Is it a Good Time of the Year to Invest in a Car?

Automotive Experts' Take

The automotive experts are saying yes. The automotive market research giant Edmunds.com* has predicted the car sales would jump to 16.4 in 2014 from 11.4 in 2013. It is because a good number of lending institutions across the world have started to lower down their lending rates and also make the lending standards highly flexible. This would naturally bring more people to the showrooms willing to invest in a car of their choice.

Auto Lending Market

Of course the auto lending market will receive a big boost since a maximum number of the potential car buyers seem to have a troubled financial condition. They would look for a suitable lender to get the money they want to invest in a car. A low rate of interest on the lending amount means lower monthly payment burden. Besides, a person can apply for any amount of cash as a car loan. Many private lenders or dealerships are already providing auto loans against a low down payment and the number of dealers charging 'zero down payment' will significantly rise this year.

Higher Competition has Created a Rosy Picture

An outburst in the number of auto dealers operating in the world automotive marketplace has helped bring down the prices of different makers and models of cars. In addition, many dealers are giving discounts on an online purchase or on pre-approval of auto loans in order to keep intact the interest of the potential car buyers to their site.

Used Car Prices will Fall

The NADA or National Automobile Dealers Association economists are highly optimistic about the low price of used cars. They have said after repeat rise of price for five years in a row, this year, the price of pre-owned vehicles will drop to a considerable extent. Lowered used car price means an increased number of people looking to buy a car will hit the market. Individuals with a bad credit score will especially flock the showrooms in large numbers since purchasing a second-hand car in a good condition will be a cost-effective and practical decision for them.

Leasing will Decline

The Deutsche Bank said leasing of cars by the US residents will fall sharply which means more number of people will invest in a new car. According to the Deutsche forecast, Americans will spend around 13 billion dollars on brand-new vehicles.

Predictions: Cars that will Create a Wave in 2014!

• Bugatti will enter the luxury city car market with the revamped Honda Beats
• Jaguar will introduce a line of luxury vans
• Subaru will offer a new line of Outbacks range of cars
• Ford's new aluminum F-150 will be a huge hit 

Continental AG – A Profitable Future

Continental AG, Europe's second largest auto and truck parts manufacturer predicted, in 2014, the company sales will rise by 5 percent to 35 billion Euros. Continental AG is already in the process of making automobiles with environment-friendly features that would reduce harmful gas emission and increase safety of the driver and passengers.

Is 2014 the Best Year for Getting a Bad Credit Auto Financing?

2014 is going to be the best year so far for the automotive lending industry. The lending institutions are relaxing the lending standards to ensure people with a bad credit can easily get an auto loan.

 

If the worldwide automotive experts are to believe 2014 is going to be the best year for people with a bad credit score. The different auto lending institutions have started easing the lending standards to give a boost to the auto loan industry. People who henceforth faced a problem getting an auto loan with a bad credit can now apply for a pre-approved loan without any hassles or tension.

The auto dealers or lenders have understood the importance of easing the lending norms. After the recession of 2008, the numbers of people with a poor credit rating have increased not only in the US but in other parts of the world.  At the same time, there has been an outburst in the number of potential auto buyers with a limited finance. To cater to financial needs of the growing potential customers, the auto lenders have started providing bad credit auto financing at an attractive rate of interest.

The low interest auto loans can be availed by people with a bad or no credit score. Traditional lending institutions such as banks and credit unions never lend money to an individual with a poor credit report.  These institutions will right away cancel your auto loan pre-approval request. As a feasible alternative, the private auto lenders have come up with an instant pre-approval of car loans and low rate auto loans. Such a practice makes an auto buyer happy and proud to be able to drive his car right away!

Following are the key features of bad credit auto loans as offered by the lending institutions.

Competitive Rate of Interest

– The private lenders offer money at a low rate in order to attract a large number of customers. With an increased competition in the automotive market, every lender is thinking of new ways to lure potential auto buyers. One of the crucial ways to attract people is by providing them bad credit auto financing at a competitive rate.

Low Down Payment

– Many dealers/lenders provide the lending amount to people without asking for a down payment. This procedure helps people save money in the midst of a financial crisis.

Large Lending Amount

– There is no restriction on the lending amount you can ask from a dealership. Thus, the potential auto buyers can apply for any amount of money as a bad credit car loan. However, it is better to choose a car that doesn't cost much. It will then become easier for people to pay off the final lending amount at ease.

Low Monthly Payment –

Low rate of interest means less financial burden every month. People with a bad credit will not find any problem repaying the final amount (principle and the rate of interest) on time.

Top 10 Automotive Technology & Trends of 2014

New Cars, New Technology

If you are a car enthusiast like me, this post is worth a read. In the automotive industry, a lot of changes have happened and a lot more is yet to come. Every other day, new models are being launched in the marketplace. These vehicles come with new features and technology. Let's have a look at the top 10 automotive technology of 2014.

Top 10 Automotive Technologies, 2014

1. Pedestrian Detection

The leading Swedish auto manufacturer Volvo has introduced S60 Model vehicles that will automatically come to a halt when detecting a pedestrian on its way.

2. Night Vision

BMW and Mercedes come with the "Night Vision" feature that radiates infrared light to correctly detect a living object on the road that the ordinary headlights of your car cannot identify.

3. Automatic Brakes

The "Brake Hold" button will ensure the brakes are pressed automatically without any form of manual intervention. In other words, you don't have to keep your hand on the brakes. You will find this advanced feature in Acura RLX Sedan cars.

4. Smooth Cruising

This technology helps you keep a safe distance from the car that is in the front. This technology prevents the chances of an accident whatsoever by letting you stay focused on your driving rather than constantly keeping an eye on the cars in front of your vehicle and hitting the brakes and resetting your driving speed.

5. Parking Assistant

This technology will help to park your four-wheeler in the parking area similar to what a driver will do. Ultrasonic sensors are released beforehand to detect a parking zone that has sufficient area for your car to get parked without any trouble.

6. Receding Door Handles

Tesla Motors have introduced this kind of handles on their Model S cars. They claim the handles will prove useful in the winter season. The door handles will retract when the car is locked and is moving. Such a handle ensures smooth door operations, 24/7.

7. Internet Radio

Internet radio can be used to listen to your favorite station while driving or listening to the news when traveling to a foreign land. Many cars of 2014 will come with an Internet radio. You can use your Smartphone or 3G mobile as a modem to browse the Internet.

8. Anti-collision System

Your car will use a radar to sense a vehicle getting close to yours when driving on a busy road. The collision-mitigation system will give you a visual and auditory signal to avoid a collision.

9. Rear-view Cameras

By the end of this year, every light passenger vehicle needs to use rear-view cameras as per the proposal issued by the National Highway Traffic Safety Administration.

10. Wi-Fi

In spite of much debate, the use of Wi-Fi in cars is going to rise tremendously in 2014. Thanks to Volvo's new concept of "Sensus Connect" which will allow a driver to do a host of things including paying the parking fees, using the navigation system, and accessing several other cloud-based apps and services while still driving.

The Wi-Fi system will enable a person to surf the Internet, chat with friends on Facebook, and engage in Twitter. Besides, you can listen to non-stop songs and music from the Pandora Internet radio fitted in your car dashboard. Volvo's Sensus Connect uses the voice command system to switch over the radio stations.

Launched officially in 2011, Toyota's Entune system can easily use the driver's Smartphone (having the downloaded Entune app) to bring popular apps such as MovieTickets.com, Bing, Pandora, OpenTable to your car dashboard.

North American International Auto Show Full of 2014 Optimism ... and Technology

The "North American International Auto Show" will be held on January 13-26, 2014 at the Cobo Center showcasing a variety of cars and technology by the premier automotive manufacturers including GM, Ford, Toyota, BMW, and more.

Purchase a Car through Bad Credit Auto Financing

Many auto dealers in the US offer bad credit auto financing facility to let people with a poor credit score purchase a vehicle of their choice and within their budget. Thus, the auto dealers offer car loan to people having good, bad or no credit.

You have a bad credit and you are worried that you will never be able to purchase a car. Well, you are not the only person suffering from a bad credit situation, there are many like you in USA. The good news is many auto lenders and car dealers are providing bad credit auto financing facility to help people drive home in a newly purchased car!

The traditional lending sources such as banks and credit unions refuse to lend money to a person with a bad credit on the pretext he won't be able to repay the final amount within the term period. Many US dealers are providing auto loans to people irrespective of their financial situation. They also tend to offer the lowest rate of interest on the lending amount making it easier for people to pay off the loan amount plus the interest within the time span.

To share a personal incident, one of my peers Sandra went through a rough phase of her life last year with a bitter divorce and staying at home without a job. She was on the lookout for a dealer to buy a small car and also take a car loan. I know how much she needed a vehicle as she was living in the countryside and it was difficult for her to travel every day to the city in search for a job. Anyway, after a few days of searching she got in touch with a dealer who offered her a low rate for the car she chose to purchase.

Hearing about her financial condition, the auto dealer told her to instantly apply for a bad credit auto loan online to get it pre-approved quickly. The volume of paperwork is also less compared to the amount of paperwork a bank indulges in at the time of loan approval. Starting from online loan application to finally getting the loan amount, the entire procedure takes much less time to get completed so that you get the keys of your new vehicle within a few days.

Here are the basic elements of bad credit auto financing:

• Quick online application
• Instant loan pre-approval via an email
• Less amount of documents to be signed and submitted
• Low interest rate and low monthly payments
• Low down payment and often zero down payment is charged depending on the credit condition of people
• Fast loan approval procedure followed
• 24/7 customer support to get guidance or necessary assistance regarding applying for a car loan