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Why You Should Buy Used Cars

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Posted in Auto Industry News

When you finally decide to upgrade your ride, you've got a lot of tough choices to make. On the surface, these decisions may seem much more difficult than they are, as used cars offer quality and value that are hard to beat. Once you take a good, long look at some used vehicles, you may find that they have everything you want and more – in addition to providing some financial relief. 

Here are three reasons why buying a used car is better than buying new. 

You know what you're getting 
One of the biggest reasons used cars can be better than new ones is because they're known commodities. Brand new models frequently have glitches or other issues that aren't discovered until they hit the road. If you want to avoid recalls, time-consuming repairs and dangerous situations, select a used car that has a reputation for reliability and success. That way, you can rest assured that the car is ready and able to perform on the roads. 

Maintenance keeps it running like new
If someone were to argue the case for a new car, they may claim that it runs better and more smoothly than its used counterpart. However, people who take care of their older vehicles with the proper preventative maintenance don't have much to worry about. Regular tune-ups, oil changes and washes keeps cars looking and performing like new. If you can find a model that's been cared for by previous owners – something that's relatively easy to check with a vehicle history report and examination – you could get that new car experience without the price. 

3. More money for car-related expenses 
Buying a new car can leave you strapped for cash. Not only is the sticker price high, you've also got to fork over more for insurance premiums and pay back bigger loans. With used vehicles, however, you can save money without sacrificing the features you want. 

At New Jersey State Auto Auction, you can browse through hundreds of Carfax-certified used cars, trucks and vans to find the one that's right for you. Many of these vehicles are a great value, as they're high quality options at affordable prices. If you want to get the most bang for your buck, take a look at some of these used cars for sale. 

What Is An Auto Auction?

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Posted in Auto Industry News

By now, you've probably heard some rumblings about the opportunities at New Jersey State Auto Auction. Our lot has hundreds of Carfax-certified used cars for you to browse through, in addition to special perks like the financing department and the Total Car Care Center. But still, many people are unsure of how our processes work, and we want to clear up some of the confusion. 

What is an auto auction? 
Just like the name implies, New Jersey State Auto Auction offers a chance for customers to bid on the car they want. This gives them the opportunity to get a high-quality vehicle for a low price, as they only have to bid what they think the car is worth. Competition may raise the prices, but the setup gives drivers a chance to capitalize on great deals. The process may take a while, as people have to register to bid and close out sales, but the potential payoff makes it worthwhile. 

3 tips for buyers 
Are you considering checking out the selection at NJ State Auto? If so, then keep in mind these three tips.

1. Do your research 
Auto auctions may seem overwhelming, but they don't have to be. It's easy for you to conduct some preliminary research on your own to narrow down your car search. Check out the details about the exact car you'll be bidding on and browse through our selection from the comfort of your own home. You can even register to bid on cars, which gets the process started by completing some paperwork. 

2. Figure out how you want to pay 
Many people aren't aware that they have options when it comes to paying for the vehicle – at least to start. While our in-house finance team can finalize loans and credit approvals, you'll need to have a way to transfer money for the bidding process. Many customers use PayPal, as this service provides an easy and secure way to make payments to a wide variety of businesses. However, we also accept all major credit cards, so you don't have to sign up for anything you don't want to. 

3. Know your options 
Of course, we do have another option for drivers. If you don't want to wait any longer to get behind the wheel of a car, you can select "Buy It Now." This allows you to pay for your choice and secure ownership in a very short amount of time – we even offer same day pickup. You'll drive off the lot with the bill of sale, title, temporary license plates and even financing or a warranty in place. 

Used Cars Offer Relief From High Prices

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Posted in Auto Loans & Financing News

That new car smell may be appealing, but it's going to cost you. Vehicles fresh off the production line frequently come equipped with impressive features and sleek aesthetics, but the investment isn't always all it's cracked up to be. 

New cars are too expensive for many
According to recent data, the average cost of new vehicles went up in the month of November. Kelley Blue Book found that prices increased 1.7 percent from the same time in 2013. In fact, they've even grown since October of this year, with the average cost jumping $568, or 0.5 percent.  

At the same time, incentives have gone down, limiting the opportunities buyers have to save. Cars.com reported that incentive spending decreased 1.5 percent from October to November, marking the third straight month that these savings have shrunk. 

"Rising transaction prices are a reflection of stronger pricing in truck and utility segments," said Alec Gutierrez, senior analyst for Kelley Blue Book. "Domestic automakers will be the main beneficiaries of this trend, as full-size pickup prices are up by an average of 4.3 percent, with the Big Three [Ford, General Motors and Chrysler] making up 94 percent of segment sales."

Used vehicles provide value
Although the cost of new cars continues to rise, there is some good news for drivers: They can find used cars that offer plenty of savings without a huge drop in quality. USA Today reported that more people looked to used cars in November in the hopes of finding some good investments. As a result, some expenses are going up, but not nearly enough to rival new models. 

Many drivers are finding that used cars boast a ton of perks. In addition to being less of a strain on the wallet than their counterparts, these vehicles offer many similar safety features and tech capabilities. When taken care of correctly and treated with the proper maintenance, used cars present a worthy choice for motorists.  

Anyone looking for a great deal on used cars should head over to NJ State Auto Auction. This lot is home to hundreds of Carfax-certified cars, trucks and vans, allowing drivers to select the perfect fit for their needs. It even has an in-house financing team whose mission is to secure loans and get you behind the wheel quickly. 

Vehicle Health Index Sheds Light On Reliable Used Cars

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Posted in Auto Industry News

When you're searching for a used car, you've got a lot to consider. Chief among your concerns will be how the vehicle fits in your budget – meaning you must think about insurance premiums, monthly payments, fuel efficiency and repair costs. To help drivers get through this tough battle, CarMD recently released its 2014 Vehicle Health Index. 

Finding the most reliable cars
The index is designed to identify the car models with the fewest "check engine"-related repairs, as well as the vehicles that are associated with the lowest repair costs. It looks at more than 40,000 maintenance issues from vehicles dating back to the 2004 model year, all of which occurred from Oct. 1, 2013 to Sept. 30, 2014. 

According to the data, the top manufacturer for few repairs is Honda, which barely beat out Hyundai for the No. 1 spot. They were followed by Toyota, General Motors and Ford. As far as individual vehicles go, the 2012 Toyota Camry rated as the best. This is the second consecutive year this model emerged as the winner, leading the way for five Toyota cars to land in the top 10. 

As far as cost goes, drivers would be smart to look at Mazda. The brand had the lowest average repair expenses, with $302.92 being the typical price. 

What you need to know
Taking a look at some of the most reliable makes and models could give you an idea for your next purchase. Drivers who want to keep costs down would be well-served to take a look at the rankings. Vehicles that tend to be more reliable or have lower average costs could help motorists save time and money. 

"While this index is based on in-use vehicle repairs needed over the past year, it has also proven to be a useful tool in helping car and truck shoppers make informed decisions about the vehicles they are considering," said Doug Sobieski, chief marketing officer of CarMD.

If you're searching for a reliable used car, look no further than NJ State Auto Auction. This lot is home to hundreds of Carfax-certified used cars, trucks and vans. One of these vehicles could be your next ride – thanks in large part to the in-house experts who help drivers with everything from auto financing and loans to car repairs. 

What Factors Affect Used Car Values?

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Posted in Auto Industry News

So you want to buy a used car – now what? For most people, the next steps will involve setting a budget and turning to facilities like NJ State Auto Auction for help. While this is a great start, especially for those who need some financial guidance or aren't sure what type of car they want, drivers also need to brush up on their knowledge. 

For instance, prospective buyers should know which features will drive up the price on their desired cars. The NADA Used Car Guide recently outlined a few aspects of a vehicle that will impact the bottom line. It's important for motorists to have a firm grasp of these factors, as well as a few more traditional qualities, to be in the best position to find used cars.   

Mileage
Most drivers know that mileage has a significant effect on a car's value. It's one of the best ways to judge how much wear and tear the vehicle has gone through. This number can also be used as an indicator of what repairs or maintenance issues may pop up in the future. Make sure you get a vehicle history report to determine what's already been done. 

Vehicle redesigns 
According to the NADA, one of the most important factors that impacts value is vehicle redesigns. A car that is just one year newer but has undergone a redesign may be worth as much as 35 percent more than its older counterpart, the organization stated, and it's mostly due to the exterior look. So what does that mean for you? If you want value, try looking for models from right before a redesign. They'll carry many of the same features at a fraction of the price. 

Secondary features 
The NADA noted that the secondary features that impact car prices may surprise some. Fuel economy and power train are two of the most important qualities that go into price. While that's not unusual, what may shock drivers is that these numbers typically outweigh safety features. Similarly, warranties and reliability ratings are also not as important as things like horsepower and torque. 

Drivers will have to find just the right blend of features and value before deciding on the used car of their dreams. Luckily, places like NJ State Auto can help. With hundreds of Carfax-certified used vehicles on the lot, it's the perfect place to begin your search for an affordable model. 

Used Car Loans Reach Record High

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Posted in Auto Loans & Financing News

Although there may be many used cars that you find appealing, finding one that is affordable is a whole new challenge. That's why a growing number of buyers are seeking the help of loans. These options aren't just reserved for high-priced new models, as more motorists are using them to land behind the wheel of a quality used car. 

Loans keep getting bigger
According to Experian Automotive, the average amount of a used car loan has been steadily increasing. In the third quarter of 2014, it even hit a record high of $18,576, which is a $676 increase from the same time in 2013. While the average loan amount has grown, so too has the average loan term. Drivers are striving to keep their monthly expenses down, and as a result, they typically sign up for longer terms that spread out the payments. 

"Car buyers tend to shop with a monthly payment in mind. As a result, we are continuing to see them turn to leasing and longer loan lengths as strategies to keep payments down and make vehicles more affordable," said Melinda Zabritski, senior director of automotive finance for Experian. "As car values continue to reach new heights, these insights will help dealers, lenders and consumers become more aware of the options available to them to keep people buying cars, all while staying within their budgets."

Good news for subprime buyers
People who are facing a tight budget can find some good news relating to car loans. According to Experian's data, the average credit score for used vehicle loans only rose two points to 650. That's relatively steady, especially considering the fact that more than half – 54.1 percent – of all used vehicle transactions involved some kind of loan. 

Interest rates have also been decreasing throughout the year. Although the average rate has risen from the same time last year, it's down when compared to previous months, Experian reported. 

Find the best deal for you
Selecting the right loan and the perfect used car can be an uphill battle. That's why it helps to have a team you can trust, just like the crew of experts on hand at New Jersey State Auto Auction. This lot is home to hundreds of Carfax-certified vehicles, as well an in-house financing team dedicated to helping you afford the car, van or truck you want. 

Study Shows When Drivers Use Cellphones

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Posted in General Auto News

Distracted driving remains one of the biggest enemies of motorists. When you're trying to stay safe on the roads and limit the possibility of expensive repairs, you can't risk taking your eyes off the road ahead for a second. Unfortunately, many drivers are unable to detach themselves from their cellphones. 

When drivers use phones
A recent study from State Farm examined when drivers whip out their cellphones, as well as when they're most likely to ignore the electronics. According to the survey, about 63 percent of drivers say they'll use a cellphone while stopped at a red light, while another 30 percent report using it on an open highway. 

Certain circumstances may inspire drivers to keep their phones away. The study noted that inclement weather, such as ice, snow, rain and fog, is most likely to deter the use of cellphones. Similarly, motorists are hesitant to take out smartphones in a construction or school zone, when it's dark outside or if there's lots of traffic. 

The long-term study revealed that drivers are talking less on cellphones, but they continue to text, surf the Internet, check emails and read social media sites. 

"These six-year trends make it apparent that smartphones have created many new distractions for drivers to juggle," said Chris Mullen, director of technology research at State Farm. "While much attention is paid to the dangers of talking and texting while driving, it's critical that we also address the increasing use of other smartphone features and other sources of distraction." 

Taking advantage of safety features
Many states forbid drivers from using cellphones behind the wheel, but that doesn't stop many motorists – despite the safety risks. Certain applications and car features are making phones safer, however. Many vehicles have hands-free technology and crash avoidance features that allow drivers to prioritize safety. This isn't limited to brand new models either, as these features have been around for several years and can be found in used cars if drivers know where to look. 

Putting down the electronics is just one way of staying safe on the roads. It also helps to have a vehicle equipped with all of the safety features and capabilities you need. To find one of these, start looking at New Jersey State Auto Auction. The lot contains hundreds of Carfax-certified cars, trucks and vans, many of which offer great amenities that drivers will want in their next ride. 

Bald Tires Are A Winter Danger

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Posted in General Auto News

Vehicle safety is one aspect of owning a car that cannot be ignored. There's a lot of work that goes into this, and scheduling tune ups and taking care of repairs are just two of the many tasks that need to be accomplished. 

Know the dangers
According to the Rubber Manufacturers Association, about 12 percent of the cars headed out on the roads this fall have bald tires. That creates a safety risk for drivers and passengers, which isn't something anybody likes to do. 

"Bald tires are dangerous," said Dan Zielinski, RMA senior vice president, public affairs. "A tire is considered bald when tread depth reaches 2/32nds inch. Bald tires have longer stopping distances and do not grip the road properly, particularly in wet weather conditions. Fortunately, there's a simple method to determine whether tire tread depth is safe: all you need is a penny." 

Monitor your tires
You can get a jump start on tire maintenance simply by observing your wheels. As the RMA suggested, the penny test should be done regularly. All you need for this is one of the copper coins. Place it in the groove of the tire upside down, with the head facing you. If some of the tread blocks the former president's head, you're safe for now, but if his entire head is visible, it's time for new tires. 

Additionally, make sure you take periodic readings of your tire pressure. Under- or overinflated wheels negatively impact fuel efficiency and driving performance. Because this can be easily avoided with a little effort and maintenance, there's no excuse to put yourself or your wallet at risk. Don't forget to check the spare tire while you're at it. 

Get your car checked
Paying attention to how your tires are performing is important, but it's only going to take you so far. When you notice baldness or other issues, reach out to NJ State Auto Auction's Total Car Care Center for help. The professionals at this garage cater to the public and are capable of addressing any problems you may have. Having new tires put on is just the first step, as you may also need to have wheels aligned or the tires rotated, but the experts at NJ Auto have got you covered.  

What To Know About Recent Loan Delinquencies

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Posted in Auto Loans & Financing News

Findings used cars can be difficult. You have many factors to consider – not the least of which includes a budget – and it can be a slog trying to balance everything out. One of the toughest aspects to figure out is how you're going to manage loans, particularly if you're what is known as a subprime buyer. 

More auto loans in the U.S. 
Experian Automotive recently released its latest report, State of the Automotive Finance Market, and its findings are likely interesting for subprime buyers. The study noted that 30- and 60-day auto loan delinquencies increased by 3.7 percent and 8.6 percent, respectively, in the third quarter of 2014. In total, the balance for all auto loans jumped to $870 million – up from $784 million last year, according to the report. 

There is good news for buyers in the Mid-Atlantic region, however. Most loan delinquencies were concentrated in the southern part of the country. Mississippi, Washington, D.C. and Louisiana were the top three, in some order, for both the 30- and 60-day categories. 

Nothing to worry about it 
Although there has been an increase in the delinquency rate, Experian Automotive officials maintained that the trend is normal and expected. Much of this is due to the sheer number of loans being awarded to buyers. 

"While we have observed a rise in delinquencies over the past few quarters, it was to be expected due to the growth in subprime loans. We have to keep in mind that a majority of the market is still in the prime risk category," said Melinda Zabritski, Experian's senior director of automotive credit. "As long as consumers continue to do a good job of making their auto-loan payments on time and lenders keep a close eye on how rates fluctuate year over year, the industry should remain relatively stable."

Making smart decisions
Ultimately, drivers can guard against delinquency by making savvy choices regarding their loans. Listen to experts and let them advise you as to the best course of action. Still, you'll have to choose a plan that you're comfortable with, so staying within your comfort zone is important. 

If you need help determining how to afford a car, let the team at New Jersey State Auto Auction come to your rescue. Not only does the lot have hundreds of Carfax-certified used cars, trucks and vans, but it also has a financing team. This in-house crew assists you in getting approved for a loan and figuring out how to manage monthly payments. 

Low Gas Prices Pay Off For Drivers

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Posted in Auto Loans & Financing News

Pouring all of your money into your gas tank can be disheartening to say the least. After all, there's nothing like paying to sit in traffic, whether you're on your way to work or simply trying to run errands in your free time. Drivers who are fed up with paying a lot for gas can find some relief at the pump – and put their funds toward things that really matter. 

Gas prices keep falling
The good news just keeps rolling in for drivers: Gas prices continues to fall steadily across the country. A recent report from AAA stated that the national average for gas has now remained below $3 per gallon for more than 16 days, falling to $2.89 per gallon by Nov. 17. Additionally, more than 75 percent of gas stations across the U.S. reported prices lower than $3. 

So with fuel expenses dropping, what should you do with all of that extra cash? Some people will justifiably be using that money to pay back auto loans and other debts, while some may be saving up so they can buy a used car. Others, however, will be using those funds for their holiday spending, according to a recent study from the National Association of Convenience Stores. 

Money in your pocket
The report noted that for every penny the average gas price drops, Americans save about $3.7 million per day on gas. Many of these drivers believe fuel expenses will keep falling, at least in the immediate future, so they have confidence to go out and spend their extra cash. Because of the proximity of the holidays, many of the funds will be put toward shopping and festivities. 

"Our surveys over the past two years show that gas prices clearly play a major role in consumer sentiment about the economy," said Jeff Lenard, the NACS vice president of strategic initiatives. "However, declining gas prices alone may not take consumer sentiment much higher in the short term. It may take similarly positive news about the economy as a whole before the majority of Americans feel positive about the economy." 

A few savvy drivers may want to use that bit of extra cash to get a head start on winter maintenance. That's certainly doable with some help from the Total Car Care Center at New Jersey State Auto Auction. The garage caters to the public and can address any issues cars may have.