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Archive for June, 2013

Diesel Cars Offer Lower Ownership Costs Than Traditional Models

Friday, June 28th, 2013

Owning a car is expensive, so it's no surprise so many people do whatever they can to keep costs low. One way to do that is by investing in diesel vehicles or similar environmentally friendly cars, as these automobiles often require fewer stops at a gas station or less servicing throughout the course of its life. In fact, a new study from the University of Michigan Transportation Research Institute found that diesel owners save a significant amount compared to their counterparts with standard vehicles. 

According to the Institute's research, diesel drivers save approximately $2,000 to $6,000 throughout the course of three to five years of ownership when compared to those with standard gasoline vehicles. Many of these diesel automobiles are 20 percent to 40 percent more efficient than their counterparts, which allows motorists to spend less money on fuel. 

Lower depreciation also contributes to this savings. The study found 11 of 12 diesel vehicles retained more value than their gas equivalent in the span of three years, with eight of those cars boasting double-digit savings. 

"These new findings that clean diesel vehicles are a more cost-effective investment for car owners reinforces what auto analysts and other comparative studies have determined in recent years," said Allen Schaeffer, executive director of the Diesel Technology Forum. "The significant savings diesel owners experience compared to gas car owners highlights another major reason why clean diesel vehicle sales will increase significantly throughout the U.S. in the coming years." 

Drivers looking for ways to save money on their next used car should check out the selection of pre-owned vehicles at NJ State Auto Auction. Whether you want to find a diesel automobile or another low-cost option, the auction lot may have just the assortment of CARFAX-certified cars, trucks and vans to help you find the perfect ride.

Drivers Around The US Seeing More Traffic Congestion

Thursday, June 27th, 2013

There's nothing worse than being stuck in seemingly unending traffic. The long minutes spent at a standstill when you're behind the wheel can have you dreaming of your destination, especially if it is the summer and you're heading to a family party or the beach for some relaxation. Drivers who set out in the coming months may have to deal with this unwanted congestion, however, as traffic is expected to increase. 

The INRIX Gridlock Index recently released information regarding the projected traffic congestion throughout the summer months ahead. According to the research, May 2013 saw a 9.3 percent jump in traffic when compared to the same time last year, a result of more people driving cars frequently. The study also found that in the 100 most populated areas around the U.S., drivers needed more than 7 percent more time to reach a destination than in the past. 

"The overall rise in traffic in the first five months of the year is indicative of increased confidence in the direction of the economy," said INRIX CEO Bryan Mistele. "Renewed consumer spending, especially on new vehicles, means more shoppers at stores, more cars on the road and more traffic on our streets." 

Motorists in New Jersey will have to be particularly careful as to how they handle traffic. MSN reports that the state is considering a bill which would double the fines for drivers who linger in the left or center lanes instead of just using them to pass. Proponents of the legislation believe it will reduce the opportunity for road rage and help to improve the flow of traffic. 

No matter where they are, drivers will want to make sure their vehicle is ready for whatever heavy traffic they encounter throughout the summer. The Total Car Care Center at New Jersey State Auto Auction can provide a car tune up for motorists who want to have their vehicle looked at, as the garage caters to the public and is familiar with most common problems a car may have. 

Mazda3 Celebrates 10th Birthday

Wednesday, June 26th, 2013

Mazda employees are getting out their party hats to celebrate the birthday of the popular Mazda3. This compact car was born in 2003 when the very first model rolled off the production line on June 25 in Hofu, Japan. Ever since then, the Mazda3 has seen nothing but success, quickly becoming one of the most popular models on roads around the world. The car has received 136 awards in its 10-year history, and considering it has been a leader in innovation since its inception, odds are there is plenty of award-winning left to do for this sporty Japanese ride.

"The Mazda3 has been a huge success for us and is clearly a cornerstone of our model range," said Jeff Guyton, president and CEO of Mazda Motor Europe. "We've always aimed to exceed customer expectations with the Mazda3, and plan to continue raising the bar in the ultra-competitive C segment. Here's to another exciting decade."

With 10 years of models to choose from, it is easy for drivers to find the perfect fit. The Mazda3 is a fun, sporty vehicle that offers excitement on the road, making everything from a shopping trip to a weekend getaway an exciting experience. According to Kelley Blue Book, used versions can range from $6,000 to $15,000, making the car a viable option regardless of budget.

Drivers in the New York/New Jersey area can find the used Mazda they're looking for at New Jersey State Auto Auction. With a constantly revolving inventory, the dealership makes it easy to get behind the wheel of a reliable and affordable model. Plus, every vehicle in the inventory is CARFAX certified, ensuring car shoppers will be able to drive off the lot in a good car, whether they opt for a Mazda Mazda3 or another fun sedan.

Ford Looks At Vehicle Trends Across The US

Wednesday, June 26th, 2013

The type of car drivers are drawn to depends a lot on the individual's situation, but it also varies based on where they are in the world. Cities around the U.S. have their own distinct personalities, and some of that rubs off on the vehicles chosen in any given place. For that reason, Ford decided to take a look at which of its models were the most popular in different spots around the country, as well as what features are in demand for different locales. 

Ford found that Philadelphia drivers saw the appeal of environmentally friendly cars more than any other city. The City of Brotherly Love had more motorists going green with models that featured a fuel-saving EcoBoost engine and improved fuel efficiency. Places like San Francisco may typically be thought of as the more eco-friendly locales, but that Northern California city was actually the home of the most drivers who want top connectivity options. 

"Some may be surprised to see Philadelphia top Ford's EcoBoost engine list, but greener living has become a way of life no longer limited to the coasts as people try to save money at the pump," said Sheryl Connelly, the head of global consumer trends for Ford. "Technology has become mainstream, and we are living through an age of information addiction, which means people want to stay connected to their digital lives everywhere – including the car." 

New York City and its surrounding areas earned a special designation as well. Buyers in the Big Apple went for moonroofs more frequently than those in any other American metropolis. 

You may have a long list of features you're looking for in your next car, but the wide assortment of vehicles such as the one at NJ State Auto Auction could have just what you want. The CARFAX-certified cars, trucks and vans on the auction lot could be just what you need when you're shopping around for a used vehicle. 

July 4 Dubbed Most Dangerous Day for Driving

Wednesday, June 26th, 2013

The Fourth of July is a day to celebrate the birth of our country, our freedom and our independence, but it is also a very dangerous day for anyone getting into a car. The Insurance Institute for Highway Safety has found, by analyzing crash and accident data, that July 4 is the deadliest day to be on the road. Millions of Americans are traveling for the holiday this year, and many of them are doing so by car, which is why it is so important for drivers to take extra precautions whether they're taking a long trip or just driving to a friend's house in town.

According to the recent IIHS data, 670 fatal accidents occurred on July 4 in 2007 through 2011, which means an average of 134 people died each year on Independence Day. The Allstate Foundation issued a press release urging all drivers, especially teens, to abstain from unsafe behaviors behind the wheel such as texting and other distractions. Parents can talk to their teens about the dangers of distracted driving, but Allstate suggests one of the best courses of action can be to practice what they preach. If teens see their parents using phones while they drive, the youngsters are far more likely to follow suit than if Mom and Dad keep their phones out of reach while driving. The same is true for wearing seatbelts and obeying speed limits and other traffic laws.

In addition to safe driving, having a car that runs well can help improve a person's safety on the road this July Fourth. It is important to keep up with regular maintenance and routine oil changes to avoid suffering a breakdown or encountering other problems while driving. If your car is beyond repair, you might want to consider trading it in for a better model, and New Jersey State Auto Auction has plenty of used cars, trucks and SUVs to choose from in time for this Independence Day.

Ford F-150 Named The Most ‘American’ Car

Tuesday, June 25th, 2013

It's not uncommon to run into a motorist who expounds the virtues of American-made cars. However, the country of origin for a vehicle goes far beyond just the home nation of its main manufacturer. Where an automobile is produced, where it is driven and what it is made from all tie in to its background, which is why Cars.com starting compiling the American-Made Index. 

The index, which ranks vehicles based on the aforementioned three factors, found that the Ford F-150 is the "Most American" car on the market. The pickup truck narrowly edged out the Toyota Camry, which has claimed the No. 1 position for the past four years. 

"Strong sales and 75 percent domestic-parts content propelled Ford's popular F-150 to the top of the index for 2013, a rank it held from 2006 to 2008," said Patrick Olsen, the editor-in-chief of Cars.com. "Ford's top ranking this year is a good indicator of how pickup trucks are dominating auto sales so far in 2013, and how the domestic automakers are bouncing back. While the assembly point and domestic parts content of the F-150 didn't change from 2012 to 2013, vehicle sales are responsible for bumping the F-150 to the top spot." 

While the Ford F-150 and Toyota Camry claimed the first and second slots, the top five was rounded by the Dodge Avenger, Honda Odyssey and Toyota Sienna, respectively. 

Whether you're looking for a car that's American, Japanese, German or from any other country in the world, you can head to the lot at NJ State Auto Auction. It's home to plenty of CARFAX-certified cars, trucks and vans from a variety of manufacturers, and any one of these selections could serve as your next automobile. 

Tips for a Safe Drive to Your July Fourth Vacation

Tuesday, June 25th, 2013

Whether you're driving down to the shore to celebrate Independence Day or you're just going to a friend or family member's place for a festive barbecue this Fourth of July, you should make sure your car, truck or SUV is in good shape. As AAA has predicted there will be nearly 40.8 million people traveling for the holiday this year, it is especially important that you take precautions to have a safe trip.

With more cars on the road, the risk of crashes increases. Drivers will want to take steps to ensure they are as safe as possible so they can have a fun, worry-free vacation. No one wants to spend their July Fourth stranded on the side of a highway, waiting for a tow truck. Here are a few things you should check before starting your vacation:

The first step in getting your car ready for a road trip is to consider the last time you took it to the shop for a tune-up or an oil change. If it has been a while since you've done either, you might want to make arrangements to get these things taken care of soon. When it comes to oil changes, it's a good idea to check the fluid regardless of when it was last changed. Oil that is very dark in color or contains dirt and debris should be flushed and replaced, even if it's not time yet for the schedules change. These signs could point to a leak in the system, so a mechanic should inspect the car to be safe. 

You'll also want to check other fluid levels, including windshield washer fluid, transmission and brake fluid, and coolant. Check the tire pressure and add any air as needed. Packing an emergency kit is a good idea in case you do get stuck roadside. For matters requiring expert attention, bring your car to New Jersey Auto Auction's Total Car Care Center.

Kelley Blue Book Names The Coolest Affordable Cars

Monday, June 24th, 2013

Shopping around for cars is about more than finding the vehicle with great options under the hood – motorists also want a ride that's going to have them feeling cool as the cruise the open road. That's why Kelley Blue Book compiled a list of the 10 Coolest Cars Under $18,000. The vehicles awarded a spot on the list are among the top options for drivers who want to look and feel great behind the wheel, but don't want to break the bank to do so.

The Hyundai Velostar grabbed the No. 1 spot on the list, mostly because of its unique look and array of technological features. Other high picks include the Ford Focus, Kia Soul, Honda Fit and Dodge Dart, the four which filled out the remaining top five spots in the rankings, respectively. Each of the offerings was singled out for its polished exterior and a comfortable interior. 

The best part of these automobiles? All of them retail for under $18,000, making the cars affordable options for all kinds of drivers. 

"Quite frankly, automakers keep making it easier to pay them less," said Jack R. Nerad, an executive director with Kelley Blue Book. "While many inexpensive cars are decidedly uncool, the world's manufacturers are putting more personality and distinction into their lower-priced offerings. Not only have small cars never looked so good, but they have also never been more filled with cool content." 

Drivers who are searching for an affordable vehicle should check out the selection at NJ State Auto Auction. The auction lot has plenty of CARFAX-certified cars, trucks and vans that have a wide range of features and accouterments that can make the driving experience extraordinary. 

New Carfax App Helps Drivers Keep Their Vehicles in Tip-Top Shape

Monday, June 24th, 2013

Most drivers know that cars need regular maintenance to continue operating well and safely, but sticking to a tune-up schedule is easier said than done. It can be easy to simply let it slip your mind that your car is due for an oil change or other service, which is why Carfax recently unveiled its new app, myCARFAX. The app, available for iOS and Android mobile services, helps drivers keep track of their cars' health and maintenance schedule by tracking service history and reminding users when it's time to make an appointment with their mechanic.

"Keeping your vehicle well maintained can improve your resale value and keep your family safer," said Larry Gamache, communications director for Carfax. "Staying on top of what maintenance your car needs and when can be complicated, and keeping track of it all is a huge hassle. Now, myCARFAX does the work for you. Your car's service history is automatically stored in one place whenever you visit any of the 26,000 service locations that are partnered with Carfax."

The app also offers a garage locator for those who do not already have an auto shop they trust.

In addition to maintaining safety on the roads, regular tune-ups will equate to a better trade-in value when the time comes to get behind the wheel of your next ride. New Jersey State Auto Auction accepts trade-ins, making it easy to get rid of your current car and find the perfect used car, truck or SUV to replace it.

The dealer has a wide selection of makes and models, and every vehicle on the lot comes with a thorough Carfax history report. This allows car buyers to know exactly what they're getting, and ensures they'll drive off the lot in a safe and reliable ride.

Higher Auto Insurance Costs Cause Decline In Customer Satisfaction

Monday, June 24th, 2013

Drivers are always on the lookout for ways to save money when it comes to their cars. Whether it's taking a vehicle in for a tune up at a local garage like the Total Car Care Center at NJ State Auto Auction or shopping around for low insurance rates, these motorists know saving money is the key to a happy relationship with an automobile. 

A recent study from J.D. Power and Associates found that customer satisfaction with auto insurance companies decreased from 2012 to 2013. Although it reached an all-time high last year, growing rates have caused some drivers to voice their displeasure. The end result was a 10 percent drop in customer satisfaction – however, it is still at the second-highest level it has reached since 2000. 

"In 2013, there is a sharp rise in the number of customers who have experienced premium increases," said Jeremy Bowler, senior director of the global insurance practice at J.D. Power and Associates. "The dollar amount of those increases is also larger, averaging $153 in 2013, compared with an average rate increase of $113 reported in the 2012 study."

While many customers saw their insurance rates go up, only 16 percent spoke to their provider about the increase. Many others opted to change insurers as rates soared, with the majority of the drivers unhappy with how their insurance provider went about implementing the change. 

The study found the  Mid-Atlantic region voted State Farm as the top insurance provider with regard to customer satisfaction. Erie Insurance, GEICO and The Hartford were also well received across the area. 

The lot at New Jersey State Auto Auction is filled with CARFAX-certified cars, trucks and vans, all at an affordable price. These reliable vehicles can help drive down average vehicle maintenance costs, saving drivers money in the long run. 

Kia Earns High Quality Ranking In Annual Study

Friday, June 21st, 2013

Drivers are always on the hunt for cars that provide high quality at a low price. J.D. Power and Associates recently conducted its annual study to determine which vehicles offer the best initial quality, and two Kia models managed to land at the top of their respective segments. The Soul and Sportage were named as the leaders of the Compact Multi-Purpose Vehicle and the Sub-Compact CUV segments, respectively. 

This is the first time Kia, widely known as an affordable and value-driven brand, competed with more diverse automakers like Porsche, Chevrolet and Mercedes-Benz, USA Today reports. Overall, Kia and its parent company, Hyundai, earned the 10th spot in the quality rankings.

Cars were rated based on the driving experience, engine, transmission and the severity of problems reported by owners. Not only did Kia earn its best-ever score based on these categories, but it also posted large improvements that outpaced the industry average, further setting the brand apart from its competitors. 

"Kia Motors is committed to building vehicles that are defined by award-winning design, fun-to-drive performance and world-class quality, and the Soul and Sportage epitomize these attributes," said Byung Mo Ahn, president of Kia Motors America. "Achieving top-10 status within the industry reflects just how far the Kia brand has come in improving the ownership experience and vehicle quality for our customers and advancing value to new levels of sophistication across our entire model line." 

Whether you're looking for a Kia Soul or Sportage, or any other type of used car, you can head to New Jersey State Auto Auction to find a great selection of pre-owned vehicles. The auction lot is home to plenty of CARFAX-certified cars, trucks and vans that are capable of meeting the needs of any driver. 

Parents Can Help Teens Drive Safely

Thursday, June 20th, 2013

When teens learn to drive, the majority of their lessons will come from their parents, which means Mom and Dad need to take the task seriously. The Center for Disease Control and Prevention reports motorists between the ages of 16 and 19 are four times more likely to get into accident than older drivers. Parents should instill safe driving habits in their youngsters as they teach the kids how to operate vehicles safely. Not only should they teach their teens about traffic rules and best practices, but they ought to focus on dangerous behaviors such as talking on a cellphone, texting and eating behind the wheel too.

The National Association of Insurance Commissioners recently released a few guidelines for parents to follow when talking to their teens about safe driving. The association also included a contract for parents and teen drivers to sign together. It is available online and the rules are completely customizable, so parents can choose to instate rules about driving curfews, punishment for engaging in unsafe practices like texting, and always wearing a seat belt. Another important area of focus is having respect for other drivers as well as pedestrians when operating a car, truck or SUV.

"Respect for driving and common courtesy on the road show you care not only about your life, but also the lives of others," said Tyler Presnell, founder of the Tyler Presnell Foundation, which partnered with the NAIC to create the guidelines. "Individuals behind-the-wheel and passengers owe consideration to those around them."

In addition to learning the safest driving behaviors, youngsters will need reliable cars. Parents can bring their teens to New Jersey State Auto Auction to find the perfect used car. Every model on the lot is backed by a CARFAX report, so parents and new drivers will know they're choosing a ride in good shape.

Fewer Americans To Take Road Trips This Independence Day

Thursday, June 20th, 2013

The Fourth of July is one of the most beloved holidays in the U.S. Every year, millions of families and friends come together to honor Independence Day, celebrating the holiday with barbecues, parties, beach trips and much more. 

A recent survey from AAA found that more than 40.8 million Americans are expected to hit the roads this Fourth of July. While this is quite a large number, it represents a decrease of approximately 0.8 percent from last year. Part of this decrease is due to the fact that the holiday falls on a Thursday, which creates a shorter extended weekend than most travelers would like and gives drivers fewer options for getaways. 

"This year, nearly 41 million Americans plan to celebrate the nation's birthday with a getaway, a slight decline from last year," said Richard L. Darbelnet, president and CEO of AAA. "… Independence Day is typically the busiest holiday of the summer travel season with 6 million more Americans traveling than Memorial Day just two months ago. The Fourth of July benefits from the fact that all schools across the nation are out of session, making it truly a time for family fun." 

Of those setting out on trips, about 84 percent will use a car to reach their destination. This means nearly 35 million people will be on the roads, with the majority departing for their getaways Wednesday, July 3 and returning Sunday, July 7. On average, these motorists will drive more than 600 miles round trip. 

Before setting out on a road trip this summer, drivers should be sure to take their car in for a tune up at NJ State Auto Auction. The garage at the Total Car Care Center can handle any problems you may think are plaguing a vehicle. 

Long Island Man Sees His Volvo Cross 3 Million Mile Mark

Wednesday, June 19th, 2013

It's no secret that proper maintenance can help keep a car on the road for many years, but it takes extreme dedication to see your car's speedometer surpass the million mile mark. Irv Gordon, a 73-year-old Long Island native, already left that milestone far behind and even holds the Guinness World Record for most miles driven by a non-commercial vehicle. His 1966 Volvo P1800 earned that title when it reached 1.69 million miles, but Gordon did not stop there.

The retired science teacher will soon surpass 3 million miles with his trusted automobile, but he is modest about his accomplishments.

"It's not about getting to the 3 million miles, it's about the trips that got me to the 3 million miles," Gordon explained. "I never had a goal to get to 1 million, to 2 million. I just enjoyed driving and experiencing life through my Volvo."

Gordon is planning a trip to Alaska in September that should take his car past the 3-million-mile mark, and it will be a new experience for this traveler. Alaska is one of two states Gordon has yet to visit, attesting to the love of adventure that has gotten him, and his Volvo, this far.

John Maloney, president and CEO of Volvo Cars of North America, believes that Gordon's respect for his vehicle is the main reason it has lasted so long. Everything from safe driving practices and routine oil changes to addressing issues as they emerged and being vigilant about care and repairs has helped Gordon's Volvo stay in such good shape.

Drivers in the New York/New Jersey area who want to take a page from Gordon's book can start by bringing their rides to New Jersey Auto Auction's Total Car Care Center. The experts at this garage, which is open to the public, can help car owners with everything from regular maintenance to major repairs.

Drivers Can Get Mixed Signals From Navigation Devices

Wednesday, June 19th, 2013

New technologies have drastically changed the way people approach driving. You can do everything from customize your music choices to receive video feeds of the space behind your vehicle, making it easier and more enjoyable to get around. Several advancements have also impacted how motorists find their way to destinations, although not all of the effects are positive. 

Recently, Harris Interactive conducted a study for Michelin that found most drivers have been led astray by their GPS device. Whether they use a special device or a smartphone with navigation capabilities, about 63 percent received faulty directions from a system. These mishaps aren't a one-time occurrence, either, as adults say they have gotten thrown off course nearly five separate times. 

While GPS devices can be a major help, many individuals choose to use old fashioned paper maps as they attempt to get around a new place. Nearly 40 percent of U.S. drivers say these physical maps are their top choice when it comes to directions, and about 46 percent of motorists at least keep a paper map in their vehicle in case of an emergency. 

"Technology is great, but a printed map is one of the most important tools a traveler in an unfamiliar setting can have – the battery doesn't die, it is easy to use and it allows you to make decisions on route changes if necessary," said Michelin's editorial director Cynthia Ochterbeck. 

Still, some drivers want to look for used cars that have top-of-the-line navigation systems installed – or at the very least, pre-owned vehicles that are reliable in the event you find yourself in some unknown territory. At New Jersey State Auto Auction, you can browse through a large selection of CARFAX-certified cars, trucks and vans, any one of which could be your next ride. 

Watch Key Areas Of Car Maintenance To Extend The Life Of A Vehicle

Wednesday, June 19th, 2013

Narrowing down your search for a vehicle can be difficult, but keeping up with the maintenance is even more time consuming. Drivers who are constantly monitoring their car's performance can stay ahead of the curve and take preventative measures that will extend the life of their automobile – and potentially cut down on costs as well.

There are a few key areas these motorists should be focusing on when it comes to their vehicle maintenance, including the tires and fluid levels, which can make a major difference in a car. Changes in temperature can wreak havoc on tire pressure, so you should constantly be checking tires. Spot checks and quick examinations may be all you need to stay on top of tire maintenance, but if you notice the wheels are underinflated or overinflated, take the proper steps to repair the problem. 

Heat-related breakdowns are quite common in the summer months. To prevent these hiccups from disrupting your driving, be sure to pay close attention to your HVAC system and coolant levels. If you notice the air conditioning isn't up to par, it may be time to bring the vehicle in for a tune up or for minor repairs. Additionally, coolants keep the temperature of the engine down, and drivers can fill their car's liquid coolant reservoir to the proper level so it continues to do its job. 

If you think there's something wrong with your vehicle or you're just ready to get your car a tune-up, you can bring it over to the Total Car Care Center at New Jersey State Auto Auction. The garage caters to the public and can help you address any issues relating to your automobile. 

Ford F-150 Emerges As The Winner Of The Pickup Challenge

Tuesday, June 18th, 2013

When it comes to choosing between pickup trucks, it can be tough to single out the best of the best. With the help of competitions like the Light-Duty Pickup Truck Challenge, conducted by PickupTrucks.com, drivers can get some guidance as they seek out the top options for their needs. 

PickupTrucks.com pitted six of the top trucks against each other for its Light-Duty Pickup Truck Challenge. At the end of the competition, the Ford F-150 narrowly beat the Ram 1500 for the No. 1 spot. The two models also outdistanced the four other entrants, which were the GMC Sierra 1500, Chevrolet Silverado 1500, Nissan Titan Pro 4-X and Toyota Tundra. 

Each truck was judged based on how it performed in a number of categories, including hill climb ability, fuel economy, handling, and acceleration and braking. They were also evaluated on the quality of the interior and exterior, towing capabilities and the value for the price. 

"The F-150 is the best-selling half-ton truck in the U.S., and after conducting this testing, it's no surprise why," said Mark Williams, the editor of PickupTrucks.com. "It was a tight contest, with Ford, Ram and GMC finishing close together, but the F-150's performance and capability gave it an edge. Shoppers looking … in this competitive truck market have several great options and should consider which one best meets their needs." 

With the Ford F-150 claiming the title of the top selling truck as well as the winner of this challenge, many motorists may consider models from the lineup as a possibility for their next car. Drivers searching for a top truck selection can look at the assortment of vehicles at NJ State Auto Auction. The auction lot is home to a number of CARFAX-certified cars, trucks and vans, meaning you can find a used vehicle capable of handling anything. 

CarFinance Reveals Top 10 Most Refinanced Vehicles

Monday, June 17th, 2013

Below-prime car buyers are usually tuned into the financial aspect of purchasing a used automobile. They frequently search for the best interest rates and manageable monthly payments, but some motorists who invested in cars over the past few years are now attempting to refinance their auto loans and payments. 

Refinancing offers drivers a chance to lower interest rates, which is why more than 14 percent of existing auto contracts could be redone in 2014. That would mark a 12 percent increase from 2012. 

According to a new study from CarFinance, the Nissan Altima, Ram 1500 and Honda Accord were the three most frequently refinanced vehicles in 2012.  Other models on the list include the Toyota Camry, Dodge Charger, Ford F-150 and Toyota Corolla. While these are among the most popular automobiles on the market, they are also some of the most reliable and fuel efficient – meaning drivers are investing in cars that are built to last. 

"As this list indicates, these are generally sensible consumers owning practical vehicles and making prudent choices to help them weather and survive an economy that has challenged so many," said Jim Landy, CEO of CarFinance. "This is not a list dominated by luxury vehicles – quite the opposite – and, with longer ownership cycles and the quality of even the most economical of vehicles higher than ever before, making that investment work for the long term can make a lot of sense in the current economic climate." 

Drivers who are ready to invest in their next vehicle can head to NJ State Auto Auction as they search for the right ride. The lot is filled with CARFAX-certified cars, trucks and vans, all at affordable prices, making it manageable for any motorists to invest in a new automobile.