Bad news on the subprime front, as credit rating agency Experian reports a rise in delinquencies and repossessions for auto loans in Q1 2013.
Melinda Zabritski offered a rather dubious explanation for the nearly 17 percent rise in repos (as well as the 1.3 percent uptick in 30 day delinquencies and 12.4 percent rise in 60-day delinquencies) Read More >
A car bought in 1956 for $15,000 is expected to sell for between $1.5 million and $2 million when it goes on auction in November. It is expected to be the star of Sotheby’s first significant auction of collector cars in more than a decade, where some 35 prewar French cars, postwar American and European sports cars, as well as American and European classics will vie for the attention and wallets of affluent car nuts. Read More >
This essay on Delicious Tacos, about the life and death of an $800 Mercedes-Benz diesel sedan, drove home one of the unfortunate realities of living in a snowy climate: it’s nearly impossible to find anything for $800 that hasn’t been completely consumed by oxidization.
“I wouldn’t buy a car at an auction. They’re all junk!”
Bad transmissions. Blown engines. Cars that smoke, drink and hang out with the bad boys thanks to all different types of leaks and spewage. This is the general stereotype that most uninformed consumers have of those cars at an auction.
Most folks look at auction cars as vehicles that are worth more dead than alive. Every malady and defect is assigned to these ‘red light’ vehicles that are sold as/is with no warranty.
But do you know what is the #1 issue of those auctioned off trade-ins here in the Atlanta area?
Miata. E30. Panther. Is it time to add another nameplate to the Used Car Hall of Fame? Because the 2012+ Chevrolet Impala looks like a sure-fire winner to me.
I recently read an article that said a growing number of young Americans would rather have a smartphone than a car. Half of American teenagers prefer web access to car access, said the article, and communicating via text, e-mail or social media is taking the place of actually driving somewhere to spend time with someone. You know – in person.
This is, of course, because times are changing. Years ago, turning 16 meant inheriting a dead relative’s full-size sedan with V8 power, rear-wheel drive, and no traction control. Gas was eleven cents a gallon. It was practically an invitation to hoon. But today, turning 16 means spending thousands just to get saddled with a four-cylinder economy car that has annoying features like airbags and disc brakes. No wonder teens don’t want cars: their smartphones are probably faster. And less expensive.
Or are they? Read More >
As expected, Ford is closing an UK plant. Unexpectedly, Ford is closing another one right with it, bringing EU plant closings to three in two days. Ford is closing its Ford Transit plant in Southampton, and it is closing the stamping plant in Dagenham with it, says Automobilwoche [sub]. Read More >
When it comes to buying a used car there are two basic negotiating mindsets. You can either be fair and decent or unfair and obnoxious. If you seek to chisel and deceive then chances are you will get a bad car. Only the desperate and deceitful are willing to put up with that type of BS.
Want a ‘great’ car? Then realize that many sellers respond extremely well to honesty and decency. Win – win is no sin. So, karma lovers, here’s some tips for negotiating the purchase of a used car by observing the Golden Rule.
The sink itself is a recycled oil sump
Israeli artist Ronen Wasserman turned recycling into an art form. Literally. For the Ronmen TinMan design studio, Wasserman creates on-off furniture pieces from recycled car parts. Says TinMan in its mission statement: Read More >
Pretty soon, car salesmen will chase wreckers with the same fervor as lawyers chase ambulances. Finding a dead car might be their only chance to sell a new one. At least if a survey of nearly 4,000 car owners by AutoMD.com is right. Three in four respondents agreed that buying a vehicle every two to three years is a thing of the past, and 78 percent now say that 10+ years (or until it dies) is the appropriate vehicle lifespan. Is that how you think? Read More >
“Hey Sajeev, it’s Mark. We’re up in Tomball looking at a ’95 Bronco. We could use some advice.”
Without sarcasm, a laugh, or any explanation, Sajeev replied with one word, “Run.”
In response to a comment regarding Nissan’s social media plans for product development, and the revival of the B13 Sentra SE-R, I felt that I should share this nugget of gold with any readers adventurous enough to go marauding in Mexico in pursuit of a well-preserved sport compact.
Read More >
“Reliability, safety and availability” were the criteria Edmunds used to arrive at its 2012 used car best bets. They are taken from the pool of 2005 through 2010 cars, because two to seven year old cars usually are the better deals.
And the winners are: Read More >
Did we tell you a month ago to sell your used car now if you want to get the most mullah out of your clunker? We (or rather NADA) called the peak correctly. Used car prices are heading south. Read More >
Used car prices have been rising for a while to a degree that sometimes it can be cheaper to buy new than used. If you have been sitting on the fence, it could be time to hop on down. Used car prices are predicted to peak within the next two months. Read More >
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