Tag Archives: special finance

Volvo’s Pedestrian Airbags Stun Geneva Motor Show

Car safety technology has advanced dramatically in recent years with every kind of protection put into place for the driver. In a bold new move, however, Volvo is looking beyond just the safety of the driver and passengers and creating new safety features for pedestrians.

The Volvo V40’s pedestrian airbag was unveiled this week at the Geneva Motor Show. A video of the airbag in action has gone viral, and people already want to know when pedestrian airbags will be coming to the United States. In the video demonstration, the Volvo V40 collides with a crash dummy which falls onto the hood of the car. When the airbags deploy, the hood tilts back and slows the crash dummy’s speed towards the windshield, and the U-shaped airbag cushions the crash dummy and prevents them from flying through the windshield without completely blocking the driver’s view.

Sadly, it seems that Europeans will be getting Volvo’s pedestrian airbags long before we do, though I’m sure that American-made automakers are already working on their own versions. Still, the Volvo V40 demonstration is a fun look into the future of cars, and hopefully it will inspire more inventors to dream and come up with the next big thing in car technology.

Looking for a new or used car? Approved Loan Store can help! Fill out our car loan application here, and like us on Facebook and follow us on Twitter to keep up to date on the latest auto news.

NHTSA Deciding on Rear-View Cameras by the End of Year

Rear-view cameras, a relatively new safety feature, might become standard in vehicles before the end of the year pending a decision by the National Highway Traffic Safety Administration (NHTSA).

These cameras were first introduced in luxury vehicles, but they have started popping up in mid-level cars more often in the past year. The NHTSA is considering making them mandatory in order to decrease vehicle backover accidents and deaths. According to the NHTSA, backover accidents on average cause 183 fatalities and up to 7,419 injuries every year.

The NHTSA were expected to make a decision last month, but they delayed a decision until the end of the year in order to fully explore the issue. In an official statement, they reiterated their commitment to safety and said that they would be surveying thousands of drivers who currently have rear-view cameras to discover the benefits and any potential problems with the technology.

Critics of the rear-view cameras say that the cameras are expensive and problematic. Reflection on the video screens at certain times of the day can impair the driver’s ability to see, and responsible drivers will still want to use the rear-view mirrors in addition to the camera. Still, I am holding out to see what the NHTSA discovers in the next year. Rear-view cameras cannot stop someone from being a bad driver, but maybe it can help stop a capable driver from making a deadly mistake.

No matter what you are looking for in safety features, Approved Loan Store can help you get into a dealership and get a car payment plan that is right for you. Fill out our car application here, and like us on Facebook and follow us on Twitter to stay up to date on the latest auto news!

Auto Loan Delinquency Drop Means Good News for Customers and Auto Industry

February was a great month for the American auto industry. Sales were up and surpassed most analysts’ expectations, and in another bit of good news, more people are making their car payments on time.

Near the end of last year, auto loan delinquencies dropped to 0.46 percent. During the same time in 2010, delinquencies were .59 percent. This might seem like a tiny percentage, but it is actually fairly unusual to see such a low delinquency rate near the end of the year. Transunion’s automotive vice president Peter Turek explained, “Normally there is a seasonal upswing in auto delinquency rates…auto delinquency rates have shown upward movements between third and fourth quarters averaging in excess of 5 percent. Ending the year flat is particularly interesting because the number of new auto loans coming onto the books has consistently increased since the end of the recession, a primary driver of which has been an expansion in lending to consumers in the subprime market.”

What does this all mean? Well, more people are getting car loans. More car loans at that point in the year should mean more delinquencies, but one of the reasons why so many people are getting auto loans is to rebuild their credit. People are still in recovery mode, particularly with their credit health, and auto loans are a good option for re-establishing credit. If they don’t make their payments on time, then their credit won’t get any better. All around, this is a win-win for the auto industry and customers. For the auto industry, sales are up and delinquencies are down, and for customers, their credit will continue improving.

Good credit, bad credit, or no credit, Approved Loan Store wants to help you get an auto loan. Fill out our auto loan application here, and like us on Facebook to keep up with the latest auto loan trends. You can also see video testimonials from real Approved Loan Store customers on YouTube.

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Ford SYNC’s New Texting Feature: Safety Feature or Another Driver Distraction?

As concerns about texting while driving are on the rise, Ford SYNC is heading off concerns with a new upgrade which will keep driver’s eyes on the road and off their phones.

The Ford SYNC previously let drivers make calls, play music from iPods and other music devices, and access directions through voice-activated technology. There are also emergency features built in. SYNC will call 9-11 if the car is in an accident. Now, Ford has added more voice-activated controls for tablets, including texting. If prompted, the SYNC will even read back text messages to the driver.

The issue of “distracted driving” as it has been coined in the media is a contentious one. Even with these upgrades, the MyFord Touch technology and correspondingly the Ford SYNC have been under fire from consumer groups and the press for being difficult to use and prone to glitches. Critics of the Ford SYNC would argue that these upgrades and new features could be just as distracting as calling or texting while driving, if not more so. The driver is still dividing their attentions between driving and their call or text. Hands-free or not, these features are still a distraction.

Readers, we want to hear from you! Do you currently have any hands-free phone devices in your car, and do you think the Ford SYNC is a step forward or just another driving distraction? Leave a comment below, and head over to our Facebook page to vote in this week’s fan poll. If you’re looking to get into a new car, head over to our Approved Car Loan page today!

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President Discusses Additional Financing for Green Cars

There’s some good news for the buyer who’s been looking at green cars such as the Nissan Leaf or the Chevrolet Volt. It turns out that the President is wanting to aid in special finance for such electric and hybrid cars.

President Obama, in a speech delivered at the Daimler Trucks North America manufacturing plant in Charlotte, North Carolina, made note of his goal to raise the existing tax credits on vehicles. This will pertain to vehicles from $7,500 to $10,000 in an attempt to make these new cars appealing to the average consumer. If a car buyer decides towards the hybrids, natural gas, or electric cars, they could be looking at being qualified for the credit.

“To cities and towns all across the country, what we’re going to say is, if you make a commitment to buy more advanced vehicles for your community — whether they run on electricity or biofuels or natural gas — we’ll help you cut through the red tape and build fueling stations nearby,” the President said, “And we’ll offer tax breaks to families that buy these cars, companies that buy alternative-fuel trucks like the ones that are made right here at Mount Holly. So we’re going to give communities across the country more of an incentive to make the shift to more energy-efficient cars.”

The plan that he has set forth will be investing up to $1 billion dollars in the National Community Deployment Challenge. This is being done in order to help the local communities get the infrastructure it needs to support the alternative fuel cars.

No matter what kind of car you’re looking for from a hybrid to luxury to a rough-and-tumble truck, Approved Loan Store can help. Fill out our application here, and like us on Facebook to read more auto news and watch video testimonials from Approved Loan Store customers!

Gas Prices Equal Increase in Used Car Sales

Gas prices may be on the rise, but apparently that’s not going to make an impact on used car sales according to predictions by the National Automobiles Dealers Association (NADA).

The expectation is that the average gas price will peak at $4 a gallon this May.  Normally, when gas prices are high, the average consumer didn’t like getting a car loan to buy a used car.  This year, however, seem to be an exception of the rule.

Jonathan Banks, an analyst with NADA Used Car Guide, says that the rise in gas prices won’t make that big of an impact in their decision.  “Considering consumers have become accustomed to gasoline prices that averaged more than $3.50 last year, this time around we don’t expect to see dramatic shifts in the shopping behavior of consumers for more fuel-efficient vehicles when prices approach the $4 mark.”

He continued on to say that compact cars will be seeing a raise in demand while the SUV, notorious for gas-guzzling, will see a drop.  This is highlighted by the sales in February which were at a four-year high.  Compact vehicles especially are seeing a boost by 16 percent.

New or used cars, good or bad credit, Approved Loan Store can help get you into a car. Fill out the auto loan application form today, and keep up with the latest auto news by liking us on Facebook and following us on Twitter.

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Top Family Cars of 2012 Revealed by Kelley Blue Book

Any family who heads into the dealership is always wanting to make sure they walk away with the best deal. To that end, Kelley Blue Book has released their top picks for family cars in 2012.

Their number 1 pick is the Volkswagen Passat. The sedan has five seats, and according to Kelley Blue Book, is the “automotive equivalent of the extra value meal at your local fast food joint.” They also make note that the aspiring family who is wanting the Passat will find the newer model is not only larger but also less expensive than last year’s model.

Second place is the Honda Odyssey minivan. The vehicle provides a large family with plenty of size and a fantastic set of safety features. The powerful V6 engine is noted along with the stylish interior and handling as to the reason that it placed so high on the list. Rounding out the rest of the five picks on the list is the Ford Flex, Subaru Outback, and the Honda CR-V.

Approved Loan Store is wanting to make sure that you leave in the car you need. They want to help get the growing family the car they need at the most affordable prices and best interest rates. Call today at 877-217-2217 or go online to apply today. Be sure to also follow on Facebook so that you can see all the latest news and offerings.

Four Year Low for Interest Rates

There was good news today for car buyers. According to Bloomberg Business, interest rates are at the lowest they’ve been for four years. The low interest rates are in part to borrowers now paying their bill on time and not falling behind as well as a rise in demand for new cars. On average, the interest rate for a new car loan fell to 4.52% in the fourth quarter. This figure was founded by Experian Automotive and they also said that the rates were the lowest since they began tracking the figure in 2008.

Borrowers who have fallen behind on payments by 30 days saw a decline of $15.1 billion in the fourth quarter. That’s 8 percent down from just a year before and 28 percent lower overall of what it was at the end of 2009. Those who were delinquent on loans of 60 days decreased $3.48 billion which translates to a 14 percent drop-off from last year and 39 percent from 2009.

A positive up-swing in car sales has really lit a fire under the financial companies. They are now boosting lending in the auto industry after seeing a sales increase of $12.8 million last year, the second consecutive annual increase of at least 10 percent. Another factor in the lending trend is that the Federal Reserve has stayed committed to holding short-term rates at near zero all the way through at least 2014.

Experian’s report also noted that buyers whose credit is nonprime or even worse accounted for 23% of the new car financing market in the fourth quarter. This is a huge change considering that just the prior year, it was less than 20 percent.

Now is the best time to get the car you’ve been dreaming of. Approved Loan Store wants to help make that dream a reality. Contact us today at 877-217-2217 or log on to the website to apply for a car loan. Be sure to also follow Approved Loan Store on Facebook so that you can see all the latest news and blog tips.

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Insurance Purchasing Tips

Choosing the right auto insurance is a very important thing to keep in mind for anyone purchasing a car. The problem, however, is it’s easy to get lost when figuring out which is the best. Luckily, the Insurance Information Institute has released a guideline to make sure that people get the best insurance at the best possible rate.

Make sure to keep in mind that an insurance premium is based on a multitude of factors. It can include everything from your driving record, how much you use your car, where you keep it parked, and your credit score. This is why it is important to get educated about all your choices, and the best way to do this is by asking questions.

Depending on the company you go with, your prices and coverage can vary greatly. In order to make sure you’re getting the best, the article recommends that you get at least three different quotes. Call the insurance agents or companies directly and compile information from the internet. Don’t shop by price alone but rather look at an insurance company with a good reputation. Get advice and recommendations from family and friends. Also, there is a state insurance department website that you can peruse.

Premiums are based on the price of the vehicle. This includes the cost it takes to repair it, and factors like the safety record are taken into account. It’s worth doing some research into a car to see how these might impact the insurance cost on buying the car. Know just how likely this car is to get stolen before going in for a purchase, because the insurance premium looks at these factors.

Increasing your deductible is another recommendation. A deductible is the amount you pay before the insurance policy kicks in. If you get a high deductible for your coverage, this can have an impact on lowering the cost of your premium. Just make sure that you have the money in case you have to pay a claim before asking for an increase. You don’t want to be unprepared.

The final tip is to make sure you ask for any and all insurance discounts. The insurance companies have a large range of different discounts they can offer drivers. Make sure that you are vocal in your questions to the insurance agent. Ask them about items such as anti-theft devices, multiple policies with the same company, drivers education courses, good credit record, and higher deductibles. These are just a few options, so make sure to ask.

Some leg work is necessary, but really, when buying a car, you should always have everything ready in advance. This will help to make sure that when you do go into the dealership, you’ll be walking out with insurance that’s best for you. Go online to Approved Loan Store’s website and apply to get a car loan to drive away in your dream car today. Follow ALS on Facebook as well so you can stay up to date on every blog and deal!

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Budgeting to Afford an Auto Loan

One of the biggest question that people have when they go to get an auto loan is what can they afford with financing a car. That’s a question that Approved Loan Store is striving to answer, and Loans.org has some great first steps towards planning a car purchase.

People need to understand just where their monthly income should go to. An auto loan is something that can cause a great deal of financial stress and should be prepared for. Following the steps the article lays out, it can make a world of difference in making sure that a family can repay an auto loan without breaking the bank.

The budget plan was proposed by Liz Weston, a finance writer. It’s the 50/30/20 budgeting plan. What this breaks down to is that the person following the plan needs to divide one’s needs, wants, and savings in different allotments. Needs should take up no more than 50 percent of one’s after-tax income, wants are 30 percent, and the 20 percent that remains should be saved.

Breaking it down even further, the plan calls to make sure that needs are actual needs. Needs do not include those nice new shoes but rather things that are necessary for survival. Those items include housing and food, and, in the case of this blog, transportation. One of the items in needed that the article recommends possibly cutting back on is a cell phone plan if the basic plan can help keep costs down. Other ways to cut back on needs is to stop eating out for dinner and instead opt for home-cooked, and generally healthier, meals.

Wants include things such as movies, video games, clothing, or anything else that goes beyond the basic. In order to accomplish this, you can cut back again on a cell phone plan. You can also avoid the new season’s style and instead save money for later. That’s where the final 20 comes in, putting aside 20 percent every month in savings. This will go a long way in giving comfort of mind. The recent economic collapse put everyone on edge, creating an atmosphere of fear of sudden and long term job loss. If you’re properly prepared for such life altering events, then you can be in a better situation should the worst case arise.

Bringing it back to auto loans, this budgeting plan can go a long way in making sure that anyone is comfortable with paying back an auto loan. By breaking down just what in someone’s life is necessary versus a want and putting a set sum aside for saving, it puts the person in control of their financing. Following this budgeting can help borrowers assure themselves that they can make the loan payments and still have enough set aside in case something happens.

Set your budget and head on over to Approved Loan Store to sign up today to get a car loan. Don’t forget to also follow Approved Loan Store on Facebook in order to stay up to date on any future budgeting tips.

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