what you’re looking for, Approved Loan Store wants to help you get in a car you want at terms you can afford! Good credit, bad credit, no credit, we will work with you! Get started today by filling out our secure online auto loan application here, and 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!

Image courtesy of jannoon028 / FreeDigitalPhotos.net

Hyundai Sells One-Millionth Santa Fe

Hyundai got to end July on a high note with the announcement that they had officially sold their one-millionth Santa Fe.

John Krafcik, president and CEO of Hyundai Motor America, announced the one-millionth sale on Wednesday. Krafcik praised the Santa Fe as being integral to Hyundai’s overall success in the United States, stating, “When the 2001 Santa Fe launched in the United States 13 years ago, not only was it Hyundai’s first SUV, but it was one of the first compact crossovers on the market – just behind Toyota RAV4 and Honda CRV. It was a bold move that paid off and helped position Hyundai as a brand that could innovate in design and package, not just value and warranty.”

Since its introduction, the Santa Fe has been well liked by drivers and critics alike. The Santa Fe received the 2013 ALG Residual Value Award, and Autobytel named the 2013 Santa Fe as their Crossover/Wagon of the Year. The Santa Fe’s success is also good for American jobs. Hyundai produces the Santa Fe at a factory in West Point, Georgia, creating thousands of jobs for the region.

From Hyundais to Ford and Chryslers, Approved Loan Store wants to find you the car you want at terms you can afford! Are you finally ready to get into a great new or used car? Get started today by filling out our secure online auto loan application here, and 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!

J.D. Power and Associates: The World’s Happiest Car

American consumers want the best of everything, especially when it comes to their cars. They walk into car dealerships with mountains of research on which car is the most fuel-efficient, the most powerful, the best car for a growing family, and so on and so forth. Interestingly enough, though, a new study from J.D. Power and Associates did not rank popular vehicles by these typical factors but rather looked at which car brand has the happiest owners.

The results of the study were based on 77 attributes. Each vehicle and brand was assigned a numerical score and then ranked on overall brand, best city car, best compact, best midsize premium, and so on. The industry as a whole came in with a score of 795, not much lower than the top-scoring brand which was the Porsche.

American brands performed fairly well in the survey with the Chevrolet Sonic winning Best Sub-Compact, Chevrolet Volt winning Best Compact, Ford Mustang winning Best Midsize Sporty Car, and Dodge Charger winning Best Large Car. Ford and Chevrolet also managed to make it into the top 5 car brands, and Chrysler and GMC made it into the top 10.

Which car makes you the happiest? Approved Loan Store wants to help you get into a car that you will love at terms you can afford, even if you have challenged credit! Get started today by filling out our secure online auto loan application here, and 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!

Image courtesy of digitalart / FreeDigitalPhotos.net

Kia Reveals Final Justice League-Themed Sorento

For the past year, Kia has been auctioning off Justice League-themed vehicles to benefit the DC Entertainment’s charity We Can Be Heroes. These specialty vehicles have included a Batman Kia Optima as part of New York Comic Con, a Wonder Woman Sportage, and five other vehicles based on Green Lantern, The Flash, Aquaman, and Cyborg.

Bringing the project full circle, Kia revealed the final Justice League vehicle at the San Diego Comic Con last week. The final vehicle was a Kia Sorento with all seven members of the Justice League featured prominently on the side of the vehicle and “Justice League” printed across the hood of the car. Inside, each seat is themed around a Justice League member with Superman in the driver’s seat. Famed comic book writer and artist Jim Lee designed the vehicle.

Bidding for the Sorento ends today, and with 18 bids, the Sorento is currently going for $38,100. To bid on the Sorento or any of the other auction items, go to http://stores.ebay.com/we-can-be-heroes.

From Kias to Chryslers, Mazdas, and more, Approved Loan Store wants to find you the car you want at terms you can afford! Are you finally ready to get into a great new or used car? Get started today by filling out our secure online auto loan application here, and 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!

Auto Loan FAQ: How Can I Pull My Credit Report?

Question: I have no idea what is on my credit report. How can I get a copy of my credit report?

Answer: The best and easiest way to get a copy of your credit report is through AnnualCreditReport.com. You can pull a free copy of your Equifax, Experian, and TransUnion credit reports, and if you want to view your credit score, they give you the option to purchase the score for a reasonable price.

Past delinquencies, unpaid accounts, and public records can all affect your credit health, and as a result, you might have to pay a higher interest rate than someone with a good or above-average credit score. Reviewing your credit report gives you the chance to catch any mistakes and set the proper expectations for yourself as you move forward in purchasing your vehicle. If your credit has suffered in the past, it might be a better idea to buy a lower-cost used car and make all payments on time. As you make your payments on time, you will establish a positive recent credit history, and then you can trade it in later for a new vehicle at a lower interest rate.

Image courtesy of digitalart / FreeDigitalPhotos.net