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Do I Need To Know My Credit Score?

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Posted in Auto Loans & Financing News

Say you’re growing tired of your old car and want to invest in a better-quality used model. What do you do? While you may be tempted to jump right into the buying process, you need to start by determining just how much you can afford to spend on a used car. This all starts with knowing your credit score, as the number plays a major role in your budget.

Why know your credit score 
So should you know your credit score? The answer is a resounding “duh.” Credit scores play an important role in all aspects of your finances, especially if you’re considering investing in a used car. It affects car loans, monthly payments and much more, and you need to know the number before jumping into a big purchase.

How to find out 
Once you’ve made the easy decision to know your credit score, you’ve got to step up to the plate to figure it out. Plenty of websites and resources are available to provide free credit reports, and these can give you insight into your spending habits and personal finances.

In the near future, however, getting your credit score could be as easy as contacting your bank. Banks provide the most accurate reports, and as such they can give you the information you need to know, including ways to improve your score and other important data.

“Credit reports and scores can determine the terms of people’s mortgages, whether they qualify for auto loans or if they are eligible for different credit cards,” Richard Cordray, the head of the Consumer Financial Protection Bureau, told NBC News. “Making consumers’ credit scores freely available on their monthly statement or online makes it easier for them to spot problems with their credit report.”

When you see it – and wish you didn’t 
Say you get a glimpse of your credit score and – yikes – it’s not a pretty sight. First of all, don’t panic: It is not the end of the world. You can spend some time figuring out what to do to improve your finances, but that doesn’t mean you have to put off buying a used car. There are facilities in the New York/New Jersey area that can provide you with auto loans and financing options.

Even if your credit score is less than stellar, you can still find ways to afford a used car. At New Jersey State Auto Auction, the financing department is on hand to help approve you for an auto loan, even if your credit score leaves something to be desired. Check out what the facility has to offer and you may drive away with a high-quality used car.

Drivers Keeping Vehicles For More Than 100,000 Miles

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Posted in General Auto News

When you take a look at the other cars on the road with you, it may seem like you're seeing many older models. Your eyes aren't deceiving you – more and more drivers are sticking with their cars for an extended period of time. 

According to AutoMD.com's 2014 Vehicle Mileage Survey, about 35 percent of drivers plan to keep their vehicles until they are no longer fit to serve on the road. Additionally, more than half of motorists say they will drive their cars for more than 100,000 miles, and they aren't afraid of investing in a car that already has several years under its belt.  

"We have been tracking the lengthening ownership cycle since 2010 and what was at first a reaction to a bad economy has now become a reality – with the majority holding onto cars up to and past the 100k mark," said Brian Hafer, the vice president of marketing for AutoMD.com. "The number of consumers saying that over 10 years is the appropriate time to own a car has not shifted, even as the economy has improved." 

With more people looking for ways to make the most of their investment in used or older vehicles, many drivers will be looking for quality cars that can meet the demands of the road. They also must ensure their cars are getting the preventative maintenance needed to continue running smoothly. 

Extending an automobile's long life span is possible, but drivers have to be committed to caring for their vehicles. To get a jump start on proper maintenance, consider scheduling an appointment at NJ State Auto Auction's Total Car Care Center. The garage caters to the public and is capable of addressing any issues you may have. 

3 Ways To Avoid The Repo Man

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Posted in Auto Loans & Financing News

There may come a time when you run into financial trouble. It happens to almost everybody, and when it does, one of the first things to fall by the wayside is a car payment. While it may not seem like a big deal at first, continuing to ignore the bills can lead to repossession of your car. No one wants to have to be on the run from the repo man forever, so here are three tips for avoiding him so you can get back on your feet: 

1. Hide the car 
Until you get the money lined up to pay your loans, you should take the car off your road. Repo men are not allowed to take a vehicle if they have to break locks, cut chains or damage your property in any way, so you can lock your car up in a garage or behind a chained gate, according to Nolo Law for All. 

2. Set up a repayment plan 
OK, you’ve bought yourself some time by hiding your car from the repo man. But you can’t keep it locked up forever – you need to come up with a plan that will get your finances and your car back on the right track. Figure out what you can do to come up with the money needed to pay back your debts. You can even let the repo man know what you intend to do – you never know, keeping communication open may be enough to get him to cut you some slack. 

3. File for bankruptcy 
If all else fails, and you feel like your finances and debts are totally out of control, you can file for bankruptcy. In this day and age, options like a debt repayment plan under chapter 13 bankruptcy are viable for many. This move grants an Automatic Stay, which means the repo man will stop coming after your car. You will have to formulate some kind of repayment plan, but it’s certainly an option if you need to have your car for your daily life. 

When the repo man gets the best of you and you have to invest in another car, you can feel like your options are severely limited. That is not the case, however, as New Jersey State Auto Auction has a financing department that helps people with bad credit get approved for auto loans. You’ll be able to choose from hundreds of Carfax-certified used cars, trucks and vans, all while staying within a budget. 

Toyota Is Tops For Used Car Brands

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Posted in Auto Brands News, Toyota

When you’re shopping for a used car, the brand of the available models, as well as its reputation, will likely be an important factor. While your opinion of certain automakers may be colored by past experiences, peer reviews or other outside factors, there are a few trends that shed some light on what the best options are for used car shoppers.

Recently, Consumer Reports released a list of the best used cars, and its unbiased ratings placed Toyota at the forefront. In the report judging used cars from 2004 to 2013, the Japanese brand managed to place 11 vehicles among the top options. In fact, Toyota even put at least one of its vehicles in each budget and almost every segment, proving that it could be the right choice for any type of driver.

Among the top inclusions were the 2004-2007 Toyota Prius, the 2005-2007 Toyota Matrix, the 2004 Toyota Highlander V6, and the 2006 and 2008 Toyota RAV4.

Consumer Reports also noted that the Toyota Camry was one of the best options for sedans, especially for drivers looking for cars for between $15,000 and $20,000. The 2011-2012 Camry, as well as the 2010-2011 Camry Hybrid, were named as stellar choices for this budget range.

Regardless of what kind of used car you’re looking for, you may be able to find the right fit at New Jersey State Auto Auction. The lot has hundreds of Carfax-certified cars, trucks and vans available for purchase, and many of the options come equipped with the impressive quality and safety features you’ll be searching for. The facility also has its own financing department, which can help you find a vehicle that fits your budget and won’t overload you with auto loans.

How To Start Spring With Green Car Practices

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Posted in How To

St. Patrick's Day may have passed, but that doesn't mean you have to abandon green habits – especially with regard to your car. In fact, embracing some green and eco-friendly practices can be beneficial for the environment as well as your vehicle, as many of the most common operations will improve the fuel efficiency and performance of a car. 

The Car Care Council offers several recommendations for drivers who want to make their cars green without spending too much money. At the top of the list is following scheduled maintenance. These preventative steps, which include actions such as regular tune ups, can go a long way toward ensuring your car is running smoothly and not wasting any fuel. Consider replacing air filters, changing the oil, checking the gas cap and examining tire pressure at regular intervals. 

"To be car care aware, you don't need to be lucky, just proactive," said Rich White, the executive director of the Car Care Council. "By following a few simple steps from the Car Care Council, you can drive smart save money and be green." 

The Council also recommends that drivers properly dispose of old tires, batteries and other resources used on a car. Replacing these features is a necessary part of maintaining a vehicle, and recycling whenever possible can help the environment. Another way to reinvigorate part of a car is to repower the engine to provide a vehicle with a burst of new life. 

Any time of year is the right time to start taking care of your car. With NJ State Auto's Total Car Care Center, you can take advantage of a garage that caters to the public. The experts on hand can address any issues you may have while also helping improve the overall function of your vehicle. 

Best Used Cars Under $10,000

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Posted in General Auto News

Drivers have many opportunities to invest in a used car, and to do so they don't have to break the bank. In fact, many of the top options come with price tags of less than $10,000. Cars.com recently compiled a list of the highest-quality vehicles for motorists who want to find solid choices for their used automobiles without busting a budget. To do this, Cars.com looked only at vehicles that passed crash tests and came with comprehensive safety features, and then sorted them based on drivability, reliability and practicality. 

"There are a lot of great used cars on the market, and with a significant price difference between new and used cars, we know that many shoppers choose to go the used route," said Joe Wiesenfelder, the executive editor of Cars.com. "We sifted through a lot of data, crunched a lot of numbers, and from a pool of more than 60 candidates, we chose the 10 best used cars that shoppers can find for around $10,000." 

The selection Cars.com decided on were all vehicles made from 2007 to 2009. Most were compact cars and sedans, including three creations from Ford: the 2009 Ford Focus, the 2008 Ford Fusion and the 2008 Ford Taurus. Those certainly are not the only options, as popular models such as the 2007 Honda Civic and 2007 Nissan Altima also made the cut. 

Motorists who want to get a bit more unique with their investment can choose alternative-fuel vehicles like the 2007 Toyota Prius. Then, Cars.com expanded its list to include everything from sporty options like the 2008 Kia Sportage, 2008 Scion xB and 2009 Hyundai Sonata to high-class models such as the 2008 Mazda6. 

If you're looking for a used car at the right price, check out the selection at New Jersey State Auto Auction. The lot is home to hundreds of Carfax-certified cars, trucks and vans, and one of these vehicles may be right for your next purchase. 

Used Vehicle Prices Go Up Slightly In March

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Posted in Auto Industry News

Drivers have a lot to consider when looking around for a used car for sale. In addition to finding a vehicle with the fuel efficiency and sticker price that fits into a budget, motorists also need to select a model with the features that are right for them. These models typically come at a price, and it is helpful for drivers to know what to expect from the market.

The National Automobile Dealers Association Used Car Guide recently released its March edition of its market overview. It found that, in general, the prices of used cars went up at the end of February thanks in large part to the nicer weather. As the temperature began heating up and drivers turned their attention to spring, they were more eager to open their wallets and consider future investments, which in turn drove up the average cost of cars.

“Used prices grew by 0.7 percent over the first half of the month, but more favorable weather over the second half of the month allowed prices to grow by 2.2 percent by month’s end, which is in line with NADA’s forecast of 2.1 percent,” said Jonathan Banks, an executive automotive analyst for the NADA Used Car Guide.

This slight uptick is in line with seasonal trends. If the near future remains close to predictions, the prices will come down, offering plenty of potential savings for buyers.

Despite the fact that used car prices are increasing slightly in March, prospective buyers can still find great deals. Facilities such as New Jersey State Auto Auction provide a place where drivers can browse through hundreds of Carfax-certified cars, trucks and vans. These vehicles can offer excellent amenities and performance while still keeping motorists within their budget.

How To Build Credit Before Buying A Car

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Posted in Auto Loans & Financing News

Purchasing a used car is a major investment, which is why so many drivers spend time and energy scouring over all of their options to find the best possible fit. Not only do they have to search for the right vehicle, but they also have to examine all possibilities regarding the loans and financing of the car. Unfortunately, some motorists have more work to do than others, and they must focus on building their credit before taking the keys to a ride. 

The first step toward maximizing your buying power is knowing your credit score. You should know where you stand so you can assess what type of loans and interest rates are available. If you find that your score isn't exactly where you want it to be, however, you can continue to work to improve your financial reputation. 

You should also start building up a savings that can be used as a down payment. If you can provide approximately 20 to 25 percent of the purchase price, you'll be in better shape to earn a top loan with attractive interest rates. 

There may be an instance where you feel like you need to prove yourself to get a better auto loan. In this case, consider purchasing a small item and financing it through a short-term, formal loan. This gives you an opportunity to build positive credit and shows potential lenders that you can be trusted. 

Once you've built up good credit, you can start shopping for the right used car. A great place to start is at NJ State Auto Auction, which has a wide variety of vehicles to consider as well as a financing department. The experts on hand are available to help you find auto loans that match your budget while also ensuring you're getting the best interest rates possible. 

How To Get Your Car Ready For Spring

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Posted in How To

It is finally starting to feel like spring, and it's not just your personal comfort level that will benefit from the changing seasons. There's a good chance your car will be relieved as well, as it has had to deal with icy roads, mounds of snow and freezing temperatures for months. 

While springtime brings better weather, with it comes a variety of obstacles that you must be prepared to handle. Having a high-quality car is the first step toward protecting yourself and your automobile, but there are a few other mistakes that you'll want to avoid as well. 

For example, drivers should prepare for the heavy rains of the spring by making sure the wiper blades are replaced on a regular basis. Ignoring this portion of vehicle maintenance can lead to poor visibility on the roads, which in turn could put you at risk for an accident. It is much easier to replace wiper blades and to check the cleaning fluid than it is to have extensive repairs done.

Despite the fact that warmer weather is on the horizon, you should still take advantage of a garage or car port whenever possible. This covering can be a major help during frequent rain storms, and it is also useful for the beginning of spring, when temperatures may drop below freezing at night. Heavy winds in the season may also lead to fallen branches, and keeping your car out of harm's way can be important. 

Preventative maintenance is an extremely crucial step to take when preparing a vehicle for the spring season. However, not every owner has the knowledge necessary to complete the tasks. That's where facilities like the Total Car Care Center at New Jersey State Auto Auction come in. This garage caters to the public and is capable of addressing any issues you may have, whether related to tune ups or more advanced repairs. 

Is A 6-Year Car Loan Right For You?

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Posted in Auto Loans & Financing News

People all over the U.S. need help to buy a used car. Whether it's input from experts regarding the most reliable models to invest in or financial assistance that helps you afford a vehicle, this support can prove invaluable during the car-shopping process. 

Recently, many drivers have been taking advantage of financial support in the form of long-term auto loans. USA Today reported that loans of longer than six years, which are typically made up of 73 to 84 monthly payments, have increased in popularity in the past year. The number of these plans in use was up 19 percent in the fourth quarter of 2013 compared to the same time in 2012, according to the news source. 

Data from J.D. Power shows that long-term loans of more than 72 months now make up about one-third of all financing plans, USA Today reported. With so many people choosing this option, it seems as if drivers are becoming more open to the longer loans. But how do you know if it is right for you? 

CBS News noted that motorists searching for a used car should survey their needs and desired budget before heading to a car lot. That way, they will be able to make concessions to strike the best balance between the two sides. If the longer term allows drivers to get the best bang for their buck, then it may be a good choice. 

Anyone who is considering purchasing a used car should use resources like those at New Jersey State Auto Auction. Not only will you be able to look through a wide selection of Carfax-certified cars, trucks and vans, but you can also take advantage of its financing department. The experts there are available to help you decide what type of auto loan and payment plan is right for you.