here have been several signs that the economy is recovering from its low three years ago. The unemployment level has dropped to 8.6 percent and fewer people are claiming unemployment benefits. Additionally, lenders are more likely to provide auto loans to people with poor credit histories looking to finance their cars. Edmunds.com reports that consumers are more likely to plan their car purchases than before, and interest rates have fallen across the board.

Though things are looking up for buyers with poor credit histories, auto finance experts urge them to consider buying used cars for the time being. The reason being that despite higher interest rates, lenders are more apt to approve applicants even if they have a lower credit score. In fact, the average credit score for a used-car buyer is nearly 100 points lower than for someone purchasing a new car. Not to mention the price of the car will be lower as well.

This is certainly the case at New Jersey State Auto Auction, where prospective buyers are given automatic approval regardless of whether or not they have good, bad or no credit at all. This is made possible because the dealer has partnered with the Credit Acceptance Corp. (Corporation) to aid in the process.

By being approved, consumers are given an opportunity by New Jersey Auto and Credit Acceptance to rebuild their credit history. There are few better ways to raise your score than by paying back an auto loan on time.

Regardless of the fact lenders are more apt to approve a loan, there are still things that consumers should consider before buying a car. According to Edmunds, you should be sure to set a budget and be prepared to make a larger down payment.  

When it comes to buying a used car there is often a great deal of emphasis placed on which model you should select. While it is certainly an important consideration, after all you will likely be behind the wheel for years to come, perhaps even more crucial is how you will finance the new vehicle. Though there are many options available to you and everyone enters in a different situation, experts say there are a few things that nearly all consumers should mull over before settling on a loan.

Among the first things to consider is the length of your loan, says Stock Market Digital. Though most are between three to five years, the length can make a big difference in terms of monthly payments. Although long-term loans may have lower incremental payments, it may result in more cost to you when all is said and done.

Along with addressing the length of the loan you will also want to think about the possibility of trading in your current car. If your vehicle is in good condition, you can probably get a good price for it and knock some of the number off your purchase. Some dealers, like New Jersey State Auto Auction, make doing so especially easy. The business is an Autotrader.com Trade In Marketplace Dealership and can provide you with an appraisal in a matter of seconds.

Perhaps most importantly, you should set a limit for the amount you can afford to pay. According to the website, you should consider everything from the projected cost of gas to auto maintenance to insurance.

In addition to making it easy to trade in your car, New Jersey State Auto Auction also gives consumers and easy option for auto financing by approving everyone, regardless of whether or not they have no credit history or bad credit history.  

In years past it may have been difficult for prospective drivers to get behind the wheel of a used car if they had a checkered credit history, but recent statistics prove that is no longer the case. According to data from Experian Automotive, lenders are growing increasingly likely to provide loans to credit-challenged customers. In fact, 21.87 percent of all loans were nonprime, subprime and deep subprime.

There are a number of reasons for the findings, but a lot of it has to do with the fact that consumers are doing a better job at repaying loans. This is especially evident in deep subprime loans (the highest risk category), experienced the highest jump with a 17.3 percent increase. Experian also found that the average credit score for car buyers dropped from 769 in the third quarter of 2010 to 763 in 2011.

"The automotive finance industry is continuing a steady climb to good solid footing," said Melinda Zabritski, director of automotive credit for Experian. "Consumers continue to do a better job of repaying loans, while at the same time, many of the most risky loans from 2007 and 2008 are now off the books. These factors combine to lower the total volume of dollars at risk and give lenders more confidence in loosening their overall lending standards."

For those who have a less-than-ideal credit score, paying back an auto loan on time can be one of the best ways to rebuilt it, and New Jersey State Auto Auction is the place to go. The dealer automatically approves everyone regardless of whether they have good, bad or no credit, which can make buying a used car especially easy. 

The unemployment rate may be holding steady at around 9 percent, but that has not stopped consumers from borrowing money to make purchases. Analysts found a $7.4 billion jump in consumer credit in September, a figure reached thanks in large part to a growing number of people are purchasing cars, Bloomberg reports.

Auto sales were particularly robust for American manufacturers. General Motors reported 1.7 percent higher sales in October compared to the same time last year and Ford saw a 6.2 percent jump. However, it was Chrysler that stood above the rest with a 27 percent increase.

"The evidence of September and October is that there is a strong foundation in the U.S.-based automobile industry," Ken Czubay, Ford’s U.S. sales chief, told the news source. "Consumers are just saying it's time to get a new vehicle. We’re seeing that more and more every day from our dealers."

The fact that more consumers are buying cars may be indicative of a change in attitude toward taking out a loan. Over the last several years, some people may have been hesitant due to the stagnant economy, but the recent behavior may be reason to be optimistic.

If you're considering being among those making an automobile purchase but are unsure if you can get a loan due to your credit history, New Jersey State Auto Auction is your best bet. Everyone who comes to the dealer is guaranteed credit approval regardless of whether or not they have bad credit history or none at all.

Additionally, buying a car can be a great way for people with poor credit history to improve upon it. By getting a loan and paying it on time, you can go a long way to building your credit back up. Furthermore, New Jersey Auto has plenty of reliable makes and models to choose from so you can be confident in your choice.  

Most prospective car buyers go through great lengths to research the car they are considering buying and while that is certainly recommended, fewer consumers put as much effort into getting their finances in order before making a purchase. According to The Christian Science Monitor there are a few money-related steps that everyone should take before buying car.

First and perhaps most importantly, you should be sure to check your credit score. Most experts say that a score of 720 or higher is ideal and being aware of your credit standing, regardless of where you are, will prepare you for the conditions of your loan. Furthermore, drivers who have a lower credit score than what they are hoping for can head to New Jersey State Auto Auction, which automatically approves everyone whether they have poor or no credit thanks to its partnership with the Credit Acceptance Corporation.

In a similar vein, you should determine your spending limit. The Christian Science Monitor reports that a good rule to follow is to not let your monthly car costs – including loan payments, gas expenses and insurance – be more than 20 percent of your disposable income.

It may seem like common sense but sometimes consumers forget to check for ways they can save money on the overall costs of their car, whether through discounts or dealer incentives. Additionally, trading in your car has proven to be an effective option, and New Jersey Auto provides you with a great opportunity to do so. In fact, the company is an authorized Autotrader.com Trade In Marketplace Dealership, and you can get a quick, free appraisal of your car.

Consumers who have a credit score that is not as good as they want need not worry – there are still plenty of auto loans to be had. Recent statistics from Experian's Automotive Credit Trends Report showed that new car loans for people with subprime scores increased by about 22.4 percent, Fox News reports.

If you have a deep subprime score the news is even better with a 44.1 percent improvement. The statistics are indicative of a larger trend, the news source reports, with the average credit score of a used car loan recipient dropping by about eight points.

The shifting trend is not surprising however given the amount of people with subprime and deep subprime credit scores. Surveys have shown that about half of consumers have scores that qualify as below prime.

At New Jersey State Auto Auction, your credit history is not an issue and we offer guarantied credit approval regardless of whether you have good, bad or no credit. Additionally, we have all the big banks, credit unions and sub-prime auto lenders to suit your needs.

While New Jersey Auto Auction provides consumers with automatic approval that does not mean that you should not ignore the benefits of good credit. Luckily, getting behind the wheel of a used car and regularly paying off the loans is a great way to boost your credit score if it's below where you want it. Additionally, if you have no credit history to speak of, an auto loan is a great way to start one.

According to Fox News, the average amount financed on a used car is about $17,000 over a five-year term. This could result in a wide spectrum of monthly payments, but analysts say they range from an average of $429 to $359, depending on the interest rates.

It isn't hard to get your credit report and federal laws give you the right to get one from each of the major credit reporting companies each year. However, if you are unsure of what exactly you're looking for, it can all be for naught. There are a few important things to look at that can give you a general idea of just how good your credit actually is.

According to consumer financial services company Bankrate, late payments can have one of the biggest impacts on your credit score. You should check to see how many late payments you have made and how long ago they were. For instance, if you were 30 days late but it happened a long time ago, it will affect you much less.

You should also take a second to look at your debt-to-credit ratio. This is often calculated by the total of all your debts on revolving accounts to your credit lines on those accounts. Experts suggest keeping the level around 10 percent for best results.

"In an ideal world, you would want to have (those ratios) under 10 percent," financial expert Evan Hendricks told Bankrate. "But certainly you want to keep them under 40 percent. There's no magic number."

Your credit score can affect a number of things including whether or not you can buy a used car, but at New Jersey State Auto Auction, your credit history will not hurt you. Buyers are guaranteed approval regardless of their credit score, and after all, making your car payments on time is a great way to boost your score. Additionally, New Jersey Auto makes it easy to get financing thanks to its online application process.

Having to pay off a lot of credit card debt may seem impossible, but doing so will open up a lot of avenues to making other purchases including new and used cars. While it is certainly tough, there are a number of ways you can chip away at that mountain of debt before heading to New Jersey Auto Auction.

Among the most effective options available is the so-called "snowball" method, according to financial services company Bankrate. This means that you tackle the debt from smallest to largest in the hopes that paying off each one will inspire you to keep going. The only exception is if you're paying off money owed to the IRS, but usually you should pay off smallest debt first, regardless of interest rates.

You should also resist the urge to move debt around, the company says. Although it may give you a temporary reprieve from paying up, the fix is just that – temporary.

"The danger of moving credit card balances is that it's easy to start thinking you've actually done something to address the problem," industry insider Dave Ramsey told Bankrate.

You will also want to grow an emergency fund, experts say. Surprisingly, around one-third of Americans do not have non-retirement savings, so it can be difficult for them to pay debt or handle other emergencies. Some financial analysts recommend keeping at least one-month's salary tucked away just in case.

Although having debt can have a negative impact on your credit score, at New Jersey Auto Auction, that is not a problem. Regardless of whether you have good, bad or even no credit, you can be approved for auto financing, and there are few better ways to build your credit history than paying car loans on time.

Nothing can derail the purchase of a car more than poor credit. Just when it seems like you're ready to get behind the wheel of your new ride, a few things from your past can come back to haunt you. Although New Jersey Auto Auction offers you guaranteed credit approval, you will still want to ensure that your credit is good, and according to Kiplinger.com there are several things you can do to avoid common pitfalls.

Ignoring parking tickets or other similar fines will certainly wreak havoc with your credit. Anything that gets transferred to a collection agency will reflect negatively on you and even if you do eventually pay up, the fact that it had to get that far will follow you for around seven years, the website reports.

You will also want to avoid opening up a number of cards in a short period of time. Experts say that while having several cards for years will not be a problem, if you take on new ones very quickly it will reflect poorly on your credit score. Additionally, you likely will not see any of the added benefits of having more credit cards anyway.

Consumers should resist the temptation to make large charges to store cards. It may seem like a good idea to put big purchases, be they furniture or electronics, on store-specific credit cards. Even though it is attractive to have a long time to pay off the balance, having it sitting there for that long may be detrimental to making purchases in the future.

Luckily, New Jersey Auto Auction has options available to those who may have made a few credit missteps in the past. In fact, buying a car and paying off your loans on time is a great way to built credit history for future purchases.