There's good news for people who need a little financial help to help them purchase a used car. The first few months of 2013 have seen some of the strongest credit health since the recession, giving more individuals access to automobiles than the same time last year.
In fact, one auto leasing website had more than 77 percent of its customers achieve credit approvals in April, which is up from 70 percent in March. The total approval rating for the first four months of 2013 sits at 73.6 percent – significantly higher than the 57.5 percent rating during the same time period in 2012 and the 68.3 percent approval in 2011. Although this is just one site's data, it does reflect an improvement in the overall market.
"The automotive industry has continued to grow in 2013, with new sales expected to be marginally higher than 2012 levels," said Scot Hall, executive vice president of a car leasing marketplace. "Above this, key economic factors such as continued job growth, low gas prices and a healing housing market have all helped personal credit levels, allowing more consumers with credit approvals."
Getting a credit approval is just the first step toward investing in a vehicle, but it's one of the most important processes to complete. Having your finances in order can get you closer to driving the car of your dreams – as long as you continue to shop smart.
If you're in the market for an affordable used car, you may want to check out the selection of CARFAX certified vehicles at NJ State Auto Auction. With cars, trucks and vans available on site, drivers will be able to choose the perfect automobile for their needs without breaking the bank.