Results of a new poll reveal some startling figures regarding how people feel about car loans. The study discovered that 64.3 percent of respondents believe that they will have a car payment during the rest of their life.

The research, conducted by LeaseTrader.com, polled 500 people in December and is indicative of a changing mentality among motorists. In a similar survey conducted five years ago, researchers found that only 48.6 percent felt that having a car payment was just part of life. However, things seems to have changed considerably since then.

"Because there are a lot of similarities between cars and cell phones today people also look at car payments with the same pay-as-you-go mentality," said Sergio Stiberman, CEO and founder of LeaseTrader.com. "More people today realize having a car payment is just something they will always have."

Aside from the obvious benefits of not having a monthly payment hanging over your head, paying  a car loan in a timely fashion has many other advantages. This is especially true for people who may have a bad credit history. Making loan payments on time is a great way to rebuild your record and put you on solid footing.

Though it might seem difficult to get approved for auto financing if you have bad credit, there's no need to worry thanks to New Jersey State Auto Auction. As the result of a partnership with the Credit Acceptance Corporation, New Jersey Auto is able to offer guaranteed credit approval to anyone who applies. Not only that, but approval usually occurs in just a matter of minutes so you can be driving off in a used car in no time.