As the economy continues its recovery, the number of consumers being approved for auto loans is on the rise. Between January and March of this year, there were $52.5 billion in auto loans originating from finance companies, which is 49 percent higher than at the lowest point in the recession, according to figures from Equifax.

The statistics were part of a larger report from Equifax that indicated the improvement in the realm of auto loans. Specifically, researchers found the auto delinquency rates in March were the lowest of any loan type and are currently at pre-recession levels, certainly good news for anyone considering the purchase of a new or used car.

Although the findings reveal some encouraging statistics, a separate report found that consumers may not be as on top of their finances as one might think. The survey, conducted by CouponCabin.com, found that nearly half of people in the United States do not know their credit score, something which could hinder the ability to get an auto loan. Having a good credit score is one of the best ways to ensure you'll be approved for financing.

"In fact, more than one-third of people we surveyed said they are concerned about how long it will take to pay off their cards,"  said Jackie Warrick, president and chief savings officer of the website. "Keep your swiping in check and always have a grasp on the number of cards you have and how you’re using them."

Although a low credit score may prevent some consumers from being approved for a loan, that's not the case for people who shop at New Jersey State Auto Auction. Thanks to a partnership with the Credit Acceptance Corporation, everyone is guaranteed approval regardless of their credit standing.