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Auto Finance Growth Outlook Sparks Confidence

The outlook for auto finance growth is encouraging, the latest TransUnion report on auto loan volume and delinquencies shows.

"We've seen credit availability play a big role with the increase in car sales, and credit availability is still good," Peter Turek, TransUnion's vice president of automotive, said Wednesday in a phone interview discussing the report. .

The combination of higher loan volumes and low delinquencies builds confidence in the auto finance market, he said.

"Dealers have confidence lenders are going to be around. Lenders have confidence dealers are not putting consumers in vehicles they can't handle when they hit a rough patch," Turek said.

Completing the picture, he said, consumers have enough confidence to take on more debt.

In both the prime and subprime categories, buyers are borrowing in greater numbers as auto sales increase, and, on average, they are borrowing bigger amounts per loan, TransUnion said.

In the second quarter this year, the average debt per loan was $13,435, up about 4 percent from $12,875 in the 2012 period.

Despite the increase, buyers with prime and subprime credit are managing to make payments on time at almost exactly the same rate as a year ago, Turek said.

Among all borrowers, only 0.80 percent of auto loans were 60 or more days delinquent in the second quarter of 2013. That was a slight increase from 0.79 percent a year earlier, TransUnion said.

Loans that are delinquent 60 or more days are the most likely to be written off as bad loans.

For buyers with subprime credit, the 60-day delinquency level was 5.02 percent, only a small increase from 4.94 percent a year earlier.

"It's encouraging to see consumers take on more auto debt while delinquencies remain low," Turek said. "Consumers clearly are more confident in managing additional debt."

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Efficient Driving.



The difference between a high and low rate of fuel consumption can be achieved through efficient driving. Efficient driving is the modern and perfect way to arrive at any destination faster and safer.

Tips necessary to achieve efficient driving.

Regularly check the tyre pressure.

Low tyre pressure is not only a high-risk driving but also leads to a higher consumption of fuel. The rolling resistance of the car requires a considerable amount of energy to overcome. The lower the tyre pressure, the more the rolling resistance, and the higher the fuel consumption. Low tyre pressure also affects the vehicle braking and handling capability.

Tyre pressure should be checked at least once every month. The vehicle manufacturers normally recommend different tyre pressures for driving a loaded and an unloaded vehicle. The different pressure levels are normally indicated on the car manual, on the door post or on the vehicles fuel filling cap. Electronic accessories can also be equipped to monitor tyre pressure.

Beware of the fuel consuming appliances.

When driving, it is important to note that money is spent whenever any extra energy is used in the car. Electrical gadgets depend on the electric energy converted during the fuel combustion process. Electrical appliances such as air conditioners, onboard car heaters and modern HiFi systems should be used considerably since they increase the level of fuel consumption.

Driving around bends on the road.

Driving around bends can increase fuel consumption if not done efficiently. Efficient driving around bends involves a careful consideration of the prevailing weather conditions, the nature of the bend, the suitability of the road and the speed at which one approaches the bend. Instead of changing to a lower gear, the speed should be altered by a simple manipulation of the brakes.

The use of brakes can further be limited by a prior anticipation of the bends during approach. A sudden application of the brakes to negotiate the bend, followed by a drastic higher engine revolution to achieve acceleration is not only a possible cause of an accident but also increases fuel consumption.

Driving uphill.

Without the right acceleration and correct brake application, travelling uphill can lead to a higher level of fuel consumption. The secret for efficient driving in a mountainous terrain is to drive at a constant speed, engine revolution of 1000 rpm, while having a full load, instead of the usual high gear with maximum application of pressure on the accelerator.

Switch off the engine when necessary.

Fuel is used whenever the car engine runs. Efficient driving involves switching off the engine when necessary. When you stop temporarily such as on pedestrian crossing, railway crossing, when at the stop of the traffic lights or when you take a short stop to wait for someone, it is necessary to switch off the engine to save on the fuel consumption.

For modern vehicles, switching on the engine upon resumption of the journey does not necessarily need the pressing of the accelerator pedal. This makes starting the engine harder, thus leading to an increase in the amount of fuel used. The cars engine management system is designed to enable a proper starting of the engine.

Consider the cars aerodynamic performance.

The aerodynamic quality of a car greatly determines its fuel saving capability. During manufacture, all cars are tested for their ability to withstand and perform within acceptable standards of aerodynamic capabilities. The quality is, however, altered by the addition of other accessories such as roof boxes and extra aerials on the cars.

Such accessories will increase the air resistance during motion, thus increasing the rate of fuel consumption. When not necessary, roof boxes should be avoided especially for long journeys. Driving with open windows also allows air currents inside the vehicle, thus increasing air resistance. This, in the long run, reduces the cars aerodynamic capability.

Maintain a steady driving speed.

Maintaining a steady driving speed, with a lower engine revolution saves a larger amount of fuel compared to driving at the same speed, but with very drastic application of brakes and irregular intervals of acceleration.

Efficient driving involves a smooth driving, with minimal stress on the vehicles performance, and an undisturbed cruising. It is advisable to use the cars cruise control for highway driving and driving in challenging traffic situations within the city. This will help achieve a smooth driving. For professional help you may wish to learn to drive efficiently in Glasgow.

Make use of onboard devices.

Modern cars are equipped with onboard computers and other devices that help monitor the fuel consumption patterns while driving. They indicate the average and actual fuel consumption levels, giving the driver a real-time feedback on the rate at which fuel is used.

Cruise control, on the other hand, enables the maintenance of a steady driving speed, and a more relaxed style of driving. The Revolution counter prevents the car from being driven at a speed that would otherwise be considered excessive, inefficient and dangerous.

Efficient driving is an important technique that should be avoided by drivers for both short and long journeys. The benefit of this kind of driving is that it improves the safety of both the driver and other road users, promotes environmental friendliness by reducing the rate of smoke emissions and saves on the cost of fuel.

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Sell Your Car Quickly & For Free Or On A Tight Budget

Selling your car without taking it to the dealership does have its benefits of course, but there are going to be both pros and cons. The drawbacks aren't the same in every situation, and of course the idea is to not just sell your car but quickly and cheaply, right?

The very first thing you need to be doing is looking at all the ways you can advertise for free. You might not know all the ways to advertise a car online for free at first, but it pays to look around. If you can get your car on several sites listed for free, give it a day or two to see if you get bites off of those advertisements first.

Next, you might be thinking it's time to start looking at paid listings, but first you have to think about everything else you're doing on the side as well to sell your car. Online listings are often the best way to get your car sold quickly, but other things matter, too.

For example, where is your car located? You might want to have your car kept in a garage so that it stays nice. However, do you have the luxury of parking it out somewhere on your property with a for sale sign? Or, if it's the car you're driving, you can have a for sale sign on the car as you're driving it around.



You can even purposely drive the car that's for sale, even if you usually buy another car. Hey, it's free publicity, and you never know when someone will either stop you and make an offer or call you later with one by getting your phone number off of the for sale sign.

You also of course want to keep your car clean. If it's the one you're driving, that can be difficult. Of course, you could choose not to drive it everywhere like to work and back, but instead drive it on occasion like for other outings and on the weekends.

Pricing your car correctly is one way to get the sale, and of course you want to make the right amount of money on the deal, too. That's why at all costs, you want to stay away from paid advertising if possible. Every dollar counts when you're trying to profit off of the sale of your vehicle.

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