Tag Archives: unemployment

Americans Getting Into Cars, Back to Work

In the past, we have written about the strong correlation between car ownership and the unemployment rate. When more people have cars, unemployment is usually down because more job opportunities are open to them. A job hunter who owns a car is not limited to places along public transit routes, and once they get the job, they can be more reliable than an employee who hopes the bus is running on time.

The latest jobs report, which was released this week, showed that this correlation still holds true. Unemployment has dropped to 7.8 percent while car sales have continued to go up throughout 2012.

Now, some people will say that this correlation doesn’t suggest that car ownership leads to better job security and will take the other side of this “chicken-or-the-egg” debate. They will claim that because more people are employed, more people have the money to spend on a new car, and they would be partly right. Yes, some car buyers are just looking to upgrade their ride or buy a car that is more luxury than necessity, but take a minute and look at the auto sales numbers for 2012. There are not that many people buying a car just for fun. The economy is better, but it is not that good.

Coming out of this recession, Americans are valuing car ownership. Millions of people have been out of work, and they know the frustration of riding the bus or relying on a friend to drive them to yet another job interview. With Americans going back to work and auto loans accessible to more consumers, even those with subprime credit, it makes sense that people are strengthening their job security by getting a car now.

Are you ready to get into a new or used car today? Approved Loan Store can help you! Good credit, bad credit, no credit, we want to get you in the car you want at terms you can afford! Fill out our secure online auto loan application here, and be sure to like Approved Loan Store on Facebook, follow Approved Loan Store on Twitter, and subscribe to Approved Loan Store on YouTube!

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Getting an Auto Loan After Bankruptcy

Turn on the news and it seems that even with talk of recovery, there’s still plenty of businesses and people being forced to declare bankruptcy. It’s something that’s been consistent with the economy in its current state. According to the American Bankruptcy Institute, the total number of bankruptcy filings in the US had an increase in February. The growth was 19 percent versus the filings in January. The total filings in January was 87,981 while February was 104,418.

Samuel J Gerdano is the executive director of the ABI says about the increase, “The stagnant housing sector and high unemployment continue to stress the cash flow of consumers and business. As consumers and businesses work to shed tremendous debt loads, there are times when bankruptcy is the only shelter to provide financial relief.”

Bankruptcy is a terrible thing to encounter. It has a long consequences not just on the finances of an individual, but also leaves a mental scar. As frightening as it can be, however, Approved Loan Store wants to make sure that people know that bankruptcy isn’t the end. We here at ALS look to work with people struggling from bad credit and want to help them drive away in the car they want and need. We can assist you get that car even after a bankruptcy. Go online and sign up to see how we can help you. Make sure to like us on Facebook to stay up to date on all the latest news and offerings we have.

Image: Grant Cochrane / FreeDigitalPhotos.net