Quick Cash Auto Blog

The automobile industry is in the midst of a tough recovery, just like much of the economy in the United States. This recovery has helped interest rates on vehicle loans drop considerably. In fact, many auto loan rates have not been this low in nearly three decades. Frugality, fear, and the overall recession recovery are all key components to these record setting interest rates and the trend may be around for quite some time.

According to a recent article published in the Chicago Sun-Times, the current average interest rate on a four year auto loan is 6.21 percent. It has been more than twenty years since the average auto rate has been this low, which means it may be a great time to buy for consumers. Conservative shoppers and fear regarding the recession that has weakened the nation are causing lenders to drop interest rates in order to drive sales; this lender competition is a catalyst for the dropping auto rates.

Big lenders are able to compete with one another to gain the business of consumers and this corporate battle benefits car buyers as a whole because the lenders undercut the competition’s loan rates. Some national banks are offering interest rates below three percent to entice buyers to borrow from them and the bait seems to be working.

Those with good credit and moderate to high income are the consumers benefiting the most from the low interest rates. A solid credit score matched with a good income brings the lowest interest rates from banks and lenders because these consumers pose much less of a risk than consumers with a questionable credit rating. Consumers in this category should really take advantage of the low interest rates because it will save a great deal of money and since the auto industry is still recovering the consumer has plenty of negotiation power.

Other factors are leading to increasing business for the auto industry in addition to the low interest rates such as higher trade-in values, high inventory volume, and consumers’ need for better fuel efficiency in a vehicle driving their spending. Unemployment rates are dropping as well and many consumers are beginning to believe the media’s hype that America is truly digging out of the recession that has wreaked havoc on our nation for several years. For those who are in the market for your next vehicle, the lowest interest rates in twenty plus years may be a sign that it is the ideal time to buy.

When is the last time you looked at cars for sale? Even as recently as five years ago, the answer to that question for many people may have been “I can’t remember.” That is because the main option for car shoppers has always been to physically go to a dealership to check out automobiles for sale. However, the pervasiveness and exponential growth of the Internet and other technology has changed the way car shoppers go about their business. Potential consumers can browse through thousands of car choices with just a few clicks of their mouse and this is good news for auto producers and dealerships alike.

It is increasingly common for car buyers to do much of the deal online from browsing car models to even purchasing the car without ever stepping foot into a dealership. This new shopping trend means that auto producers and dealerships can save big money in many business categories. The biggest impact of online car shopping is the money that is saved at the physical dealerships in the form of building costs and inventory. In fact, many new dealerships that are sprouting up in the United States are actually much smaller than in past years because dealers need much less room for shoppers to come on site to view cars.

These smaller dealerships are still outfitted with the latest technology, service areas, and comfy customer lounges but have much smaller showrooms as well as inventory areas because the extra vehicles can be stored somewhere else. This extra inventory can be housed at inexpensive warehouses or other buildings that do not require costly decorations, advertising, and other necessities found at dealerships. It is perfectly acceptable to reduce the overall volume in the showroom in today’s internet capable world because shoppers often already know exactly what they want when they come in from previously viewing cars and options online.

The use of the Internet to sell automobiles is still a growing and evolving way to do business but it seems that the trend is here to stay. Car shoppers enjoy the convenience of Internet shopping as well as the low pressure buying scenario that the Internet presents. Overall, this cost reduction stemming from Internet shopping should eventually be evident in the form of lower car prices and fewer fees from dealerships.

A teenager’s first car is a momentous occasion in their life, something they will likely reminisce about even as an adult. This coming of age event is also meaningful for parents as well, it is a time when parents realize that their children are growing up and becoming independent. This freedom for teens can easily turn into a financial burden for parents with added costs for insurance as well as the money spent for an additional vehicle. Since the car market is a broad spectrum and the desires of teens can influence a parent’s decisions, it is best to narrow the possible vehicle choices down to just a few in order to better understand what is best for your teen’s freedom and your peace of mind.

There are three key elements in deciding on a car that is best for a teen driver which include the car’s safety, the overall affordability of the vehicle, and the appropriate style that you and your teen driver can agree on. One car that often fits the criteria of being appropriate for a teen is the Ford Fiesta. This little gas saver can get up to 38 mpg highway and the MSRP for a 2011 is around $13,500 so it definitely gets high marks on affordability. Small cars are really stylish and trendy right now so many teen drivers may find the Fiesta a fun car to drive. The compact car also received top marks on safety so it can bring parents peace of mind while their children are at the wheel.

Another great car for teens is the Mazda3. The sporty coupe has superb handling, a respectable safety rating, and retails for about $15,800. In addition to these great attributes the Mazda3 is very well liked by teens because of its cool sound system and overall sporty design. The Mazda3 has a good resale value and they also have a hatchback style rear cargo area that comes in handy for those teens that have active extracurricular schedules.

For those who have a teen driver that would enjoy a sport utility vehicle more than a car, the Kia Sportage is an outstanding selection. The completely redesigned Sportage is sporty, economical, and a top safety pick among its class. The Sportage comes in a 4 wheel drive package for those who live in climates where adverse weather commonly occurs and its MSRP of about $18,300 is respectable among sport utilities. The stylish SUV also gets an estimated 31 mpg during highway driving, which is very impressive.

There are many other automobiles that fit into the criteria of being stylish, affordable, and safe for those teen drivers on the road but the ones discussed are some great examples of the kinds of cars to search for. Other cars that can be good for teen drivers are the Ford Ranger, Nissan Versa, Kia Spectra, and Toyota Tacoma. The most important thing to remember when car shopping is do your homework with regard to price, consumer reviews, fuel efficiency, safety, and to a lesser degree style and optional features. If you adhere to these simple rules you can appease your teen driver while also protecting your wallet and peace of mind.

In today’s world, being “green” is more important than ever before because waste means that we are not conserving enough natural resources. Solar energy is a renewable resource that is relatively easy to harness as well as something that can be used without worry of pollution or other negative effects on the planet. It is becoming quite common to use solar panels to collect energy for homes and businesses but solar powered roads may soon be a reality as well.

An electrical engineer named Scott Brusaw has created a way to make solar powered roads and will begin testing the roads at his company Solar Roadways in Idaho. Brusaw, the CEO of Solar Roadways, believes that having solar powered roads will eventually replace asphalt roads in many areas within the United States. The U.S. Department of Transportation funded Brusaw’s idea because of the many positive effects that solar roads would have on the nation.

The solar powered roads that Brusaw has designed have the strength of steel and can easily withstand the weight of automobiles, although the cost of long term maintenance remains to be seen. One of the main uses of solar powered roads will be to keep frozen precipitation such as ice and snow off the roads. The solar paneled roads will collect the sun’s power and use it to melt away any precipitation as well as dry the roads for safer driving. While safety is the main concern for Brusaw, the solar roadways will also save money in the form of road maintenance during adverse weather as well as eliminate shoddy road conditions such as low shoulders and potholes.

Reducing the need for asphalt used in making roads is also an important impact that solar powered highways will have on the environment. Many people may not know it but petroleum is used in the producing of asphalt and since there are millions of asphalt roads across the nation and petroleum is a nonrenewable resource, it is readily apparent that reducing our need for asphalt is important.

While solar powered roads have the potential to positively impact our world with safer driving conditions and less use of fossil fuels, the overall cost is something to carefully consider. The cost of replacing asphalt roads for solar ones may be as much as $4.4 million per mile. While this number is staggering, experts believe that these energy efficient roads will pay for themselves over time. While it is hard to stomach the cost, the positive impact of solar roads should not be understated.