Tag Archives: economy

2014 Chevy Impala Receives NHTSA 5-Star Safety Rating, Top Marks from Consumer Reports

Car shoppers who consider safety their top priority have another great new option among the 2014 models.

Late last week, the 2014 Chevrolet Impala received a five-star safety rating from the National Highway Traffic Safety Administration’s New Car Assessment Program. The vehicle also has the distinction of being the first American sedan in two decades to receive the top score from Consumer Reports.

How did the Impala earn such a high rating from the NHTSA? Chevrolet packed the Impala with the latest safety features including traffic-sensing radar, adaptive cruise control, crash-imminent braking, lane departure warning, and more. Additionally, OnStar will send out a call to emergency services if the vehicle is in an accident, and the rear-view camera prevents collisions when parallel parking.

Best of all, the Impala is a bargain compared to its competitors. The starting price is $26,725, and standard features include 10 air bags for the vehicle, SiriusXM and HD Radio audio system, 4.2” diagonal color infotainment display, and seat adjuster for the driver and front passenger.

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!

Auto Loan FAQ: What is a DTI?

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: What is a DTI, and what does it have to do with my approval?

Answer: DTI stands for “debt to income.” It is the amount of money owed by a person including rent, utility bills, car insurance, credit card bills, etc. compared to the income earned by that person. A person’s DTI determines how much they can afford to pay for their car each month. People with less debt and higher income will obviously have more options available. They can make a down payment or negotiate higher monthly payments for a lower interest rate.

Consumers that don’t have an optimal DTI, however, should still apply through the Approved Loan Store. Our special finance representatives have years of experience helping customers to get into cars, especially customers with challenged credit. As part of our one-on-one customer meetings, the special finance representative will explore all available options and find the best plan to suit each customer’s needs.

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!

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Nissan Leaf Quadruples Sales, Inventory Running Low

July is almost over, and with 2013 more than halfway done, it is becoming clearer that this is the year for the Nissan Leaf.

Back in March, Nissan broke sales records selling over 1,900 units that month, and for the past few months, Nissan has sold more than 2,000 units each month. The popularity of the Leaf can be attributed to the recovering economy as well as tax credits up to $7,500 and other incentives, though it seems like Nissan was even surprised that the Leaf is selling four-times its numbers from 2012.

The one downside to the Leaf’s sudden popularity is that Nissan might not have enough inventory to keep up with demand. Erik Gottfried, Nissan’s director of electric vehicle sales and marketing, recently admitted that Nissan would be running short on their Leaf inventory, stating, “It will be late fall before we can produce enough to satisfy everybody.” Car shoppers who want to pick up the Nissan Leaf before the end of the summer will want to get into a dealership as soon as possible. Otherwise, they might have to wait until this fall for Nissan to replenish their inventory.

Readers, we want to hear from you! Have you taken the Nissan Leaf for a test drive yet? With its rising popularity and the tax credits, are you more likely to research and possibly purchase it? Leave a comment below, and let us know what you think!

Summer time is here! Are you finally ready to get into a great new or used car? Approved Loan Store wants to help YOU! Good credit, bad credit, no credit, we will work with you to get a 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!

Getting an Auto Loan Approval with Low or No Credit

Here at the Approved Loan Store, people ask us every day how we help people with poor credit or no credit to get an auto loan, particularly if they have been turned down at banks or dealerships. In today’s blog, we will shed some light on our program’s requirements and why meeting each of the requirements improve the chance of getting approved.

To qualify for the Approved Loan Store’s auto buying program, applicants must fulfill the following requirements.

Valid driver’s license
United States citizen
18 Years of Age or Older
Verifiable income of $1800/month minimum
Steady employment
No open bankruptcy

The first three requirements should be fairly obvious. Without a driver’s license, it is impossible to drive any purchased vehicle. Also, any lender will require documentation proving age and citizenship, so this is nothing out of the ordinary for any consumer getting an auto loan.

Consumers are usually most interested in the last three requirements. First, our customers need a verifiable income of $1800 so they can prove they are capable of paying an auto loan. W-2 workers only need to bring in pay stubs proving their income, but self-employed workers will need their tax filing paperwork from the past 2 years which has been prepared by a professional. Without the pay stubs or tax documents, the special finance representatives cannot verify your income, and the car buying process cannot move forward. Steady employment goes hand-in-hand with our income requirement. If the consumer cannot prove steady employment over the past year, a lender will be unlikely to approve their auto loan.

Finally, consumers with open bankruptcies cannot qualify for our program. When someone declares bankruptcy, it means that they cannot pay their debts. Banks are not going to approve an auto loan for a consumer who has stated that they cannot pay their current debts. A consumer who has declared bankruptcy cannot apply for an auto loan until the bankruptcy is discharged.

Image courtesy of digitalart / FreeDigitalPhotos.net

Georgia Plant Assembles One-Millionth Kia Vehicle in U.S.

Kia is still considered an up-and-coming car brand in the United States, but the Korean automaker hit a major milestone this week, producing their one-millionth vehicle in the United States.

The one-millionth vehicle was a snow white pearl 2014 Sorento SXL assembled at Kia’s manufacturing plant in West Point, Ga. Since the plant opened in 2009, it has created more than 11,000 jobs for the region, and today the plant produces the Kia Optima and the Kia Sorento for hundreds of dealerships across the country.

Byung Mo Ahn, Group president and CEO for Kia Motors America and Kia Motors Manufacturing Georgia, had nothing but praise for the West Point workers, stating, “People are the heart and soul of this company, and our team members’ commitment to world class quality is one of the major driving forces behind Kia’s unprecedented sales and market share growth in the U.S. over the last few years.” He also called the one-millionth vehicle milestone “a tremendous achievement” which Kia “can take great pride in.”

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!

New Car Financing: 2014 Versa Note Price Under $15,000

Nissan has recently announced the pricing on the 2014 Versa Note, and car shoppers on a limited budget will be happy to hear that the base price is still very low.

According to Nissan, the 2014 Nissan Versa Note has base price of $14,780 which includes shipping. This is actually a price drop compared to the 2012 Versa hatchback which started from $15,450, shipping included. The new Versa Note will have a fuel economy of 36 mpg highway, 27 mpg city and come standard equipped with a trip computer, speed-sensitive volume control, Nissan’s Advanced Air Bag System, Vehicle Dynamic Control, and AM/FM/CD audio system with auxiliary audio input jack.

The only real downside to the new Versa Note is that it loses some power over the 2012 Versa hatchback. For an economy car, though, it is hard to complain about the list of features that come standard and the price for a new car.

Readers, we want to hear from you! What do you think of the 2014 Nissan Versa Note? Would you take it for a test drive? Leave a comment below, and let us know what you think!

Consumer Reports: Speeding Lowers Vehicle’s Fuel Efficiency

Do you want to improve the fuel economy of your car today? According to Consumer Reports, all drivers need to do is follow the speed limit.

Consumer Reports recently conducted a series of tests which measured the fuel economy of the Honda Accord four-cylinder, the Toyota RAV4, and three different Ford Fusion models. Each car’s fuel economy was measured driving at 55, 65, and 75 miles per hour. Every single car that they tested had a better fuel economy at 55 mph vs. 75 mph, and every car also exceeded their fuel economy estimates when the car was driven at 55 mph.

Speeding on the highway might be tempting, especially when in a rush, but drivers end up paying more both at the pump and in speeding tickets. At Approved Loan Store, we recommend following the posted speed limits. By following the speed limits, you are making the roads safer and putting wasted gas money back in your pocket.

Image courtesy of Paul / FreeDigitalPhotos.net

Mazda’s Regenerative Brakes Promise Better Fuel Economy

About a month ago, Ford claimed that their regenerative braking system could recapture up to three-times the kinetic energy of their competitors’ systems. Mazda is putting that claim to the test with their new regenerative braking system, the Mazda i-ELOOP.

While normal brakes use friction to slow and stop the vehicle, regenerative brakes reverse the vehicle’s electric motor, recapture the kinetic energy, and put that energy back into the vehicle’s battery to power the headlights and climate control. The Mazda6 doesn’t have to use as much fuel to power these systems, and the vehicle earns a higher fuel economy.

According to Mazda, a 2014 Mazda6 equipped with i-ELOOP will achieve 28 city/40 highway/32 combined mpg, an improvement on the typical 2014 Mazda6 which has a highway fuel economy of 38 mpg. Unfortunately, i-ELOOP is not standard on the Mazda6 and is only available with the GT Technology Package, so car shoppers considering the Mazda6 will have to pay more for it. Still, the savings on gas might make the expense of the i-ELOOP worth it in the long run.

Toyota Sells 3 Millionth Prius Worldwide

Last week, Toyota announced that 3 million Priuses have been sold worldwide.

It has been 16 years since the Prius was first launched and a whole decade since the introduction of the second generation Prius. In 2009, Toyota introduced the third and most recent generation Prius which produces only 89 g CO2 per km.

The Toyota Prius, one of the first and most popular widely-available hybrid vehicles, also has the distinction of receiving the NHTSA 5-Star Overall Safety Rating. Kelley Blue Book rated it a 9.1 out of 10, and Edmunds awarded it a 4.9 out of 5-star rating.

At the time of publication, the starting price for the 2013 Prius is $24,200. Standard features for the 2013 Prius Two include LED daytime running lights, climate control, UV reduction glass windshield, touch-screen audio player with iPod connectivity, fuel consumption history and rear spoiler with LED center high-mount stop lights.

Study: Detroit Has the Country’s Most Patriotic Car Buyers

The 4^th of July has now come and gone, but CarGurus.com wanted to know which major cities were buying “patriotic” cars, or American brand cars, all year round. Read on to find out which cities fared the best and worst.

In Detroit, MI, 67.8 percent of car shoppers were looking for cars produced by General Motors, Ford, or Chrysler, a higher percentage than any other city. Coming in number 2 was Cleveland, OH, followed by Indianapolis, IN, St. Louis, MO, and Kansas City, MO.

Unfortunately, New York, NY did not perform well at all. New York came in number 4 in the Bottom 10 Cities list released by CarGurus.com. Only 39.8 percent of car shoppers were looking for American brand cars while 30.7 percent were considering Asian brands and 29.5 percent were considering European brands.

No matter what kind of car you are looking for, from Chryslers to Volkswagens, Approved Loan Store wants to help YOU! Good credit, bad credit, no credit, we will work with you to find 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 Felixco, Inc. / FreeDigitalPhotos.net