People of all ages may need a little support when it comes to buying used cars. After all, it's a big investment, and it often requires assistance in the form of loans and special financing options. Millennials are just one group using these methods to get behind the wheel. 

Young people are buying cars
One common myth is that young people, referred to as millennials, are not interested in making big purchases. While it's true that these consumers may have different shopping habits than their predecessors, they are still looking to get behind the wheel. In fact, a recent study from TransUnion found that people born after 1981 are among the fastest-growing groups of drivers. 

While this age group may be buying cars, they still need some help. Many are using auto loans to swing a purchase. TransUnion noted that the total outstanding auto loan balance for millennials grew 23 percent in the past year. Individual loan balances also increased 4 percent, reaching an average of $18,678. 

"The growth in millennials' auto-loan originations dispels the common myth that millennials are not buying cars," said Jason Laky, senior vice president and automotive business leader for TransUnion, in a company statement. "The growing average-loan balances for millennials, combined with stable delinquency rates, indicate that we are still in the midst of a strong auto-lending environment."

Appealing to millennials 
What are millennials looking for in used cars? For starters, they want a wide selection. These young people are often on the hunt for something that fits their specific needs, so being able to browse through many options for the right automobile is a priority. They also want to work with people who are going to be honest. Most millennials value transparency, and they will take their business to a facility that's going to provide them with the best deals and less red tape. 

Luckily, many of these drivers can find just what they're looking for at New Jersey State Auto Auction. In addition to the hundreds of Carfax-certified used cars the lot boasts, it also has an easy-to-understand auction process and plenty of financing resources. Drivers of any age can appreciate these features and take advantage of them on their way to a purchase. 

Used cars can be an incredibly smart investment, but drivers need to be able to find a deal they're comfortable with. After all, not all buyers can afford to throw down a wad of cash and drive off the lot without any future payments – in fact, very few people can do this. That's why securing a manageable loan is so important. 

Most drivers need financing options
Experian Automotive recently conducted a study exploring how many people needed a bit of financial help affording their next purchase. According to the report, more than half of used cars purchased in the fourth quarter of 2014 – about 55.2 percent – were bought with the help of financing. Not only is that a record high, but the average loan amount increased as well. Experian noted that this figure grew $437 to $18,411. 

Additionally, the report stated that loan terms for used vehicles also increased, reaching an average of 62 months. That's in spite of the fact that the average credit score for buyers climbed about two points to 648. All of this information gives prospective buyers a lot to think about, as they'll have to find a plan that balances loan length, interest rates and total monthly payments. 

"As more consumers lean on financing, it's important for them to consider all of the factors involved, including monthly payments, interest rates and loan terms," said Melinda Zabritski, Experian's senior director of automotive finance. "These insights will enable them to have a better understanding of their potential payment obligation and take the appropriate action in order to make the vehicle fit within their monthly budget and more easily meet payment terms throughout the life of the loan."

How to find the right deal
It may take time for you to select the financing option that's right for you. However, you can speed up the process with the help of NJ State Auto Auction. This lot boasts hundreds of Carfax-certified used cars for sale, but the real value may be in its on-site financing department. This team can help you get credit approval quickly, and you can even start the process online to save time. Many of these experts have experience dealing with extreme situations and tight budgets, so you'll be in capable hands – and may find yourself behind the wheel of a used car sooner rather than later. 

There are many reasons why your credit score may be less than stellar. For many people, the hit to their credit history may be the result of a divorce. With legal fees to pay and a new home to outfit, you've likely been spending a lot of money, and you may even be trying to balance these expenses with past debts. All of this activity can wreak havoc on your credit, putting you in a tough position when shopping for used cars. 

Luckily, you aren't out of options when it comes to securing auto financing and getting behind the wheel. Focus on these areas when you're trying to get your finances aligned after a divorce. 

Explain the circumstances
One of the most basic things you can do is explain to the seller or lender why you're in a certain situation. Edmunds.com recommended studying your credit history to see if there are any dips or problematic areas you can account for in a discussion. The source also stated that credit scores aren't the only factor considered when finalizing the terms of a loan, so be sure to provide an explanation of your current situation. 

"If you understand the details of your credit history before speaking with a lender, you'll be able to make a stronger case for your qualifications as a borrower," said Emma Johnson, a personal finance expert. "Worst case scenario, if you are forced to accept a loan with a high interest rate, you can always refinance or buy another vehicle under better terms in a few years when you are back on your feet and your credit has improved."

Cover your financial bases 
When you're heading in to meet with the financing department at NJ State Auto, you should have certain monetary concerns covered. For example, make sure you carry proof of your income from after the divorce. You may have to explain your new financial situation, and having evidence makes your job much easier. It could be beneficial to budget for a larger down payment as well, as this could make you a more attractive candidate. 

You should also take a look back at your debts to determine if there are any steps you can take to separate yourself from the loans. Identify any debts that are the responsibility of your ex-partner, and consider working with him or her to remove your name from these sums. Similarly, you need to take your name off the title and insurance of your old vehicle, which will get you ready to make a purchase. 

It's no secret that some people need help affording a used car. Few drivers have enough cash to cover the full cost of a vehicle, so most turn to financing options such as auto loans to help them get behind the wheel. You don't have to have a sparkling credit history to get these loans, either, as more subprime borrowers are getting opportunities to do so. 

Auto loan balances continue to grow
Experian Automotive recently released its latest report, the State of the Automotive Finance Market, which detailed the loan landscape in the fourth quarter of 2014. According to the data, the total outstanding balance on all loans reached $886 billion at the end of last year. That's the highest mark ever recorded. 

Some of that growth can be attributed to an increase in subprime loans. The volume of both subprime and deep-subprime loans grew, despite the fact that the total market share for the two segments declined from the same time last year, the report found. 

"Whenever there is an uptick in the number of loans to sub-prime and deep sub-prime customers, there is the potential for a 'sky is falling' type of reaction," said Melinda Zabritski, Experian's director of automotive finance. "The reality is we are looking at a remarkably stable automotive-loan market, in part because consumers are continuing to stay on top of their payments." 

Managing loans 
Although subprime borrowers are still taking out their fair share of auto loans, the delinquency rate hasn't grown – a good sign that these drivers are paying back their debts. According to Experian, 30-day delinquencies grew only slightly to 2.62 percent from 2.61 percent, while 60-day delinquencies fell from 0.73 percent to 0.72 percent.

This stability may encourage lenders to keep offering deals to subprime buyers. It also shows that the loans are good for borrowers as well, with these individuals able to make monthly payments and stick to a repayment plan. 

Even if you don't have the best credit history, you can find opportunities to buy used cars with the help of auto financing. The financing department at NJ State Auto is ready and able to assist you in taking advantage of these deals. Its experts can get you same-day credit approval no matter what your background is, allowing you to show up, select a vehicle and drive off the lot in a timely manner. 

Everyone needs to start building credit at some point. The trick is to find the right time and attack the problem with the most effective strategy – and that can be tough. You don’t want to wait too long to start a credit history, but you also shouldn’t take the leap before you’re ready to make regular payments. Here are a few tips that can get your credit building started on the right foot. 

1. Stick to just one credit card
You should refrain from opening up too many credit accounts in the beginning. Start with one card and make a concentrated effort to have a sparkling record. Once you hit a year of success, you can think about adding a second card – preferably one with a better interest rate, now that your score has likely improved. 

2. Don’t reach your credit limit 
It may be tempting to put a ton of purchases on a new credit card. You might even come close to hitting the maximum limit. However, this will only hurt your score. Try to start by making smaller, more manageable purchases with the card and paying them off in full as soon as possible. As your credit limit goes up, you’ll be in a better position to close on bigger buys. 

3. Monitor your score
You have the right to check your credit score twice per year without cost. One of the major credit bureaus can provide you with the full report so you can scope out mistakes and track your progress. This also ensures you’ll spot any errors before they become a problem. 

4. Be patient when possible 
Major changes aren’t going to happen overnight. You must be dedicated to the cause and really make an effort to make smart financial decisions – otherwise, you may be doing more harm than good. Hold off on major purchases until your credit score puts you in a good position. 

If you have to buy something big, such as a used car, make sure you head to a facility that will help you out. New Jersey State Auto Auction may be just the place. The financing department can assist you in securing guaranteed credit approval and finding an auto loan that won’t put a damper on your wallet. 

Credit scores and reports are an important part of securing auto loans. Lenders need to be aware of your history so they can come up with terms regarding interest rates, loan length and other details. This is all fairly straightforward, but things can get complicated when mistakes are made in the process.

Mistakes on a credit report may have severe implications on your future finances, so you need to make sure all data is correct before signing off on a loan. Here are three steps to follow to ensure your report is accurate – even if it means contesting and fixing some errors. 

1. Get your report 
The first thing you have to do is get a copy of your credit report. Then you can look over your score and the factors that may be negatively impacting it. Any errors should be circled and clearly marked. Be sure to create your own copies for records as well. It's also important to get copies of your report from a few different credit bureaus, especially if you notice a mistake. The organizations may have different scores or errors that need to be remedied. 

2. Gather evidence
Once you identify a problem, it's up to you to collect proof of the error. You'll need to put together a dispute letter that follows the proper guidelines and support your claims with evidence. Again, be sure you're making copies of everything so you have backup in case something goes wrong. You should also send everything to the organization with certified mail, as a receipt can be sent to you upon the package's arrival. 

3. Be patient 
Then you wait. Credit report disputes usually take about 30 days to be settled, but if you haven't heard back within six to eight weeks, contact the organization again. Should the bureau recognize the mistake, it will fix the report, send you an updated history and let other providers know about the error. 

When you need a car to get to work and complete other responsibilities, all of this necessary waiting can be tough. Luckily, the entire process doesn't have to be dragged out across weeks. At NJ State Auto Auction, the financing department offers guaranteed credit approval and same-day purchasing options, allowing drivers to get behind the wheel quickly. 

In today's world, even used cars are expensive. While you may be grateful for the high quality and longevity of these vehicles, the corresponding price tag is not as welcome. In fact, the expensive nature of used cars is forcing many people to turn to financing options such as auto loans. This is nothing new, but it's still important for would-be motorists to brush up on their knowledge and know the basics of financing. 

The importance of car loans
According to NPR, the number of people using car loans to get behind the wheel is reaching an all-time high. It's expected to remain relatively steady throughout 2015. That should be good news for many prospective buyers, as the average cost of used cars has been increasing, which makes auto loans necessary. 

"The ability to provide auto financing – be it prime or nonprime – is very important for our economy and for the health of our citizens in keeping people employed and money coming in," Jack Tracey, of the National Automotive Finance Agency, told NPR. "Not everybody can get on a bus and go to a job. Most people in the country need to have transportation."

Popularity is surging
Many lenders are prepared to continue growing auto loans in 2015. Automotive News reported that, while organizations are being cautious, they are still ready to provide loans for prime and subprime borrowers. The key will be to remain disciplined and provide options that benefit everyone. For example, many people agree to longer-term loans because it lowers monthly payments. These can be advantageous for lenders as well, as they can offer different interest rates and appeal to a wider range of people. 

Finding the right option
Although subprime auto loans are popular, it can still be tough for drivers to find a financing option that works for them. This is especially true for anyone who may be in a difficult financial situation or those who aren't familiar with car loans. The financing department at NJ State Auto can be a huge advantage if this is the case. A team of experts is available to help drivers secure credit approval and sort through all of the potential loan options. As a bonus, this entire process can be done quickly, allowing you to get behind the wheel in a timely manner. 

Anyone who has ever borrowed money has likely been concerned about paying it back. It doesn't matter if it's $5 from a friend or thousands from a huge company – the odds are you have some sort of plan to make up the amount. Unfortunately for borrowers, some lenders are more forgiving about repayments than others, and those large organizations are usually the most ruthless of all. But people who take out car loans may soon have some wiggle room when it comes to working off these debts. 

Protecting borrowers at every turn 
Currently, some cars have what's known as a "kill switch." These devices have the ability to shut down a vehicle remotely, which often gives lenders the power to locate the car and even disable it if payments are missed. There's even a chance the switch is added to a loan agreement. However, usage could soon change in New Jersey. Local officials from the Assembly Consumer Affairs Committee recently pushed out a bill that would ban the use of kill switches, according to NJ.com. 

"No one should have their car disabled because they missed a payment by a day or two," said the bill sponsor, Assemblyman Paul Moriarty (D – Washington Township) in a statement. "These devices are akin to having a predatory debt collector riding in the car with the borrower, ready to strike at the slightest mistake. It's incredibly unsafe and unnecessary. We need this bill to protect the safety and privacy of consumers."

Not only do the politicians believe these devices are unethical, but they also argue that they're incredibly unsafe. Cars could be shut down in the middle of traffic or leave drivers stranded in an unfamiliar location, according to the source. Eliminating their use will keep all motorists safe while also removing a layer of stress facing many borrowers. 

Prevent problems with the right loan
Borrowers can increase the likelihood of on-time payments by signing off on a loan that makes sense for them. That's exactly what they'll find at NJ State Auto Auction. The lot has an on-site financing department that can work with buyers to find the right agreement for all parties involved. They also offer guaranteed credit approval and have many options for people who may not have the best credit history. 

It's no surprise that some people need help affording a used car. In today's world, these high-quality options can be costly – unless drivers know where to look. Searching through auto auctions and taking advantage of opportunities to submit low bids can be a huge boon to motorists, particularly those who are facing a tight budget. But those aren't the only options. Auto financing provides all kinds of drivers with ways to afford a purchase, and as long as motorists know some of the basics regarding loans, they can put themselves in a position to get behind the wheel quickly and economically. 

Subprime loans are still growing
CNN Money reported that subprime auto loans are increasing in popularity. Currently, these subprime deals make up 30 percent of all car loans, with billions of dollars owed by borrowers. The news source noted that only 0.71 percent of these loans are in default, which is slightly higher than earlier in 2014, but that's not a sign of concern for experts. That fact may scare some, but the market is still in a good place, which is great news for future buyers. They should continue to have opportunities to secure loans and purchase a quality used car. 

Drivers must make smart decisions
Although subprime loans are experiencing a surge in popularity, it's important for drivers to understand all of the ins and outs before signing a deal. They should have a clear idea of how much they're going to be expected to pay back each month, as well as how that figure fits into a budget including gas expenses, repair costs and more. You also must take a long look at interest rates. Subprime borrowers often face higher rates and longer loan terms, which ultimately results in a bigger bottom line. Try to negotiate your way to lower numbers and a more budget-friendly final cost. 

Find help with financial matters
With big decisions looming and piles of paperwork to complete, there's a lot to consider when shopping for a used car. That's why many people reach out for help from financing experts like those at NJ State Auto Auction. This team of professionals offers guaranteed credit approval and is able to assist you in securing a loan you can manage. All you need to bring is a few forms of identification and proof of your address, and then this team can help you do the rest. 

Now that 2015 is upon us, people all over the country are doing their best to stick to their New Year's resolutions. Among the most popular goals is getting finances in order, which often includes getting out from under credit card debt or improving credit history. Although this is an uphill battle, it's certainly not impossible, and smart borrowers can take a lot of little steps that will pay off in the long run. 

If you've decided to spend the next 12 months focusing on your credit and spending, you don't have to make any dramatic changes to your lifestyle. Here are a few small ways you can achieve your financial resolutions this year. 

Change your spending habits
It all starts by creating a budget and sticking to it. Make sure you're setting aside a certain amount of money for savings each month while still paying off loans and current bills. Don't underestimate your typical spending when putting the budget plan together. Instead, overestimate and then put any leftover funds toward a savings account. 

Focus on high interest rates
When you're paying off loans, you've got to spread the love. However, you should be focusing on debts with high interest rates. Prolonging this repayment will only cost you more in the long run. Additionally, if you know a certain credit card is charging you obscenely high rates, consider shopping around for another option or drastically limiting spending on that card to reduce the amount you're paying in interest. 

Consider refinancing if necessary
The New York Post reported that people should have a plan for paying debts as soon as possible. That may include refinancing or even consolidating loans. Although that may seem like an extreme measure, it could be a smart choice for anyone who is feeling overwhelmed by debt. With the help of a professional or smart advisor, getting out of debt may be more manageable. 

Plan for future purchases
Do you have a feeling you're going to need a car in the near future? Bad credit doesn't have to inhibit you from buying a used car soon. At New Jersey State Auto Auction, drivers are guaranteed credit approval and can take advantage of guidance from a fully staffed team of experts in the financing department. The entire auto auction process allows you to limit your spending and find great deals on used cars.