Buying a Used Car on Limited Income

For people with a limited income, it may seem like buying a used car is out of the question. Regardless of your current driving situation, getting behind the wheel of a newer vehicle could be just a pipe dream until you have more money coming in. While a restricted budget certainly presents a number of challenges, MSN Autos reports that there are ways around them, it all depends on how wisely you shop.

The most important thing to consider is what type of car you can afford. While some may want to hold out for a new vehicle, buying a used car is likely the better option. Experts say that pre-owned vehicles are as reliable as ever and, depending on how old they are, can include a number of convenient features.

Even 10-year-old cars can be attractive options for people operating on a limited budget. For example, MSN Autos found a 2002 Toyota Camry with about 111,000 miles that was going for $7,000 – certainly an affordable prices for a model widely regarded for its reliability.

The same can be said for minivans. Consumers looking for an affordable method of transporting their family should look into the Chrysler Town and Country. Specifically, the 2003 model fared especially well in terms of affordability and reliability, according to J.D. Power and Associates.

Choosing the right car is only the first step, and sometimes auto financing can be difficult for people with limited means as well, especially if they have poor credit history. However, at New Jersey State Auto Auction, there is no need to worry. Thanks to a partnership with the Credit Acceptance Corporation, New Jersey Auto is able to offer guaranteed credit approval in just a matter of minutes.

Used Car Prices May Rise, Best to Buy Now

Anybody mulling over the purchase of a used car may want to make up their mind quickly. Kelley Blue Book expects prices of pre-owned vehicles to rise during the first quarter of 2012, and now may be the best time to head to New Jersey State Auto Auction to make a purchase.

Though prices have remained relatively flat throughout the first few weeks of the year, experts believe that the trend will not continue. In fact, forecasters say prices could rise as much as 5 percent over the next couple months, so it's best for shoppers to act fast. Certain cars will tend to be a bit more expensive than others, so choosing wisely is especially important as well.

"Consumers eyeing one of the many highly acclaimed redesigned 2011 model-year vehicles for their next used car should be prepared to pay a significant premium," said Alec Gutierrez, senior market analyst of automotive insights for Kelley Blue Book. "For example, the 2011 Chevrolet Cruze and Kia Optima currently maintain a premium higher than 40 percent versus the 2010 model-year counterpart, significantly outperforming the Honda Accord and Toyota Corolla, which weren't redesigned for model-year 2011."

The reason behind the expected price increase lies in the fact that many people are holding onto their vehicles longer than ever rather than trading them in. As a result, supply of used cars has dropped considerably while demand is still high.

Heading to New Jersey State Auto Auction can help remedy both situations. Thanks to it being an AutoTrader.com trade-in marketplace dealer, New Jersey Auto offers its customers the opportunity to get a substantial return on their car. Not only that, but it has a wide variety of makes and models at affordable prices.

Hyundai Tops in Customer Loyalty

Hyundai is having quite a run. Just weeks after winning the coveted North American Car of the Year award for the popular Elantra, a J.D. Power and Associates report found that the manufacturer is at the top of the list when it comes to customer loyalty. Hyundai has a 64 percent retention rate beating out stalwarts of the industry including Honda, Ford and Jeep.

The findings are especially impressive given the fact that Hyundai has been criticized over the last decade for manufacturing unreliable cars. However, officials have made a concerted effort to appeal to customers through initiatives like their Assurance Program, which guarantees buy backs for Hyundai vehicles. Not only that, but the reputation of the brand is changing as well.

"Hyundai's increased retention rate is shaped by its expanding model lineup, as well as the fact that perceptions of the brand’s quality and appeal have continued to improve during the past decade," said Raffi Festekjian, the director of automotive research at J.D. Power and Associates.

The 64 percent retention rate marks a 4 percent jump compared to 2010 and places Hyundai well above the industry average of 49 percent. Ford and Honda came in second place with 60 percent, and BMW and Kia rounded out the top five with 59 percent each.

The study also found that women and young adults are more likely to buy a different brand with their next purchase. Whether you are looking to get behind the wheel of the same make and model or if you're heading in a completely different direction, New Jersey State Auto Auction is the place to go. With a wide selection of used cars at affordable prices, there is something for everybody.

Ford Taurus Among Best Used Car Deals

Used cars give prospective buyers a great way to save money while still offering a reliable ride. Though smart shoppers are likely to get a good deal, there are certain makes and models that offer more bang for the buck. Forbes recently released its list of best used cars for the money.

At the top of the list is the 2008 Ford Taurus. Despite being a longtime favorite among motorists, the car has a relatively low resale value. This is great for people looking to get behind the wheel of a reliable sedan, and the publication estimates you can find it for around $14,700.

Good deals can be found for more high-end vehicles as well. The 2008 Cadillac DTS is a great option, experts say. This luxurious ride made the cut because it offers plenty of power and safety features such as blind-spot and lane-departure warning.

There are also plenty of options available to people looking for an SUV. According to Forbes, the 2008 Chevrolet Trailblazer comes in both V6 and V8 models and can be driven off the lot for less than $20,000.

Finding an affordable car is not the only reason you may want to buy used. According to Edmunds, one of the biggest advantages of buying a pre-owned vehicle is that you'll save money on insurance, and some used cars may still be under factor warranty. Not only that, but if you're a savvy shopper you can find better discounts.

New Jersey State Auto Auction is a great place for anybody looking for a used car. The dealer offers a wide variety of makes and models at affordable prices, all of which are Carfax certified.

Take Steps Now to Help Your Car Reach 200K Miles

Despite an improving economy, many drivers are still holding on to their cars as long as possible to ensure they get the most out of their investment. It is certainly a wise decision, but sometimes motorists may be unsure about how to go about doing it. According to CarJunky.com, there are a number of day-to-day things  drivers can do to help their cars stay on the road.

Storage can play a large role in how long your car lasts. Keeping your in a garage is must, but sometimes motorists use their garage as a place to keep other household items and leave their ride out in the elements. Those without a garage should invest in a car cover and check for bugs or other pests that can get under the tarp.

How you drive your car can also play a big role in how many miles you can get out of it. According to the website, regularly accelerating and cornering too quickly can put unnecessary strain on your vehicle.

Perhaps most importantly, you cannot ignore regular maintenance. Following the schedule outlined in the owner's manual is crucial, and you should be sure to stay on top of components such as brake pads and filters.

"Giving the car an occasional wash and wax is nice but really not as important as regular maintenance," Tom Taylor, engineer and vice president of RockAuto.com, told the website. "Driving and maintaining your car as if it needs to last for at least 200,000 miles or 20 years is a smart way to preserve the value of an expensive asset."

New Jersey State Auto Auction's Total Car Care center is a great resource for drivers looking to extend the life of their car. Located in Jersey City, the center is open to the public and offers everything from repairs to regular upkeep.

2012 to be a Good Year for Car Loans

Due to the uncertain economy, the last few years have proven to be a difficult time to get a car loan. That's about to change in 2012. As numbers improve and consumers are more likely to buy cars, it looks like lenders are also going to approve more loan applications. The Detroit Free Press reports that the average loan rate is about 1 percent lower than last year, making it the perfect time to head to New Jersey State Auto Auction to buy a used car.

"Financing will continue to be very, very affordable for most buyers," Alec Gutierrez, senior market analyst for Kelley Blue Book, told the newspaper. "You might actually have better luck than you thought with 0 percent."

The sheer number of auto loans is also on the rise. Through the first three quarters of 2011, there were 14.7 million loans, according to the news source. This is especially impressive once you consider that during the same period in 2010 there were only 13 million, and in 2009 there were only 11.7 million.

The news is even good for people with credit scores that may not be up to the level they want. In the third quarter of 2011, lending to less-than-prime borrowers was up 14.8 percent compared to the same period in 2010, Experian found.

If your credit history is not as spotless as it could be, New Jersey State Auto Auction is a great option. Thanks to a partnership with the Credit Acceptance Corporation, the dealer is able to offer guaranteed approval in just a matter of minutes. Not only will you be behind the wheel of a used car, but by paying back the loan on time, you can rebuild your credit.

When You Should Get Your Car Looked At

Though most people may say they know a thing or two about their car's maintenance, results of a recent study show that it might not be true. Regular upkeep is a crucial part of owning a vehicle, especially in an uncertain times, yet some people may not know how often they have to take their car to get looked at, ABC affiliate KSAT reports.

A survey by consumer reviews website Angie's List found that while 32 percent of respondents get their oil changed at the regular intervals, the same amount tend to skip more important regular service checks on their car. The refusal to do so could spell doom for your car, and there are a few warning signs that should tip off drivers it's time to take their car to a mechanic.

Warning light indicators are there for a reason and the news channel says that they should not be ignored. Though they could be indicative of a minor issue, if the check engine light or service engine light come on, it is a good idea to head to the mechanic.

How your car is driving can play a large role in determining whether you should get it serviced or not. For example, if it makes screeching or grinding noises whenever you slow down, this could be a sign that your brake pads or rotors are not functioning as they should or are worn down. Additionally, the news channel reports that if your car is vibrating or running unusually loud, it should be looked at as soon as possible.

New Jersey State Auto Auction offers anybody looking to have their car inspected by a mechanic the opportunity to do so, thanks to its Total Car Care center. Whether you need a repair or a regular check up, it is a reliable place to go.

Modest Economic Improvements Highlight Appeal of Used Cars

From shrinking unemployment to growing consumer confidence, there has been a lot of encouraging news regarding the economy in recent weeks. While it is certainly cause for optimism, analysts are quick to point out that there is still a long road to recovery. People may want to still make smart financial moves, like heading to New Jersey State Auto Auction to buy a used car.

One of the biggest reasons behind the cautiousness is the Euro debt crisis. Europe has been struggling to come up with a long-term debt reduction plan. As a result, the chances of slipping back into a recession are still very real. Additionally, high gas prices are likely to stay high, given prolonged conflict in the Middle East, so a fuel-efficient used car may be a great idea.

Unemployment has dropped in the last several months, and while that is certainly good news, analysts from Kelley Blue Book believe it may still be high throughout much of 2012. The trend will certainly have an impact on the economy.

"The current duration of unemployment has grown consistently since 2008 and currently stands at a high of 41 weeks," Alec Gutierrez, KBB's senior market analyst, wrote. However, he added that the auto industry may still see a slight rise in sales compared to 2011.

The bottom line is that while the economy has definitely improved over the last several months, there is no need to do away with being cautious. Buying a used car is a great way to save money while still enjoying the financial freedom that the improvements have brought. New Jersey State Auto Auction is a great place to go for a used car and has plenty of makes and models at affordable prices.

The Best Cars to Trade-In

If you are in the market for a used car, trading-in your current model can be an excellent move. Not only will you no longer be saddled with the old vehicle, but you may get some money off on the one you purchase as well. The market is especially good for trade-ins now due to a depleted used car inventory, and according to Forbes, there are several models what will yield the biggest returns.

Starting off is the Jeep Wrangler. The Wrangler is popular among a wide spectrum of drivers due to its versatility. It can attract more casual motorists as well as those who want to take it off road. Analysts found that a 2008 two-door model with around 46,000 miles could get as much as 90 percent of its original value, with the four-door model getting 91 percent.

When it comes to pickups , the Toyota Tacoma performs quite well. According to Forbes, the decrease in demand for pickups has not hurt the trade-in value of the Tacoma, with a 2008 model getting drivers 72 percent of the original price. The news is even better for those trading in the four-door variety, which could get up to 87 percent.

As for smaller cars, the publication says that the Mini Cooper retains its value very well and could make owners happy when they go to trade it in. The ride might command as much as 77 percent of its sticker price because it is high in demand among young drivers.

Regardless of what car you have, New Jersey State Auto Auction is a great place to go if you're looking to trade in your current vehicle. The dealer is an Autotrader.com Trade In Marketplace Dealership so you can get an accurate and fair appraisal in no time.

Borrowing Rises Almost 10 percent in November

Spurred by the holiday season, consumers borrowing in November – on everything from credit cards to car loans – experienced its fastest growth in 10 years. Analysts found that borrowing rose 9.9 percent during the month, a clear sign that consumers are becoming more confident thanks to the recovering economy, The Wall Street Journal reports.

The findings come after buyers had been limiting incurring any debt, but industry insiders found that the number of car and student loans has been on a moderate incline for some time. The increase in confidence may indicate that it's a great time to buy a used car or make other big purchases.

"Consumer credit growth is a positive sign for the recovery in that it signals increasing demand and willingness to spend," economist Paul Edelstein told his employees, the WSJ reports.

The growing tendency of consumers to get a car loan is just one of many encouraging signs that point toward economic recovery. After a dip to 8.6 percent in November, unemployment fell once again in 8.5 percent in December. While some analysts are quick to point out that the United States will have to add around 250,000 jobs a month to make a significant improvement, any decrease is a good sign.

Anybody who is looking to take advantage of the improving economic conditions may want to head to New Jersey State Auto Auction. Thanks to a partnership with Credit Acceptance Corp., the dealer offers automatic credit approval. Even if your score has been hurt by the economic downturn, getting accepted for a loan is not something you have to worry about. Additionally, making payments on time is a great way to rebuild your credit score.