Debt Reduction Advice | Debt Reduction Advice

Consumers in the current economy are more focused than ever on getting their money’s worth, and new car purchases are no exception.

However, financial institutions still have tighter lending standards than they did a few years ago, which means those who hope to purchase a new car need to have the highest credit score possible. Otherwise, they are likely to be denied for a loan or end up having to pay high interest rates.

Many people have responded to the economy by exploring their options in the used car market. However, auto dealers have been responding to the financial climate in their own right by offering various bargains and incentives for new models, especially in light of the various recent safety recalls that have undermined public confidence in a handful of well-established automakers.

Those who have checked their credit reports and have a high enough credit score to qualify for a new car loan may want to check a publication like Consumer Reports, which recently announced its 2010 top picks for American cars.

According to the consumer publication, the Ford Focus was the top pick in the small car category, while the best car overall was said to be the Ford Fusion Hybrid.