Tag Archives: good credit loans

Two-Face Car: State Farm Builds Monster Classic Car

Last weekend, The Dark Knight Rises broke box office records and won critical acclaim as well. America has Batman on the brain, including car enthusiasts, so Jalopnik was very excited to find a classic car rebuilt to resemble one of Batman’s most famous villains.

Harvey Dent, also known as Two-Face, is an iconic villain, and even people who don’t read comic books know Two-Face. One side of his face is handsome, and the other is hideously deformed. Now, State Farm needed a new way to train classic car insurance appraisers so they could tell the difference between a good restoration and a shoddy one. They wanted something that would be memorable for the trainees, so instead of just bringing in a good classic car and a bad classic car, they build a classic car with two “faces.”

On the driver’s side, this 1968 Camaro has been meticulously refinished with an off-white paint job. On the passenger’s side, the car is a patchwork of parts covered in flashy red, white, and blue paint. The brakes, wheels, and cylinder heads don’t match, but the car does its job. Side by side, it isn’t hard to see the difference between the good restoration and the bad restoration.

Unfortunately, there is a bit of a downer for anyone thinking about getting their hands on State Farm’s Frankenstein of classic cars. The “Harvey Dent” car is not exactly built for the road. It can drive well enough to use in training or show off at an auto show, but personally, I wouldn’t feel comfortable driving it out on the road.

Approved Loan Store might not have the “Two-Face” car, but we love to get our customers into the new or used car of their dreams! Good credit, bad credit, no credit, we want to help you! Fill out our secure online auto loan application here, and connect with Approved Loan Store on Facebook, Approved Loan Store on Twitter, and Approved Loan Store on YouTube!

Image Credit: State Farm on Flickr

Auto Loan vs. Cash: When a Loan is the Better Choice

Last Friday, guest blogger Lance from “Budgets are Sexy” was featured on MSN Money and stirred up some controversy with the headline “Why a car loan can beat paying cash.” As expected, many cash-only advocates got very upset and all but called for the authors head to be served on a silver platter to Dave Ramsey. We wanted to take a quick look at why he took out a car loan instead of paying cash and then open it up to our readers for feedback.

First, he wanted to get an installment loan on his credit history. At this point, he had several credit cards which he paid off regularly and on-time, and he did not take out any student loans in college. With such a sparse credit history, he thought that an auto loan that was paid on time would make a good addition to his credit report.

Second, he got a 0.9 percent interest rate for 36 months. Some readers didn’t know why he would pay any interest rate on a purchase he could afford to pay with cash, but considering that the interest he was earning on his savings account covered the additional interest on the car loan, it was a smart choice. Under these circumstances, he built up his credit history, and it didn’t cost him anything extra.

Finally, he appreciated not depleting his funds to pay for the car outright. By taking out the loan, he could still maintain his emergency fund in case of job loss or medical emergency. Most personal finance experts recommend keeping an emergency fund with enough money to live on for six to eight months, and thanks to the loan, he could keep his six-month emergency fund.

What do you think about his decision? If you could pay for a car in cash, would you choose to take out a loan? Leave us a comment below, and tell us what you think!

Are you looking for an auto loan? Approved Loan Store can help! Fill out our secure online auto loan application here, and get connected with Approved Loan Store on Facebook, Approved Loan Store on Twitter, and Approved Loan Store on YouTube!

Image: FreeDigitalPhotos.net

Business Insider: In the Auto Industry, Subprime is Not a Dirty Word

Here at Approved Loan Store, we work with customers with all sorts of credit situations. While we help out plenty of customers with good credit scores find a better deal, our specialty has always been working with consumers who have subprime credit.

Now, the term “subprime lending” has become a loaded term because people associate it with subprime mortgages, but there are enormous differences between the subprime auto and mortgage industry as outlined this week in an article by Business Insider.

There are two main reasons why subprime auto loans are not the same risk of subprime mortgage loans. First, consumers default less on auto loans than on mortgages. Car repos happen much quicker than foreclosures, so consumers feel compelled to keep up with their payments. Besides that, a car is necessary for many people to make it into work, especially in areas of the country without public transportation options. If they don’t have a car, they have to rely on other people for a ride to work, to the grocery store, or to go out on the town. Most people will make cuts where they need to so they can maintain their car and their independence.

Second, subprime auto loans are not nearly the same risk for lenders as subprime mortgages. This is why so many of Approved Loan Store’s lender partners have been able to offer these auto loans to consumers with very low credit scores while they would deny that same consumer for a credit card, a mortgage, or a personal loan. For this reason, auto loans are a great way for consumers with challenged credit to re-establish themselves and build up a positive payment history. We call this the “Everyone Deserves a Second Chance” effect.

Are you looking to get into a new or used vehicle? Approved Loan Store wants to help, even if you have bad credit, good credit, or so-so credit! Fill out our secure online auto loan application today, and keep up with the latest in credit and auto news by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Image: FreeDigitalPhotos.net

FIAT’s New “Immigrants” Ad Gets It Right

In the past few years, FIAT has tried commercials starring model Catrinel Menghia, Jennifer Lopez, Charlie Sheen, and an Italian-speaking baby. Overall, the ads have been hit or miss, and in my opinion, they have sold the commercial’s gimmick better than the car. After seeing FIAT’s new commercial titled “Immigrants,” though, I think they might have finally gotten it right.

The commercial opens in Italy and plays up the heritage with traditional music and images of an Italian wedding and cyclists dressed in red, white, and green. FIAT 500s zoom around through the town and along the oceanfront. Suddenly, one FIAT calmly drives off the edge of a cliff into the ocean, and like lemmings, the rest of the cars follow into the ocean. The traditional Italian music fades out, and then the cars emerge on the other side of the ocean with the Statue of Liberty reflected in the windshield. Music by Pitbull fades in as the “immigrant” cars drive through the streets of New York, and the narrator says, “The next wave of Italians is coming to America, and they’ve come to party.”

You can view the full commercial below.

More than any other ad, “Immigrants” captures what sets FIAT apart from other brands. The ad is quirky, cute, and memorable. It creates a distinct identity for FIAT that will appeal to car shoppers, something that couldn’t be done with random celebrity appearances and talking-baby gimmicks. Hopefully FIAT will continue in this direction with their new ad campaigns and not swayed by a pretty face or a famous name.

What do you think of the ad? Do you like this new ad campaign from FIAT? Leave a comment below and tell us what you think!

Are you looking for a great new or used car? Approved Loan Store can help! Fill out our secure online auto loan application here, and keep up with 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.

New vs. Used Cars War Rages On

There is a lot of debate among car and personal finance writers as far as buying new vs. used cars. Should car shoppers go with the security of a new car with no chance of a bad previous driver history, or should they go for the value with a used car?

In a recent article for Business Insider, financial planner Sophia Bera made the case for sticking with a reliable used car and not spending beyond one’s means on a luxury car. She cites Dr. Thomas Stanley’s research which found that Toyotas are the most popular car make among millionaires. By opting for a less expensive car, they had more money to save or put towards other luxuries like vacations or a nicer home.

Bera sings the praises of her 1997 Toyota Corolla which she bought used and is still running great. Her husband’s car, a 1998 Honda Civic, has also served them well, and since he paid it off in only nine months, they cut down on additional interest.

While Bera has some great points in her piece, we want to hear from our readers! Do you prefer buying new or used, and what would you choose for your next car? Leave a comment below, and tell us what you think!

If you’re looking for a new or used car, Approved Loan Store wants to help! Fill out our secure online auto loan application here, and keep up with 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.

Image: FreeDigitalPhotos.net

Fred Flintstone’s Car, Now Available in the 21st Century!

A custom car in Germany is bringing back memories of classic Saturday morning cartoons. Engineer Sebastian Trager loves the Flintstones so much that he decided to turn a Volkswagen Polo into a real-life Flintstone’s car.

Unlike Fred’s iconic car, Trager’s car has a real motor, but otherwise the car is a fantastic replica from the animal skin-covered bench seats to the fake “stone” wheels. Unfortunately, the car is missing many necessities for a modern car to be street legal, like seat belts and headlights. Trager recounted, “When we got the registration form section about the number of lights, windscreen washers and wipers, well, we don’t even have a windscreen so we gave up.”

While Trager’s car might be banned from the road, his Flintstones car has gotten a lot of attention at shows and exhibitions from nostalgic car lovers. For many people, the Flintstones car was one of the first cars they saw on TV as a child, and it holds a special place in my heart personally. My grandfather loved the Flintstones, and I can only imagine his delight if he had gotten the chance to see Trager’s creation.

Approved Loan Store might not be able to get you into the Flintstones car, but we have a huge new and used inventory with hundreds of makes and models available. Bad credit? Not a problem! We have helped hundreds of people get into the new or used car of their dreams! Fill out our secure online auto loan application here, and keep up with 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!

Auto Loans and the Road Back to Good Credit

For consumers looking to re-establish a strong credit history, auto loans are becoming the best choice, even for those with especially poor credit.

The qualifications for mortgages, business loans, and credit cards have held steady with strict income and credit requirements, and consumers whose credit took a hit during the economic downturn are having a tough time getting back in good graces with lenders. As many of these applicants have been turned down for credit cards or mortgages, though, many of them have been approved for car loans.

For many consumers with poor credit, a car loan is perfect. Car ownership has been show to correlate with job security and less reliance on public assistance, and it is a purchase that most consumers want and need. Besides that, their credit score will improve as they make their car payments on time, provided they keep up with their other payment obligations of course.

This is one of the reasons why Approved Loan Store exists and why we do what we do. We want to help more people get into the car they want and need. Just take a look through our hundreds of testimonials, and you’ll see that we are the best in the business. Give Approved Loan Store a try by filling out our secure online auto loan application here. You will hear from one of our representatives in 24 – 48 hours, and they will set up an appointment with a Special Finance Representative at a dealership closest to you.

Want to know more about Approved Loan Store? Browse our website ApprovedLoanStore.com, and be sure to like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube.

Image: FreeDigitalPhotos.net

June’s Top Selling Cars: Trucks, Compact Leading the Pack

Anyone paying attention to car sales in 2012 knows that June was a spectacular month, continuing the upward trend set in the spring. Everyone is asking what is causing these high sales and renewed interest in getting back on the road. Personally, I think the best way to find out why people are buying new cars is to look at the type of cars they are buying. Below, we have listed the top 10 selling cars in June with #1 selling over 55,000 units and #10 selling slightly under 24,000.

Ford F-Series pickups – 55,025 units
Chevy Silverado – 33,566 units
Toyota Camry – 32,107 units
Chevy Malibu – 31,402 units
Honda Accord – 28,924 units
Ford Escape – 28,500 units
Honda Civic – 27,500 units
Toyota Corolla and Matrix – 26,647 units
Ford Fusion – 24,433 units
Ram pickups – 23,951 units

Some people are pointing to the Ford F-Series pickups and Chevy Silverado topping the list and saying that car buyers are looking for a fun summer car for camping or just getting outdoors for the day. Even though trucks took the top two spots, though, compact cars dominated the overall top ten list in June with those top compact cars selling 171,013 units. Only one SUV or crossover made the list which could be due to high gas prices, but considering that trucks are selling just fine, it might be that car buyers just aren’t looking at SUVs and crossover vehicles.

What do you think of the top 10 list? Are there any cars on the list that surprise you? Leave a comment below, and tell us what you think!

Are you looking for a great new or used vehicle? Approved Loan Store can help! Fill out our secure online auto loan application here, and keep up with our latest auto blogs and consumer alerts by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Image: FreeDigitalPhotos.net

“Connected” Cars: Distraction or Asset?

Recently, activists and parents have been speaking up on the dangers of distracted driving, using PSAs and popular TV shows like Glee to warn drivers of all ages. If a study from market researcher ABI is to be believed, though, the battle against distracted driving is uphill, barefoot, and through torrential rain.

Distracted driving is the all-encompassing term which includes talking on the phone, texting, or surfing the internet while driving. The answer isn’t as simple as outlawing cell phone use in the car, though. New touch-screen technologies in vehicles could also be considered distractions, and ABI’s projections predict that more than 60 percent of cars will be “connected” by 2017. Never mind getting teen drivers off their phones, imagine disconnecting cars from new technology. All those anti-cell phone laws will be worthless when people have a myriad of distractions built into their cars.

Of course, there is another way to look at this trend. Some of these new technologies allow for cars to communicate with each other and avoid collisions, and many people see “connected” cars as a step towards self-driving vehicles. People won’t have to worry about being distracted drivers because in the future, they won’t be driving at all. Until then, some of these “distractions” have safeguards built in to keep the driver safe, such as Ford’s SYNC and MyFord Touch system with driver stress test. The system measures the driver’s vitals, and when they show signs of stress or the road conditions worsen, all outside distractions are lessened. Incoming texts and calls through Ford SYNC are disabled, and the driver can better focus on safe driving.

Readers, we want to know what you think! Are these new technologies an asset and a step towards a brighter driving future, or are they a distraction that will endanger other drivers on the road? Leave a comment below, and let us know what you think!

Are you looking for a new or used vehicle? Approved Loan Store wants to help, even if you have poor credit or no credit! Fill out our secure online auto loan application here, and keep up with 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!

Image: FreeDigitalPhotos.net

Carpooling Network Coming to the United States

At the Approved Loan Store, we know how long and boring the morning commute can be. If you’d like to qualify for the carpool lane, though, a German company wants to give you some company on the way into work.

Carpooling.com was founded by 3 German MBA students, and since its inception, it has spread to Austria, Switzerland, France, Italy, Spain, Poland, Greece, the United Kingdom, and now the United States. Approximately 1 million people use their services every month. The concept is simple. Riders can register through the website and look up drivers according to area, type of vehicle and seating accommodations, available time, and price. Carpooling.com also has a Facebook, iPhone, and Android app to make booking on the go easier. They also offer women-only rides, driver safety ratings, and an online ratings system to put the riders and drivers at ease.

There are a lot of advantages to carpooling. First, it saves on commuting costs with riders splitting the cost of gas, and there are obvious benefits for the environment. Also, carpooling matches up people who might otherwise never meet, and some drivers and riders have struck up life-long friendships after riding together. Their website also brags of more than 10 wedding of people who met through Carpooling.com.

The reason why Carpooling.com has taken so long to get to the United States is that people feel iffy about riding with someone they don’t know. Some people worry about safety, either that the driver will be reckless or that the driver or rider will be a dangerous individual. Fortunately, there are safeguards in place to protect riders and drivers, and it is certainly more safe than finding a carpool ride through other online avenues like Craigslist.

Readers, we want to hear from you! Would you consider being a driver for Carpooling.com or another carpool website? Would you ever use it to find a ride? Leave a comment below, and tell us what you think!

Are you looking for a new or used vehicle? Approved Loan Store can help! Fill out our secure online auto loan application here, and keep up with the latest news by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!