Tag Archives: used car

CONSUMER ALERT: Counterfeit Air Bags

This morning, the NHTSA released a safety advisory to consumers regarding counterfeit air bags that were installed at repair shops not associated with a new car dealership. At Approved Loan Store, we want to keep our readers informed of any and all consumer alerts from organizations that could affect their driving safety, so we wanted to break down the advisory and give you strictly the information that you need to know.

First off, this is potentially only going to affect less than 0.1 percent of vehicles, but since they don’t have all the pertinent data, it could be more than that. Any consumer who bought their car new and never had their air bags replaced is not affected by this advisory, and consumers who had their car’s air bag installed at a repair shop associated with a new car dealership are also not affected.

If the following qualifications apply to you, then you should contact a local call center and get your car checked out at a new car dealership’s repair shop. You can get the number for your local call center at www.SaferCar.gov.

  • Replaced vehicle’s air bags within the past three years at a repair shop not associated with a new car dealership
  • Purchased a used car and are unsure of the car’s full history
  • Purchased a car with a title branded salvage, rebuilt, or reconstructed
  • Purchased a replacement air bag from a non-certified source such as eBay

If you believe that your car might be affected, take care of it right away. The NHTSA has released a frightening video of what happens when these counterfeit air bags are deployed. Jalopnik is hosting the video here. This is not something to put off for a few days or a few weeks. If your car fits any of the categories listed above, get it checked out as soon as possible.

Are you looking for a new or used car you can rely on? Approved Loan Store wants to help you get into a safe and affordable vehicle today! Fill out our secure online auto loan application here, and get the latest auto news and consumer alerts like today’s air bag advisory by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

GM Hires 10,000 Computer Professionals to Develop Software, New Technology

American automakers are riding high in 2012 with sales stronger than ever, especially for new models like the Chevrolet Spark. While this is great news, there was even better news coming out of GM that will ensure a bright future for American automakers.

For years, many American automakers have paid outside companies for the right to use software and other new technology in their vehicles. They have relied on others to dictate the future of automobiles instead of doing it themselves. Ultimately, they have ended up paying out the nose for technology they could have (and should have) developed with their own resources. It has been a waste of money and a waste of great American talent.

GM has realized that to remain competitive, they need to develop new information technology and quickly. Otherwise, they will get left behind and wind up exactly where they were only a few years ago. In a bold pro-active move, GM has announced they will be hiring 10,000 new computer professionals. These hires will work at GM’s new Information Technology Innovation Center in Austin, Texas, GM’s computer center in Warren, Michigan, and two other sites that are expected to be announced soon.

GM’s Chief Information Officer Randy Mott had high hopes for these new hires and their work, stating, “We’re currently seeking the next generation of game-changers to help us usher in a new age of automotive innovation.” Many have called the move risky and wonder if it will pay off for GM. Paying for 10,000 new computer professionals is quite a hefty bill, but considering 2012’s strong auto sales and Japan’s return after the tsunami, the time is now or never. GM will have to put in the money now and take advantage of the opportunity available to them or lose their ability to compete, again.

Are you looking to get in a new or used vehicle today? Approved Loan Store can help! 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 get the latest news and auto buying tips by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Scam Artists Re-Sell Stolen Cars on Craigslist

In the past, we at the Approved Loan Store have advised our readers to stay away from Craigslist car deals that seem too good to be true, and we were sad to hear yet another Craigslist car buying horror story late last week.

WILX, an NBC affiliate in Lansing, Michigan, first reported that car thieves are re-selling cars on Craigslist to unknowing buyers. The sellers are forging car titles to go along with the car and replacing the VINS with fake VINS or scratching it off completely. Oftentimes, the seller insists on dealing in cash and meeting in a parking lot after business hours. This way, the buyer wouldn’t be able to check the VIN with the Secretary of State until after the sale is done.

How can you avoid these scams and make sure you are getting a quality car at affordable terms? First off, it is better to go through a dealership as opposed to through a private seller. Most private sellers are great, and there are reputable private sellers available, but it is riskier than going through a dealership. Second, go through an Approved Loan Store dealership. Our Special Finance Representatives will find you the car you want at the right price, whether you have stellar credit or no credit at all.

If you are ready to get into a new or used car today, fill out our secure online auto loan application here, and get the latest car buying news and tips by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

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!

Image courtesy of xedos4 / FreeDigitalPhotos.net

“Invisible” Backseat: Gimme or Gimmick?

Car technology is progressing at a frightening pace. Self-driving cars are in the near future. Smart phone sync technology is becoming standard in new models. Some cars can even measure the driver’s heart rate and turn off driver distractions.

Most of this new technology is pretty amazing, but occasionally, a new car gadget or gizmo is more confusing than cool.

Researchers at the Keio University in Japan will be at the 2012 Digital Content Expo in Tokyo to show off an “invisible” Prius. The backseat of the Prius is covered with retroreflective materials, jokingly referred to as the “invisibility cloak” from the Harry Potter series. The material allows the driver to see through the backseat, and theoretically drivers will have less trouble parallel parking or driving in reverse. Masahiko Inami, a professor at Keio University’s School of Media Design, described the experience as “driving a glass car” and was confident that the technology would be widely used in the future.

I still have no idea what to think about the “invisible” Prius. While I hate parallel parking just as much as the next driver, I feel like the experience of driving a “glass car” would make parking tougher. Is the driver’s depth perception affected in any way? How is the “invisible” backseat an improvement on the rear-view cameras that are already available? So far, I think the “invisible” Prius is fun to show off at a technology expo, but I am not convinced that drivers will want it or manufacturers will want to pay for it.

Readers, we want to hear what you think! Do you like the “invisible” Prius? Would you want to see through your backseat? Leave a comment below, and tell us what you think!

Are you ready to get into a new or used car? Approved Loan Store wants to help you get 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!

September: U.S. Auto Industry Holds Strong Despite Japanese Comeback

2012 continues to be a strong year for the U.S. auto industry with September once again posting great sales numbers.

According to the Daily Beast, analysts expected that U.S. auto sales would hit an annualized pace of 14.5 million in September, but they exceeded that with 14.87 million. Chrysler saw a sales increase of 12 percent compared to September 2011, and Jeep saw a 10 percent increase. Also, fuel-efficient vehicles continued to perform solidly, and U.S. brands held their ground even as Japanese brands Toyota and Honda made a comeback.

How is the U.S. auto industry maintaining this pace? One of the biggest factors is that car shoppers with damaged credit are still getting approved for auto loans. In 2012 so far, 1 in 4 auto loans have been subprime loans, and the average amount financed for auto loans overall has increased while monthly payments have barely changed. Those are great conditions for buying a new or used car, even for consumers who thought they couldn’t afford a car or get approved for an auto loan.

At Approved Loan Store, we love getting our customers into great new or used cars at terms they can afford! Good credit, bad credit, no credit, we want to help you! Check out our testimonials to see real life Approved Loan Store customers with their new cars, and if you are ready to get started, fill out our secure online auto loan application here.

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 Master isolated images / FreeDigitalPhotos.net

Slackers Park in the Kitchen: Why Forbes’ Review of the Toyota Coms Misses the Point

Car companies have tried to appeal to young drivers with navigational systems, sound systems that sync with the driver’s iPod, and hands-free calling and texting. Toyota is trying a new tactic, though, by making their cars smaller than ever.

How small are these new Toyotas? Imagine parking in your kitchen.

Toyota’s new single-seater Coms are limited as far as space and weight. They can only fit a driver and 2 bags under a combined weight of 308 pounds, and the car’s top speed is 37.5 miles per hour. Still, this car could revive young drivers’ interest in car ownership.

In their review of the Coms, Forbes was more skeptical of the car’s appeal saying it “looks like it fell off a carnival ride.” Writer Michael Kanellos also makes a baffling observation that these cars are meant to “capitalize on the diminished expectations of global slackerdom.” This is such a cop-out answer to an industry-wide problem. Instead of blaming young people for not buying traditional cars and labeling them as slackers, maybe Kanellos should understand why cars like the Coms are so appealing to young drivers.

First off, more people are living in cities, and big cities can be costly for car owners. They have to pay for a parking space or a permit, and if they don’t get a designated spot, they have to spend lots of time searching for a spot. Also, many young people are still paying off student loans and working entry-level jobs, and they can’t justify the cost of a car plus insurance and parking fees. At this point, young people living in big cities would rather take public transit and rent a car only when they have to.

Imagine for a moment, though, how the industry would change with more cars like the Coms. The price ranges from $8,922 to $10,000, and they wouldn’t have to worry about paying $100 a month to park their car. Instead, they could drive it right into their apartment. It wouldn’t be able to handle a trip out of town, but they could take it down to the grocery store or out shopping. Young drivers would love it and would probably buy it. Kanellos thinks that driving is about feeling the “breeze blow back your hair,” and he believes that new drivers are a product of “global slackerdom.” I think these new drivers are money conscious and are waiting for a car to meet their needs, and the Coms could do just that.

The Coms are not for sale in the United States yet, but if they are successful in Japan, I could see them popping up in New York very soon. If you are looking for a car or your current car isn’t fitting your needs, Approved Loan Store can help! We want to help you get into the car you want at terms you can afford. Fill out our secure online auto loan application here, and get the latest news and buying tips by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Brooklyn Dealership to Pay Fines, Restitution for Misleading Customers

At Approved Loan Store, we strive to make the auto buying process easier and better for all of our customers, but we hear horror stories all the time about other dealerships and their deceptive practices. Many of our customers have been to other dealerships and had such a poor experience that they are reluctant to even set up an appointment with our Special Finance Representatives. This is why we get so upset when we read about dealerships (particularly local dealerships) that are taking advantage of customers and not following the law.

On Sunday, New York State Attorney General Eric Schneiderman announced that 46 consumers who purchased cars at Brooklyn’s Giuffre Hyundai, Giuffre Kia, Giuffre Mitsubishi, and Giuffre Mazda dealerships would receive $300,000 in restitutions. The dealership used fraudulent sales practices and additionally misled customers about the terms of their car sale and financing.

Sadly, most of these customers were vulnerable to these tactics. Brooklyn State Supreme Court Judge Bernard J. Graham stated that the dealership targeted “older persons, unsophisticated, or unfamiliar with English,” and the dealership sold them cars “they never intended to buy or [at] a price that was dishonestly represented to them.”

At Approved Loan Store, our goal is to get our customers into cars they want and cars they can afford. Every step of the way, we strive to give our customers a great car buying experience, and Approved Loan Store’s Special Finance Representatives make sure that the financing is clear and reasonable. Our results and the glowing testimonials we receive every day are proof that our methods work, and we are glad that dishonest dealerships are being held accountable for their actions.

Are you ready to get into a new or used car today? Fill out our secure online auto loan application here, and get the latest car news and buying advice by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Image courtesy of Boaz Yiftach / FreeDigitalPhotos.net

Family Sells Classic 94-Year-Old “Honeymoon Car”

At Approved Loan Store, we love a good classic car, which is why we were so intrigued by a beautiful 1918 Chevrolet D-Series that will be up for auction in Hershey, Pa. next month.

What makes this particular car special besides its age and pristine condition is that the family selling the car is the same family who originally bought the car nearly a hundred years ago. According to a profile in the Wall Street Journal, the car has been passed down in the family for generations. The first owner was Elam Becker who received it as a gift from his father John Becker. Throughout the years, it was a good car for the family, and it was dubbed the “Honeymoon Car” after Becker drove to Washington D.C. and eloped with his then-fiancée.

When Becker bought a new car in 1928, he put the “Honeymoon Car” in storage and didn’t bring it back out until 1949 when he began restoring the car. He started doing car shows and events with his wife, and they always brought along their 1918 Chevrolet. In 1974, they even celebrated their 50th wedding anniversary at the Hershey Fall Meet with their beloved car. After that, they gave the car to their son who is now selling it nearly 40 years later.

For car enthusiasts and anyone who loves a healthy dose of nostalgia, this car is a dream. It will probably sell for around $35,000 to $45,000 and will come with the original order sheet, bill of sale, and owner’s manual. The auction is scheduled for Thursday, October 11 thru Friday October 12 in Hershey, Pa., and you can get more information on the auction by contacting RM Auctions.

Are you ready to get into the car you want at rates you can afford? Approved Loan Store can help! Fill out our secure online auto loan application here, and get the latest auto news and buying tips by liking Approved Loan Store on Facebook, following Approved Loan Store on Twitter, and subscribing to Approved Loan Store on YouTube!

Chevy Offers $10,000 in Discounts on Volt

If you’ve been thinking about picking up the Chevy Volt but were hesitant because of the price, right now might be the perfect time to buy.

The Chevy Volt has had a tough time in sales since its release, even with drivers who are environmentally conscious or loved the idea of paying only $1.50 to charge its battery. It was a great car, but the timing of its launch was completely wrong. People were looking to cut costs in the short term, and paying $41,000 for a compact car did not make sense, no matter if they saved money in the long run.

Now, Chevy is trying to move the Volt off its lots without too much of a loss. There has been a $7,500 federal tax credit attached to the Volt to encourage drivers to make the change to a hybrid, but Chevy has added on more incentives throughout 2012, adding up to a $10,000 discount. Since the discounts were put in place, Volt sales have seen a dramatic change. Chevy has already sold over 13,000 Volts this year compared to 7,700 last year. The Volt is beating out every other electric car on the market including the Prius Plug-in and the Nissan Leaf.

Chevy is not the only dealership moving last year’s models off the lot. At this time of the year, dealerships across the country are offering deep discounts on a wide range of makes and models. For the best deals, now is the time to buy that new or used car, and Approved Loan Store is ready to help you every step of the way. Good credit, bad credit, no credit, we want to help you get in the car you want at terms you can afford!

To get started today, 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 for the latest auto news and buying tips!