Tag Archives: features

Prices on 2011, 2010 Vehicles Projected to Drop in June

Car shoppers who have held off on buying so far this year should strongly consider buying in June.

The National Auto Dealers’ Association, or NADA, released findings today that showed the prices on used cars have consistently dropped from May to June. Depending on the vehicle, consumers can save anywhere from $300 up to $900 on 2009, 2010, and 2011 models. Even better, some of the cars that NADA examined are fuel-efficient vehicles like the 2011 Toyota Prius, and for the majority of car buyers, fuel economy is the most important factor in choosing a new car.

For people looking for a new or used car, it seems like the stars are aligning. Lower interest rates, more loans specifically for those with challenged credit, greater flexibility with the loan length, and now, the price of used cars is dropping. Car shoppers have fewer and fewer excuses for not taking the plunge and getting that new or used car.

If you are looking to get in on June’s lower prices, Approved Loan Store can help! Fill out our secure online auto loan application here, and keep up with the latest trends in the auto industry by liking Approved Loan Store on Facebook and following Approved Loan Store on Twitter!

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Car Repair: Avoid This Costly Pitfall

At Approved Loan Store, we are always on the look-out for ways for our readers to save money on their new or used car. Oftentimes, though, we focus too much on the initial purchase of the car and don’t consider other long-term expenses associated with that car like insurance or maintenance. We saw this tip from CBS News today and wanted to share it with our readers so they can avoid this costly car maintenance mistake.

Some car dealerships are offering dealer service contracts as part of the car loan agreement. While these agreements do vary (and there are some good service contracts available), some of these service contracts are not worth the money. The contracts are usually more than twice the cost of routine maintenance, and even if the car runs into other problems, the contract might not cover the costs.

Once again, these rules do not apply to every dealer service contract, and depending on the circumstances, it could be the right choice for some car buyers. As always, we recommend reading over the agreement carefully, and don’t be afraid to ask questions. This is a financial obligation, and you want to make sure that it is worth the cost.

To learn more about buying and maintaining your car without breaking the bank, like Approved Loan Store on Facebook and follow Approved Loan Store on Twitter. If you’re looking for a fast and easy way to get into a new or used car, Approved Loan Store can help, no matter what your credit! Fill out our secure online auto loan application here!

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Lenders Allocate More Funds to Credit-Challenged Car Loan Applicants

As the country continues to recover economically, lenders are wooing consumers with better rates on auto loans, even for consumers with challenged credit.

According to Experian Automotive, lenders across the country have allocated more money to sub-prime auto loans while also cutting interest rates across the board and relaxing the terms of repayment. Experian Automotive called the trend “good for everyone,” and analysts hope that by relaxing the loan terms, the auto industry will continue boosting the overall economy.

Some have expressed the concern that if lenders relax their standards, unreliable people will get auto loans and won’t make their payments. The funny part about their theory, though, is that late payments are currently at their lowest rate in over a decade even as the industry is lending to consumers with challenged credit. It goes to show you that there are plenty of consumers who have run into problems in the past but are ready to rebuild their credit through an auto loan.

With interest rates down and better terms available, it has never been a better time to buy! Approved Loan Store wants to help you get into a car, no matter what your credit situation. Fill out our secure online auto loan application here, and you will hear from an Approved Loan Store representative in 24-48 hours. You can also keep up with the latest news and trends in the auto industry by liking Approved Loan Store on Facebook and following Approved Loan Store on Twitter.

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In China, Buying a Car is Just the Beginning

Earlier this month, USA Today published the story of a Chinese couple trying to get a car. To be more accurate, the couple had purchased a car but were waiting in a lottery to get a license plate. Due to the high population and equally high demand for cars, the government only issues a set number of license plates each month. There is approximately a 1-in-32 chance of getting one of those plates, and without those plates, a driver is out of luck. Besides the restrictions on license plates, Chinese drivers also have a tougher time obtaining a driver’s license. Not only do they have to pass the typical driving and written tests, they also have to pass a physical fitness exam that tests their strength and flexibility.

As I read this article, I thought about all the reasons why Americans who want a car or need a car don’t buy a car. It isn’t the right time, I’m too busy to research the car I want, I’d rather not deal with salesmen…there are a million reasons why potential car buyers don’t get a car. In most cases, no one is standing in their way. They don’t have to pass a physical exam or win a license plate lottery. Ultimately, it is a matter of convenience, and people get overwhelmed by all the car buying advice coming from friends, family, and the media.

This is why Approved Loan Store is different. No matter what your credit situation, Approved Loan Store can make the car buying process simpler.

Step 1: Fill out the secure online auto loan application here.

Step 2: Within 48 hours, you will hear from an Approved Loan Store Representative. They will review your information and set up an appointment with a Special Finance Representative at the nearest Approved Loan Store location.

Step 3: Meet with the Special Finance Representative, browse the inventory, and figure out a payment plan that works for you!

Check out video testimonials from real Approved Loan Store customers online here, and keep up with the latest new and trends from the auto industry by liking Approved Loan Store on Facebook and following Approved Loan Store on Twitter.

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As Auto Loans Go Up, Late Payments Down

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!

Image(s): FreeDigitalPhotos.net

Car Loan Lengths Increase in First Quarter

As car purchases are going up, car buyers are taking their time paying off their car loans.

According to Experian’s car loans division, the average length of a new car loan was 64 months in the first quarter of 2012, and 73 to 84-month-long auto loans have gone up 15.4 percent. On average, car loans ran about $25,995 which was $589 more than last year, and the average monthly payment was $461.

Analysts attribute these longer auto loan term lengths to an increase in auto loans for consumers with challenged credit. They want to take lower monthly payments to ensure that they will be able to afford their payments and won’t further damage their credit with a late payment. As this study makes the rounds in the news, I predict that the industry will see even more consumers with challenged credit applying for auto loans because they know that so many other consumers have been able to negotiate longer loan term lengths.

At Approved Loan Store, we want to get you into the car you want with loan terms you can afford! Fill out our secure online auto 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!

Image(s): FreeDigitalPhotos.net

New Car Device Signals End to Distracted Driving

As states are cracking down on texting while driving, a new hands-free system might signal the end to dangerous cell phone and driving habits.

The Nuance Dragon Drive! is not the first hands-free phone system for cars, but there is a reason why similar hands-free systems are not in every car. Consumers have found previous hands-free systems to be buggy and more of a hassle than a convenience. The reasons for these problems include companies cutting corners on production, using cheap microphones, and not making the systems user-friendly.

I haven’t had a chance to try out the Dragon Drive! yet, but I have watched the demonstration video that Nuance posted on YouTube. What I like about the Dragon Drive! is that it improves on the hands-free cell phone, but it also does so much more. Drivers can dictate text messages, choose music, listen to the news, search nearby restaurants, and get directions, all without taking their hands off the wheel. If it works in real life as well as it does in the video, I would be tempted to pick one up.

You can check out the demonstration video that Nuance released, included below:

In this week’s reader poll, we want to know what you think! Would you get Nuance’s Dragon Drive! for your car? Vote on our Facebook page here! Don’t forget that no matter what your credit situation, Approved Loan Store wants to help get you into a new or used vehicle. Fill out our secure online auto loan application here, and make sure to like Approved Loan Store on Facebook and follow Approved Loan Store on Twitter to keep up with the latest news and trends from the auto industry!

Study: What Do Car Buyers Want?

Recently we put together an article that look at the advertising practices of the major car companies. It was asking the question of just where the money was to keep the sales the industry is enjoying to keep on coming. There has been a wide range of ways that the industry has been trying to reach out to everyone buying a car. To better answer the question of just what works to attract someone to a car, a report has come out that looks to give the car makers a better idea of what they need to do.

Phoenix Marketing International is reporting on an analysis of advertising practices of 2011. They found in their studies that the most successful way to advertise to the customer was with messaging about innovation and efficiency. They also noted that the message needed to be clear, believable, and informative.

One of the most interesting findings was the difference between the luxury customers and those looking for non-luxury cars. The luxury buyers preferred a serious tone that complimented the attractiveness of the vehicle. On the flip side, buyers looking at the non-luxury cars responded better to ads that emphasized being humorous, clever, and entertaining.

Fuel efficiency was also something that many people are looking for today. With the way people have been with gas prices these days, it’s not really surprising. Hybrids have been doing very well due to demand for high fuel-efficiency cars, and compact cars have seen a similar boost.

No matter what you’re looking for in a new or used car, be it efficiency or glamor, Approved Loan Store is looking to help you find it.  Fill out an application online to work with our representatives to find that car.  See our long list of happy customers in our testimonials section.  Also be sure to like us on Facebook and follow us on Twitter to see all the current news in the auto financial world.

Image(s): FreeDigitalPhotos.net

Road Trips, Minus the iPad

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.

Yesterday, the Boston Globe published a story on phone and iPad apps that will keep kids entertained on long road trips. In addition to the obvious choices like Angry Birds and YouTube, staff writer Hiawatha Bray suggested games and apps that encourage creativity. He highlighted the iMovie app for the iPad 2 and the fun-but-educational Back In Time.

At the risk of sounding old-fashioned, I hope that families don’t spend their road trips completely engrossed in their iPads. I’m not against kids keeping themselves entertained during the long, boring stretches of a road trip, but road trips are full of wonderfully unique experiences that families don’t have during a flight. I view this shift from flights to drives as a potentially positive development for families taking their summer vacation, and I sincerely hope that they take advantage of it. You can get the whole family involved with road trip games courtesy of Disney Family Fun, About.com, and MomsMinivan.com.

Is your car road-ready for your family’s summer vacation? Even if you have challenged credit, you can get into a new car today with Approved Loan Store! Fill out our secure online auto loan application here, and keep up with the latest auto news by liking Approved Loan Store on Facebook and follow Approved Loan Store on Twitter.

Image(s): FreeDigitalPhotos.net

One-Half Boat, One-Half Sports Car, 100 Percent Awesome

Stevie Johnson owns what I’m sure will be the most envied powerboat ever. It might seem strange to be discussing a boat on a car blog, but this particular boat is different. This is a boat built for a car lover.

One half lobster boat, one half 1994 Pontiac Sunbird convertible, the water has never seen anything like Stevie Johnson’s unique creation. The cool blue Pontiac Sunbird is mounted to the top of the boat, and the vehicle is rigged up so that Stevie can drive the boat from the front seat of the car. While it is not the fastest boat in the Maine lobster boat races, Stevie’s boat dubbed the “Sunbird” is drawing crowds and admirers wherever he goes.

Stevie has a history of racing unconventional vehicles in Maine lobster boat races. He has taken on competitors in a seaplane, and back in 2009, he told the Wall Street Journal that he was looking into purchasing an Oscar Mayer Weinermobile. There is no word as to whether he successfully acquired that Weinermobile, but I can only imagine what kind of boat he planned to build out of it.

If you want to see more of the Sunbird, check it out over at Jalopnik, and keep up with the latest auto news and trends by liking Approved Loan Store on Facebook and following Approved Loan Store on Twitter.