Tag Archives: economy

Summer Sales Keep Chevy Cruze Factory Open

Summer 2013 is almost over, and there is no denying that it has been a great summer for the auto industry. Sales are up, payment delinquencies are down, and automakers, including GM, have added weeks of production to keep up with demand for their most popular vehicles.

This week, General Motors announced that their factory in Lordstown, Ohio would be staying open an extra week. The factory, which produces the Chevrolet Cruze, would have been closed the week of August 26, but the Cruze’s U.S. sales have gone up 24 percent from January through July 2013. At the end of the July, there was only a 50-day supply for the Cruze.

GM spokesman Annalisa Bluhm explained that due to “brisk” sales, they had every reason to keep the factory open another week. “We didn’t want to lose momentum, so we decided to abstain from taking the week off.” Brisk is an understatement with 25,477 vehicles sold in July alone.

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 Repos, Delinquencies Rates Down in 2013

A new report from Experian Automotive shows that Americans are maintaining and even improving on keeping up with their auto loan payments.

In the second quarter of 2013, only 0.36 percent of vehicles were repossessed for non-payment, a 14.8 percent drop from the first quarter’s rate of 0.43 percent. 30-day late payments are also steadily dropping, and in the second quarter of 2013, 30-day late payments hit their lowest number since 2006 when Experian Automotive began following delinquencies and repossessions.

Interestingly enough, over a third of open vehicle loans in the second quarter of 2013 consisted of nonprime, subprime, and deep-subprime loans. One might expect that with so many subprime lenders there would be more delinquencies and repossessions, but Experian’s statistics from the second quarter tell a completely different story. For this reason, banks and lending institutions are more willing than ever to approve auto loans for consumers with subprime and deep-subprime credit.

Whatever your credit situation, Approved Loan Store wants to help YOU get into the car you want at terms you can afford! 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 jscreationzs / FreeDigitalPhotos.net

Nissan Prices Altima Under $23,000

The Nissan Altima has gone through a major overhaul for the 2014 model, and Nissan is finally able to announce the pricing on one of their most popular vehicles.

Starting price for the Altima ranges from $22,650 for the Altima 2.5 up to $31,450 for the Altima 3.5 SL. Standard features on the Altima 2.5 include the Advanced Drive-Assist Display, Nissan Direct Ignition System, Bluetooth hands-free phone system, push button ignition, power windows and door locks, and Vehicle Dynamic Control (VDC) with Traction Control System (TCS). There are additional audio, technology, and navigation packages available for certain models and a wide range of optional features for an additional cost.

The 2014 model has a lot to live up to considering how the 2013 Nissan Altima was received. Edmunds named the 2013 Altima as their Top Recommended Sedan under $25,000, and the National Highway Traffic Safety Administration (NHTSA) gave the Altima a five-star overall rating in their New Car Assessment Program (NCAP). After glancing through the features list and the photos Nissan has released so far, it is safe to say that probably won’t be a problem.

Are you looking to get into a Nissan Altima? How about a Chevy, Chrysler, or Kia? No matter what you are looking for, 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.”

Auto Loan FAQ: How is My Credit Score Calculated?

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 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.

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

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!

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

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

GM Announces World’s Most Efficient Car, Only Available in California and Oregon

This week, there is some really good news and some bad news from General Motors.

We will give you the good news first. The new 2014 Chevrolet Spark EV has been getting some very positive press from The Car Connection as well as Auto Blog and Car and Driver. Critics are praising the Spark’s powerful motor, smooth ride, and affordable price with all the tax breaks available.

Now, the bad news is that the new Spark is only available in California and Oregon. It is not clear if or when the 2014 Chevrolet Spark EV will be available throughout the rest of the country, but if there is enough demand across the country, GM might be convinced to expand to the rest of the United States. Personally, I love the thought of never having to pay for gasoline ever again, and considering the reviews, I would like to take the Spark for a drive myself.

If you’re looking for a more fuel efficient vehicle today, Approved Loan Store wants to help you, no matter what your credit situation. 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!