Archive for the ‘Automotive’ Category
Jenny Mclane asked:
When the prices of gasoline reached its peak over the three dollar mark last year, it changed the landscape of the auto industry. With more and more consumers wary of an impending increase in the prices of gasoline, fuel efficient small cars are now in demand. This resulted to lesser sale of SUVs and other large cars.
In this way, the price of gasoline changed the auto industry wherein car manufacturers are now focusing on the development of small cars which are commonly fuel efficient. There are still SUVs being introduced in the market for those who need the capability of these large cars for their lifestyle or business. There are also large trucks with hybrid versions which are aimed at those people who want a big car with good gas mileage. Aside from this, another aspect that the increased gas price affected the auto industry is in the sale of used cars.
Recently, more and more consumers are selling their used cars on the Internet rather than settling for a trade-in. This is because auto retailers are offering lower prices. The reason behind this is that they are still struggling to sell the large number of SUVs that consumers have been turning their back on at the onset of the oil price hike.
The trend in using the Internet to sell used car gained momentum last year as the prices of gasoline started soaring. Analysts argue that retailers are focusing on selling new SUVs which have seemed to lose its appeal on most car buyers.
By the end of last year, 34 percent of the used car sale market is attributed to personal sale of used cars. This trend will likely continue as there are still old vehicles that needs replacing because of the increase in the price of gas.
The use of the Internet as a selling tool is a logical step for consumers who want to sell their used cars. The Web is full of online vehicle stores which facilitates the sale of used cars. By using the Internet, consumers have access to a large number of people who are looking for used cars to buy. This influx of used car sale in the market has created a huge source of income for online vehicle stores.
The Internet is being used by used car owners as their own personal Pacesetter exhaust since this is where they release their used cars to the market. And while the trend has been going on for months, analysts say that the trend is just a temporary response to the increase in the price of gasoline. In the near future, when dealerships have taken care of the bulk of SUVs left on their stores, they can already offer good price for consumers who wants to trade-in their used cars.
Gregg Hall asked:
It seems there are as many sales tactics to sell cars as there are cars. They are all designed to achieve the same purpose and that is to get you to sign on the dotted line. Let’s take a look at some more of the common methods out there today.
Salespeople know by now that people who come in to dealerships are naturally suspicious of salespeople and knowing this they have their own little brand of psychology to deal with and combat it.
One of the favorites is the “I’m a trustworthy salesman” garbage. Yeah right, and I have some beachfront property in Arizona to sell you. If you are a real tough customer and say something like you are going to come back tomorrow, they will say “That’s perfect, I can get you a better deal tomorrow, they are trying to get a higher profit today” like tomorrow is going to be any different?
The next thing is something that anyone who has bought a car has probably seen, getting you set on a particular car and taking you on a demo ride. The walk around is designed to end up with you at the driver’s side of the car. He will have you sit in it and turn it on and then say, “Let’s go for a ride!” This works especially well if you have a family, he will enlist their help as well. Kids always want to go for a ride in a new car! While on the demo ride he will be constantly probing you and asking questions, finding out what you like and logging it in his memory.
Confusion is the next trick that is used. For example if it has been determined that you are a payment buyer the slick salesman will just keep quoting the payments to you and not even pay attention to the price of the car. They will do the same thing if you come in with a trade difference figure in mind. They will keep going to the trade allowance and try to convince you the difference doesn’t matter. The point is never tell them you only car about the payments, or your trade value, or the difference. You want to be able to keep tabs on all factors of the transaction. Also when trading beware of them trying to devalue your trade in your eyes, they will do this by running their hands over minor blemishes and making comments about it.
It seems there are as many sales tactics to sell cars as there are cars. They are all designed to achieve the same purpose and that is to get you to sign on the dotted line. Let’s take a look at some more of the common methods out there today.
Salespeople know by now that people who come in to dealerships are naturally suspicious of salespeople and knowing this they have their own little brand of psychology to deal with and combat it.
One of the favorites is the “I’m a trustworthy salesman” garbage. Yeah right, and I have some beachfront property in Arizona to sell you. If you are a real tough customer and say something like you are going to come back tomorrow, they will say “That’s perfect, I can get you a better deal tomorrow, they are trying to get a higher profit today” like tomorrow is going to be any different?
The next thing is something that anyone who has bought a car has probably seen, getting you set on a particular car and taking you on a demo ride. The walk around is designed to end up with you at the driver’s side of the car. He will have you sit in it and turn it on and then say, “Let’s go for a ride!” This works especially well if you have a family, he will enlist their help as well. Kids always want to go for a ride in a new car! While on the demo ride he will be constantly probing you and asking questions, finding out what you like and logging it in his memory.
Confusion is the next trick that is used. For example if it has been determined that you are a payment buyer the slick salesman will just keep quoting the payments to you and not even pay attention to the price of the car. They will do the same thing if you come in with a trade difference figure in mind. They will keep going to the trade allowance and try to convince you the difference doesn’t matter. The point is never tell them you only car about the payments, or your trade value, or the difference. You want to be able to keep tabs on all factors of the transaction. Also when trading beware of them trying to devalue your trade in your eyes, they will do this by running their hands over minor blemishes and making comments about it.
Jim Johnson asked:
Back in the old days almost all private sellers placed ads in the local newspaper and maybe even in the auto shopper journals whenever they wanted to sell a car. But the internet has added a whole new dimension to car selling that can help you sell your car on line fast. Of course, you can still use the old print methods too but you really need to consider adding internet advertising too.
It’s just simply an established fact that you will make more money if you sell your car yourself rather than trade it in at a car dealer. In fact, if your car is less than 4-5 years old, you can lose several thousands of dollars by trading it into the dealer instead of selling it yourself. And if your car is more than 5 years old, you are really going to take a hit by accepting a car dealer’s trade. So the amount of profit that you stand to make by selling your car certainly more than makes the whole process of doing so worthwhile.
If you want to sell your car fast, newspaper advertising is probably not the way to go anymore either as newspapers still charge outrageous amounts for classified ads that have very few words to really be able to describe the car and no pictures at that. Savvy shoppers have come to recognize that if they really want to get as much information as possible about used cars in their area before test driving them, they need to go online where the information on each car can be abundant, even including photos.
So if you want to sell your car on line you have to first set an advertising budget. Very often you can get an ad on one of the most popular car classified sites for about $20-25 for a month. So if you want to spread your ad around to 3-4 different sites this would be an ad budget of $75-100 for that month. When you compare that cost with most newspaper ads that cost around $35 for just a week you can begin to see why you can often do much better for the money you spend when you sell your car on line instead of through local print.
You also tend to get much faster response times from online ads too, simply because they are reaching a much larger audience than your local newspaper. Buyers that live outside the distribution area of your newspaper may be willing to drive a little extra to get the car they want, and most online car sales sites let visitors search their entire region by a 50-100 mile radius. So your ad will simply be put in front of more people when you sell your car on line than you could expect otherwise, and that usually translates to faster sales.
So if you have been thinking about how to sell your car on line, just make a search for online used car sales sites, and pick a few that you think would be popular in your area. Search through the listings and you will most likely see that lots of folks are coming to realize that selling cars online is the best way to go these days.
Back in the old days almost all private sellers placed ads in the local newspaper and maybe even in the auto shopper journals whenever they wanted to sell a car. But the internet has added a whole new dimension to car selling that can help you sell your car on line fast. Of course, you can still use the old print methods too but you really need to consider adding internet advertising too.
It’s just simply an established fact that you will make more money if you sell your car yourself rather than trade it in at a car dealer. In fact, if your car is less than 4-5 years old, you can lose several thousands of dollars by trading it into the dealer instead of selling it yourself. And if your car is more than 5 years old, you are really going to take a hit by accepting a car dealer’s trade. So the amount of profit that you stand to make by selling your car certainly more than makes the whole process of doing so worthwhile.
If you want to sell your car fast, newspaper advertising is probably not the way to go anymore either as newspapers still charge outrageous amounts for classified ads that have very few words to really be able to describe the car and no pictures at that. Savvy shoppers have come to recognize that if they really want to get as much information as possible about used cars in their area before test driving them, they need to go online where the information on each car can be abundant, even including photos.
So if you want to sell your car on line you have to first set an advertising budget. Very often you can get an ad on one of the most popular car classified sites for about $20-25 for a month. So if you want to spread your ad around to 3-4 different sites this would be an ad budget of $75-100 for that month. When you compare that cost with most newspaper ads that cost around $35 for just a week you can begin to see why you can often do much better for the money you spend when you sell your car on line instead of through local print.
You also tend to get much faster response times from online ads too, simply because they are reaching a much larger audience than your local newspaper. Buyers that live outside the distribution area of your newspaper may be willing to drive a little extra to get the car they want, and most online car sales sites let visitors search their entire region by a 50-100 mile radius. So your ad will simply be put in front of more people when you sell your car on line than you could expect otherwise, and that usually translates to faster sales.
So if you have been thinking about how to sell your car on line, just make a search for online used car sales sites, and pick a few that you think would be popular in your area. Search through the listings and you will most likely see that lots of folks are coming to realize that selling cars online is the best way to go these days.
Jason Moore asked:
Toyota Corolla models led Japan’s vehicle sales rankings in the first half of the year, after the company fixed the model in October for the first time in six years.
The Japan Automobile Dealers Association said Thursday in a release that sales of the Corolla climbed 9.4 percent to 77,326 units in the six-month period that ended June 30. Toyota also took second place along with the Vitz compact car.
With engines of 1 to 1.5 liters, compact cars comprise the second-largest car segment in Japan behind minicars. Hirofumi Yokoi, an analyst at CSM Worldwide, said the category commanded a 28.9 percent market share or almost 1.56 million vehicles in 2006, and will grow to 29.4 percent this year.
Yokoi also said the segment will grow the fastest this year because of the top-selling three models, particularly the new Corolla. CSM forecasts the minicar category will decline from a 37.3 percent share in 2006 to 36.4 percent this year.
Equipped with quality Toyota catalytic converter, Corolla topped the sales ranking in June for a ninth straight month, followed by Toyota’s Vitz and Honda’s Fit.
Selling 4 out of every 10 vehicles in Japan, Toyota claimed 4 of the top 10 slots in sales rankings last month.
Excluding minicars and imports, Japan’s vehicle sales dropped for its 24th straight month in June by 11.2 percent to 291,640 units. Sales in the first half of 2007 dropped to their lowest since 1975 to 1.8 million.
Aside from Toyota, other Japanese car makers also achieved an increase. Honda Motor’s Fit compact was the third best-selling model. Suzuki Motor’s Wagon R and minicars kept the top slot for a fifth straight month, with sales of 19,786 in June. The second spot went to Daihatsu Motor’s Move, followed by Daihatsu’s Mira.
Minicars are powered by engines not larger than 0.66 liters. They accounted for 6 of the 10 best-selling models in June.
About Toyota
In June 12, 2006, Toyota was named as one the Best Companies for Diversity by Black Enterprise. With 40 companies that were ncluded last year, the list recognizes companies that have demonstrated important representation of African Americans and other ethnic minorities in areas that include procurement, corporate boards, senior management, and the total workforce. This was the first time that Toyota has participated in the Black Enterprise survey, which looks at more than 1,000 of America’s biggest publicly traded companies, as well as global companies with significant U.S. operations.
Toyota Corolla models led Japan’s vehicle sales rankings in the first half of the year, after the company fixed the model in October for the first time in six years.
The Japan Automobile Dealers Association said Thursday in a release that sales of the Corolla climbed 9.4 percent to 77,326 units in the six-month period that ended June 30. Toyota also took second place along with the Vitz compact car.
With engines of 1 to 1.5 liters, compact cars comprise the second-largest car segment in Japan behind minicars. Hirofumi Yokoi, an analyst at CSM Worldwide, said the category commanded a 28.9 percent market share or almost 1.56 million vehicles in 2006, and will grow to 29.4 percent this year.
Yokoi also said the segment will grow the fastest this year because of the top-selling three models, particularly the new Corolla. CSM forecasts the minicar category will decline from a 37.3 percent share in 2006 to 36.4 percent this year.
Equipped with quality Toyota catalytic converter, Corolla topped the sales ranking in June for a ninth straight month, followed by Toyota’s Vitz and Honda’s Fit.
Selling 4 out of every 10 vehicles in Japan, Toyota claimed 4 of the top 10 slots in sales rankings last month.
Excluding minicars and imports, Japan’s vehicle sales dropped for its 24th straight month in June by 11.2 percent to 291,640 units. Sales in the first half of 2007 dropped to their lowest since 1975 to 1.8 million.
Aside from Toyota, other Japanese car makers also achieved an increase. Honda Motor’s Fit compact was the third best-selling model. Suzuki Motor’s Wagon R and minicars kept the top slot for a fifth straight month, with sales of 19,786 in June. The second spot went to Daihatsu Motor’s Move, followed by Daihatsu’s Mira.
Minicars are powered by engines not larger than 0.66 liters. They accounted for 6 of the 10 best-selling models in June.
About Toyota
In June 12, 2006, Toyota was named as one the Best Companies for Diversity by Black Enterprise. With 40 companies that were ncluded last year, the list recognizes companies that have demonstrated important representation of African Americans and other ethnic minorities in areas that include procurement, corporate boards, senior management, and the total workforce. This was the first time that Toyota has participated in the Black Enterprise survey, which looks at more than 1,000 of America’s biggest publicly traded companies, as well as global companies with significant U.S. operations.
Julie Davidson asked:
Buying a car, new or used, is a big expenditure. Unfortunately, most people go to the car dealership thinking they have to pay the full sticker price of the car, not realizing there are many ways to save money. It’s also important to know how the dealers make their money on each car sale. Such knowledge will help you get the very best price on your next vehicle.
1) Know how much the car is worth.
Do your homework and research your car choices before attending a new car sale or purchasing a used car. You’ll want to know the true value of the car you wish to buy as well as the value of your current car if you wish to trade it in.
Visit the factory website of the model of car you want to see what the factory list price is for each vehicle. For example, Ford’s website (http://www.ford.com/) offers an online vehicle showroom where you can choose your next new car and pick the price range.
Go to several different dealers and research different deals on the same car before purchasing it. A lot of dealers’ prices will differ on the same make and model. Check out the wealth of information on http://www.carsguide.news.com.au which offers price comparisons on your new or used car as well as tips to help you when you purchase.
The Red Book (http://www.redbookasiapacific.com/au/) is an excellent resource to see how much a used or new car is worth. Car dealers make money by marking up the price, as do private sales. Knowing that a car is unfairly priced will help you to save hundreds, if not thousands of dollars.
2) Get the proper financing.
Car dealers can make a bundle of money selling you more car than you can afford by offering you financing for a longer period of time. You can also expect to pay more for lease options if you’re not careful. Banks and finance companies typically offer a lower interest rate than car dealerships. You can also look into financing from the manufacturer of the car for sale—you’ll pay much less in interest than on a loan from the dealer.
Banks take longer to grant approval than finance companies, which can often approve your loan online in minutes.
Never pay for a new or used car on a credit card, as you’ll be paying lots more in interest rates. One of the very best tactics is to get pre-approved for the purchase of a used or new car at a financing institution before you go car shopping. When you’re shopping, don’t tell the car sales associate. A lot of times the car dealer will cut the price of your car, thinking they’ll make money on the financing later. It will be too late to change the price on the car once they realize you already having financing.
3) Buy at the right time of the month.
Most car salesmen work on commission and get incentives for selling the most cars. By the end of the month they know if they need to up their sales and they’ll be more persuasive and aggressive to get that one last sale. However, you can use this need to sell to your advantage.
Visit a car dealership at the beginning or first of the month for an initial visit, but not to buy. This takes some of the pressure off because the salesmen aren’t going to be as persuasive to have you purchase something you can’t afford or don’t want.
Visit several car dealerships to inspect the assorted car sales and take plenty of notes. Then return to the car dealership of your choice at the end of the month when dealers are eager to make a quick car sale. Chances are you’ll get a great deal on a fantastic new or used car.
4) Forgo the extended warranty and extras.
You don’t need an extended warranty, though the salesman will make you worry and fret until you shell out the extra money to pay for the warranty. Most of the time, if you care for your car properly and maintain it according to the factory specifications you won’t need an extended warranty.
If you really think you should purchase one, wait as long as possible. Most companies allow you to wait until you’re close to the end of your regular warranty to purchase one. By then you’ll know how much maintenance your vehicle needs. If it’s a lemon by nature then an extended warranty might be a good idea in the long run.
You don’t need most of the extras offered, like rust-proofing, paint protection, tinted windows and life insurance. Educate yourself about what you need and what you don’t to keep from paying unnecessary charges.
Verify how much you’re paying for hidden charges such as shipping and preparation charges. Most of the time you can negotiate these charges down in your car sale.
5) Consider Used vs. New
New cars depreciate quickly the first two years of ownership. In fact, expect your $20,000 new car to cost you almost $7,000 in depreciation and interest rates alone (with a 6.9% loan) during that time. When you buy a used car the original owner has already absorbed the depreciation costs, leaving you with a good car that’s worth every penny.
However, the car sale market may be so slow that good deals can be had when buying a new car over a used car. It’s essential to be aware of how much car you can afford to buy and to guard against getting suckered into buying more car than you can afford.
Used Car Purchase Tips:
The uncertainty about a cars history–whether it’s been well taken care of or possibly damaged by an accident–can make some people leery about buying a used car. When buying used, it’s important to look for a car that has been properly maintained and an owner who has the records to prove it.
When buying used consider forgoing the financing and instead buy outright. Financing is a way car dealers to make money off of used car sales. Opting to pay for it in full puts money in your pocket.
Don’t be afraid of high mileage. A car driven by Grandma on weekends could actually have more problems because an idle car usually has problems associated with sitting around, such as plugged lines or rusty breaks. If you’re unsure about buying a used car because you don’t know enough about how cars work, consider spending the money to get a vehicle inspection from a reputable garage.
Buying a car, new or used, is a big expenditure. Unfortunately, most people go to the car dealership thinking they have to pay the full sticker price of the car, not realizing there are many ways to save money. It’s also important to know how the dealers make their money on each car sale. Such knowledge will help you get the very best price on your next vehicle.
1) Know how much the car is worth.
Do your homework and research your car choices before attending a new car sale or purchasing a used car. You’ll want to know the true value of the car you wish to buy as well as the value of your current car if you wish to trade it in.
Visit the factory website of the model of car you want to see what the factory list price is for each vehicle. For example, Ford’s website (http://www.ford.com/) offers an online vehicle showroom where you can choose your next new car and pick the price range.
Go to several different dealers and research different deals on the same car before purchasing it. A lot of dealers’ prices will differ on the same make and model. Check out the wealth of information on http://www.carsguide.news.com.au which offers price comparisons on your new or used car as well as tips to help you when you purchase.
The Red Book (http://www.redbookasiapacific.com/au/) is an excellent resource to see how much a used or new car is worth. Car dealers make money by marking up the price, as do private sales. Knowing that a car is unfairly priced will help you to save hundreds, if not thousands of dollars.
2) Get the proper financing.
Car dealers can make a bundle of money selling you more car than you can afford by offering you financing for a longer period of time. You can also expect to pay more for lease options if you’re not careful. Banks and finance companies typically offer a lower interest rate than car dealerships. You can also look into financing from the manufacturer of the car for sale—you’ll pay much less in interest than on a loan from the dealer.
Banks take longer to grant approval than finance companies, which can often approve your loan online in minutes.
Never pay for a new or used car on a credit card, as you’ll be paying lots more in interest rates. One of the very best tactics is to get pre-approved for the purchase of a used or new car at a financing institution before you go car shopping. When you’re shopping, don’t tell the car sales associate. A lot of times the car dealer will cut the price of your car, thinking they’ll make money on the financing later. It will be too late to change the price on the car once they realize you already having financing.
3) Buy at the right time of the month.
Most car salesmen work on commission and get incentives for selling the most cars. By the end of the month they know if they need to up their sales and they’ll be more persuasive and aggressive to get that one last sale. However, you can use this need to sell to your advantage.
Visit a car dealership at the beginning or first of the month for an initial visit, but not to buy. This takes some of the pressure off because the salesmen aren’t going to be as persuasive to have you purchase something you can’t afford or don’t want.
Visit several car dealerships to inspect the assorted car sales and take plenty of notes. Then return to the car dealership of your choice at the end of the month when dealers are eager to make a quick car sale. Chances are you’ll get a great deal on a fantastic new or used car.
4) Forgo the extended warranty and extras.
You don’t need an extended warranty, though the salesman will make you worry and fret until you shell out the extra money to pay for the warranty. Most of the time, if you care for your car properly and maintain it according to the factory specifications you won’t need an extended warranty.
If you really think you should purchase one, wait as long as possible. Most companies allow you to wait until you’re close to the end of your regular warranty to purchase one. By then you’ll know how much maintenance your vehicle needs. If it’s a lemon by nature then an extended warranty might be a good idea in the long run.
You don’t need most of the extras offered, like rust-proofing, paint protection, tinted windows and life insurance. Educate yourself about what you need and what you don’t to keep from paying unnecessary charges.
Verify how much you’re paying for hidden charges such as shipping and preparation charges. Most of the time you can negotiate these charges down in your car sale.
5) Consider Used vs. New
New cars depreciate quickly the first two years of ownership. In fact, expect your $20,000 new car to cost you almost $7,000 in depreciation and interest rates alone (with a 6.9% loan) during that time. When you buy a used car the original owner has already absorbed the depreciation costs, leaving you with a good car that’s worth every penny.
However, the car sale market may be so slow that good deals can be had when buying a new car over a used car. It’s essential to be aware of how much car you can afford to buy and to guard against getting suckered into buying more car than you can afford.
Used Car Purchase Tips:
The uncertainty about a cars history–whether it’s been well taken care of or possibly damaged by an accident–can make some people leery about buying a used car. When buying used, it’s important to look for a car that has been properly maintained and an owner who has the records to prove it.
When buying used consider forgoing the financing and instead buy outright. Financing is a way car dealers to make money off of used car sales. Opting to pay for it in full puts money in your pocket.
Don’t be afraid of high mileage. A car driven by Grandma on weekends could actually have more problems because an idle car usually has problems associated with sitting around, such as plugged lines or rusty breaks. If you’re unsure about buying a used car because you don’t know enough about how cars work, consider spending the money to get a vehicle inspection from a reputable garage.
Ian Jefferson asked:
If you’re thinking about heading over to an upcoming used car auction, this will be the most important article you’ll ever read. Here’s why.
When it comes to used car auctions, many folks out there aren’t too keen on buying cars simply because they’re afraid they might get ripped off. Sure, things like this do happen, but think of all the great car deals you’ll miss out on, by avoiding going to a used car auction!
Here are 3 simple tips that will help you come out on top at used car auctions:
Tip #1: Have a car dealer accompany you to the auction
You might have noticed that most auctions sell used cars that have been inspected and are open to car dealers only. If you’re keen on visiting such an auction, make sure you get a knowledgeable car dealer to accompany you.
Of course, you can also head over to an auction that displays cars that aren’t inspected, since these types of auctions are often meant for the entire public.
However, more risk is involved because there isn’t a set standard for the used cars being sold. So you do need to be a bit careful before buying one.
Tip #2: Check out the car before immediately going ahead and purchasing it
You’ll find the cars are often sold as is, in most used car auctions out there. This means that neither guarantees nor warranties are offered to the buyer.
So to avoid getting conned by ‘rogue’ car auctioneers, you want to be at a used car auction as early as possible. This way, you can leisurely check out all of the features of the car as well as its overall condition.
Better yet, why not take along an expert on used car auctions. Doing this might not only save you time but also your hard-earned money.
And sometimes, things can happen pretty fast, (e.g. used car auction pros will be impatient to quickly close deals), and if you aren’t very familiar with the whole process, it helps to have an expert on the subject at hand.
Tip #3: Know that all bids are final!
One of the most vital things to keep in mind when buying a car at a used car auction, is that all bids are final once bidding has closed. If yours happens to be the highest bid for a particular model, and if it’s accepted by the seller, then you must pay in cash for the car you’ve bid on.
And depending on the seller, you can expect to pay a deposit of a minimum of five hundred dollars. In case you change your mind later on, you cannot get back your money, because the used car auction has a right to retain your deposit!
You see, this is how it works: the seller sells his car to the used car auction, which is then transferred to you. Even if you decide against paying the full amount, the auction is still obligated to pay the seller. Hence, if you fail to pay up, you can be sued for the entire cost of the car! This is why it’s so important to know what you’re getting into, before going ahead and buying the vehicle.
So the next time you decide to attend a used car auction, keep these tips in mind – chances are, you’ll end up buying a car that will prove to be good value for money!
If you’re thinking about heading over to an upcoming used car auction, this will be the most important article you’ll ever read. Here’s why.
When it comes to used car auctions, many folks out there aren’t too keen on buying cars simply because they’re afraid they might get ripped off. Sure, things like this do happen, but think of all the great car deals you’ll miss out on, by avoiding going to a used car auction!
Here are 3 simple tips that will help you come out on top at used car auctions:
Tip #1: Have a car dealer accompany you to the auction
You might have noticed that most auctions sell used cars that have been inspected and are open to car dealers only. If you’re keen on visiting such an auction, make sure you get a knowledgeable car dealer to accompany you.
Of course, you can also head over to an auction that displays cars that aren’t inspected, since these types of auctions are often meant for the entire public.
However, more risk is involved because there isn’t a set standard for the used cars being sold. So you do need to be a bit careful before buying one.
Tip #2: Check out the car before immediately going ahead and purchasing it
You’ll find the cars are often sold as is, in most used car auctions out there. This means that neither guarantees nor warranties are offered to the buyer.
So to avoid getting conned by ‘rogue’ car auctioneers, you want to be at a used car auction as early as possible. This way, you can leisurely check out all of the features of the car as well as its overall condition.
Better yet, why not take along an expert on used car auctions. Doing this might not only save you time but also your hard-earned money.
And sometimes, things can happen pretty fast, (e.g. used car auction pros will be impatient to quickly close deals), and if you aren’t very familiar with the whole process, it helps to have an expert on the subject at hand.
Tip #3: Know that all bids are final!
One of the most vital things to keep in mind when buying a car at a used car auction, is that all bids are final once bidding has closed. If yours happens to be the highest bid for a particular model, and if it’s accepted by the seller, then you must pay in cash for the car you’ve bid on.
And depending on the seller, you can expect to pay a deposit of a minimum of five hundred dollars. In case you change your mind later on, you cannot get back your money, because the used car auction has a right to retain your deposit!
You see, this is how it works: the seller sells his car to the used car auction, which is then transferred to you. Even if you decide against paying the full amount, the auction is still obligated to pay the seller. Hence, if you fail to pay up, you can be sued for the entire cost of the car! This is why it’s so important to know what you’re getting into, before going ahead and buying the vehicle.
So the next time you decide to attend a used car auction, keep these tips in mind – chances are, you’ll end up buying a car that will prove to be good value for money!
Thomas Champeval asked:
Those looking to buy a used sports car are very familiar with the ultra-classic Chevrolet Corvette, This is one of the few models that have managed to stand the test of time. And adapt to the changes that have transformed the used auto industry over the last 55 years that the almighty “Vet” has been part of the used car motoring scene.
The modern used Chevrolet Corvette features a projection system for on-board data display onto the windshield, designed to let the driver keep his eyes on the road at all times. Good for day and night, and it is steerable, so that the engine speed, oil pressure, speed and the basic parameters of the machine are available to drivers, as found in a fighter aircraft. An original 1953 first generation Corvette is a long way from that kind of high tech equipment.
One thing the modern used Corvette shares with the original is that it just plain looks good. The corvette through the ages has consistently produced classic sports car lines that used car dealerships love to park close to the road to attract rubber-necking of less fortunate used vehicle drivers.
You do have to be a little energetic to lower yourself into the cockpit like environment of the passenger area that sits pretty low to the ground. The whole vehicle is “low slung” and the front skirt has a tendency to be easily caught on any high roadside object especially when parking, but that’s one of the very few minor drawbacks to this iconic used car.
If you are search the classifieds or trawl your local used auto dealers the most likely engine you will find in a used corvette is the 5.7L version that gives out 340 hp, which is a very powerful motor but it does devour gasoline. But this is a sports supercar, the brand has introduced numerous nuances in this legendary small block, aimed primarily at a sweetened response, to make it more pleasant and above all cleaner in terms of its CO2 output, fast becoming a major part of used vehicle considerations.
The latest engine is a 427 cubic inch 435 horsepower with the new system of no less than three twin barrel Holley carbs, although a rare L88 model was offered, with the help of a single quad-carb from Holley, which is capable of a whopping 560 horsepower. Although the GM listed its output at 430hp, they indicated that this model was strictly intended for operating on a closed circuit, and not to be used on the road. And we are sure that anyone who could get behind the wheel of such a used dream car would not want to show it off on the open road, then again.
If the truth is told, it is the name that is perhaps one of the main attractions of a used Corvette. It has a certain appeal that comes from its very long history and many people strive to buy a used Corvette because it was the first car that interested them when they were children or perhaps their favorite uncle owned one. This is a used vehicle that is very much built on history and reputation.
But on balance, we are talking about a V8, which already was an old acquaintance in the fifties, when it was introduced in the first Corvette. You can not go wrong with any generation of the stunning used Corvette; just take a trip around the used car dealers to see what is available.
Those looking to buy a used sports car are very familiar with the ultra-classic Chevrolet Corvette, This is one of the few models that have managed to stand the test of time. And adapt to the changes that have transformed the used auto industry over the last 55 years that the almighty “Vet” has been part of the used car motoring scene.
The modern used Chevrolet Corvette features a projection system for on-board data display onto the windshield, designed to let the driver keep his eyes on the road at all times. Good for day and night, and it is steerable, so that the engine speed, oil pressure, speed and the basic parameters of the machine are available to drivers, as found in a fighter aircraft. An original 1953 first generation Corvette is a long way from that kind of high tech equipment.
One thing the modern used Corvette shares with the original is that it just plain looks good. The corvette through the ages has consistently produced classic sports car lines that used car dealerships love to park close to the road to attract rubber-necking of less fortunate used vehicle drivers.
You do have to be a little energetic to lower yourself into the cockpit like environment of the passenger area that sits pretty low to the ground. The whole vehicle is “low slung” and the front skirt has a tendency to be easily caught on any high roadside object especially when parking, but that’s one of the very few minor drawbacks to this iconic used car.
If you are search the classifieds or trawl your local used auto dealers the most likely engine you will find in a used corvette is the 5.7L version that gives out 340 hp, which is a very powerful motor but it does devour gasoline. But this is a sports supercar, the brand has introduced numerous nuances in this legendary small block, aimed primarily at a sweetened response, to make it more pleasant and above all cleaner in terms of its CO2 output, fast becoming a major part of used vehicle considerations.
The latest engine is a 427 cubic inch 435 horsepower with the new system of no less than three twin barrel Holley carbs, although a rare L88 model was offered, with the help of a single quad-carb from Holley, which is capable of a whopping 560 horsepower. Although the GM listed its output at 430hp, they indicated that this model was strictly intended for operating on a closed circuit, and not to be used on the road. And we are sure that anyone who could get behind the wheel of such a used dream car would not want to show it off on the open road, then again.
If the truth is told, it is the name that is perhaps one of the main attractions of a used Corvette. It has a certain appeal that comes from its very long history and many people strive to buy a used Corvette because it was the first car that interested them when they were children or perhaps their favorite uncle owned one. This is a used vehicle that is very much built on history and reputation.
But on balance, we are talking about a V8, which already was an old acquaintance in the fifties, when it was introduced in the first Corvette. You can not go wrong with any generation of the stunning used Corvette; just take a trip around the used car dealers to see what is available.
Ally Wahlberg asked:
General Motors Corp.’s woes continue as its sales plunged in June no thanks to the ongoing sagging demand for its small cars and to Toyota Motor Corp.’s aggressive discounting which hurt sales of GM pickups.
GM suffered the biggest monthly decline among the major automakers, with sales down 21.3 percent in a market that was slightly weaker than the previous June.
Fellow Detroit automaker Ford Motor Co.’s sales were down 8.2 percent, for an eighth consecutive monthly decline, and DaimlerChrysler AG’s sales slipped 1.8 percent.
It was a different story though, for Japan’s leading automakers which all reported big gains.
Toyota put the Tundra’s launch back on track with big discounts. A report by Edmunds.com said that demand for the giant Japanese automaker’s first full-size truck wasn’t meeting the company’s annual sales target of 200,000 units but it all but turned around after Toyota offered no-interest loans and other incentives amounting to $5,083 per pickup. The move resulted in Tundra sales that more than doubled to 21,727 last month.
“The only large truck with a higher level of incentives in June than the Tundra was the (Dodge) Ram,” said Alex Rosten, manager of pricing and market analysis at Edmunds.com. “Everybody else was lower.”
Meanwhile, GM’s truck sales dived 22.9 percent – this despite the incentives offered by the automaker averaging less than $3,700 last month to its relatively new GMC Sierra and Chevrolet Silverado pickups. Sales of the GMC Sierra pickup fell 26.5 percent, while sales of the Chevrolet Silverado declined by 23.5 percent.
In contrast to its bigger Detroit rivals, Chrysler reported a 58.2 percent climb in car sales, reflecting big gains for the Chrysler Sebring and 300 sedans, while its light trucks volumes dropped 14.9 percent. Chrysler’s overall sales were down 1.4 percent.
It was the U.S. market’s shifting away from trucks and toward more fuel-efficient cars that helped Japan’s leading automakers. As of last month, car sales accounted for 49.3 percent of light vehicle sales, up from 47.7 percent in 2006.
Sales of Honda Motor Co. – also maker of top of the line Honda antenna mast, climbed 11.5 percent in June, while Nissan’s numbers jumped 22.7 percent, thanks to the strong sales of its Altima and Sentra cars.
Toyota continues to gain momentum, as its sales increased 10.2 percent to 245,739, putting it just 200 units behind Ford in June. The giant Japanese automaker’s Yaris, Camry and Prius gas-electric hybrid cars all recorded strong sales gains as gas prices averaged more than $3 a gallon.
U.S. passenger car market held steady in June, edging up 0.2 percent. GM’s car sales however, were down 20.1 percent.
Some industry analysts attribute the low sales to some of GM’s small cars which are aging and others which are not competitive.
GM seems to already know this is the case, “It’s a category where we haven’t been doing as well as we should be,” Paul Ballew, GM’s director of industry analysis said.
General Motors Corp.’s woes continue as its sales plunged in June no thanks to the ongoing sagging demand for its small cars and to Toyota Motor Corp.’s aggressive discounting which hurt sales of GM pickups.
GM suffered the biggest monthly decline among the major automakers, with sales down 21.3 percent in a market that was slightly weaker than the previous June.
Fellow Detroit automaker Ford Motor Co.’s sales were down 8.2 percent, for an eighth consecutive monthly decline, and DaimlerChrysler AG’s sales slipped 1.8 percent.
It was a different story though, for Japan’s leading automakers which all reported big gains.
Toyota put the Tundra’s launch back on track with big discounts. A report by Edmunds.com said that demand for the giant Japanese automaker’s first full-size truck wasn’t meeting the company’s annual sales target of 200,000 units but it all but turned around after Toyota offered no-interest loans and other incentives amounting to $5,083 per pickup. The move resulted in Tundra sales that more than doubled to 21,727 last month.
“The only large truck with a higher level of incentives in June than the Tundra was the (Dodge) Ram,” said Alex Rosten, manager of pricing and market analysis at Edmunds.com. “Everybody else was lower.”
Meanwhile, GM’s truck sales dived 22.9 percent – this despite the incentives offered by the automaker averaging less than $3,700 last month to its relatively new GMC Sierra and Chevrolet Silverado pickups. Sales of the GMC Sierra pickup fell 26.5 percent, while sales of the Chevrolet Silverado declined by 23.5 percent.
In contrast to its bigger Detroit rivals, Chrysler reported a 58.2 percent climb in car sales, reflecting big gains for the Chrysler Sebring and 300 sedans, while its light trucks volumes dropped 14.9 percent. Chrysler’s overall sales were down 1.4 percent.
It was the U.S. market’s shifting away from trucks and toward more fuel-efficient cars that helped Japan’s leading automakers. As of last month, car sales accounted for 49.3 percent of light vehicle sales, up from 47.7 percent in 2006.
Sales of Honda Motor Co. – also maker of top of the line Honda antenna mast, climbed 11.5 percent in June, while Nissan’s numbers jumped 22.7 percent, thanks to the strong sales of its Altima and Sentra cars.
Toyota continues to gain momentum, as its sales increased 10.2 percent to 245,739, putting it just 200 units behind Ford in June. The giant Japanese automaker’s Yaris, Camry and Prius gas-electric hybrid cars all recorded strong sales gains as gas prices averaged more than $3 a gallon.
U.S. passenger car market held steady in June, edging up 0.2 percent. GM’s car sales however, were down 20.1 percent.
Some industry analysts attribute the low sales to some of GM’s small cars which are aging and others which are not competitive.
GM seems to already know this is the case, “It’s a category where we haven’t been doing as well as we should be,” Paul Ballew, GM’s director of industry analysis said.
Iver Penn asked:
According to Edmunds.com, the premier online resource for automotive information, June’s new vehicle sales including fleet sales are expected to reach 1.55 million units.
The month of June this year had 27 selling days, one more than last year. Sales dropped 0.5 percent from June 2006 when adjusted for this one-day difference.
Jesse Toprak, the Executive Director of Industry Analysis for Edmunds.com, said that one must remember that last June was one of the best sales months of the year for some automakers, and was particularly disappointing for others. He said this would help to understand the year-over-year comparisons of sales for each automaker for the month of June. Automakers seem to have achieved June sales at more typical and sustainable levels rather than the dramatic highs and lows of June 2006.
Certain market segments appeared flourishing in June while industry sales may be relatively flat. Traffic patterns on the Edmunds.com Web site suggest that the crossover segment is poised for a huge growth in the next several weeks. Research of crossover vehicles increased 67 percent year over year, reflecting a flow in the number of consumers who are likely to buy crossover vehicles within the next six weeks.
Meanwhile, Michelle Krebs, Senior Editor of Edmunds’ AutoObserver.com commented that the crossover is such a smart idea because it is the station wagon, the minivan, and the SUV of this decade. She added that activity within the segment also indicates how lots of new products can induce interest.
Edmunds.com Analyst Leah Lesch stated that research of large trucks increased 21 percent compared to June 2006, despite flying gas prices, which can likely be attributed to the segment’s new products and increased incentives spending. On the other hand, she said that research of midsize and large SUVs was down 22 percent and 13 percent, respectively, implying a drop in consumer demand and potentially inactive sales in the coming weeks. She further said that automakers might boost incentives in those segments to attract buyers.
Chrysler, Ford and General Motors domestic nameplates’ combined monthly U.S. market share is estimated to be 53.6 percent in June 2007, a 57.4 percent drop from June 2006 and up from 52.8 percent in May 2007.
Edmunds.com foresees that Chrysler will reach sales of 205,000 units in June 2007, marking a 10 percent increase compared to June 2006. Such sales figure would result in a new car market share of 13.2 percent for Chrysler in June 2007, which is a 12.4 percent increase from June 2006 and a 12.8 percent increase from May 2007.
Edmunds.com estimates that Ford will sell 244,000 vehicles in June 2007, marking a 7.6 percent drop compared to June 2006. Such sales figure would result in a market share of 15.8 percent of new car sales in June 2007 for Ford, which is a 17.7 percent decrease from June 2006 and a 16.1 percent decrease from May 2007.
Edmunds.com predicts GMC Yukon parts manufacturer General Motors will reach sales of 381,000 units in June 2007, a 6.7 percent decrease compared to June 2006. As to new vehicle sales in June 2007, GM’s market share is expected to fall at 24.6 percent, down from 27.3 percent in June 2006 and up from 23.9 percent in May 2007.
According to Edmunds.com, the premier online resource for automotive information, June’s new vehicle sales including fleet sales are expected to reach 1.55 million units.
The month of June this year had 27 selling days, one more than last year. Sales dropped 0.5 percent from June 2006 when adjusted for this one-day difference.
Jesse Toprak, the Executive Director of Industry Analysis for Edmunds.com, said that one must remember that last June was one of the best sales months of the year for some automakers, and was particularly disappointing for others. He said this would help to understand the year-over-year comparisons of sales for each automaker for the month of June. Automakers seem to have achieved June sales at more typical and sustainable levels rather than the dramatic highs and lows of June 2006.
Certain market segments appeared flourishing in June while industry sales may be relatively flat. Traffic patterns on the Edmunds.com Web site suggest that the crossover segment is poised for a huge growth in the next several weeks. Research of crossover vehicles increased 67 percent year over year, reflecting a flow in the number of consumers who are likely to buy crossover vehicles within the next six weeks.
Meanwhile, Michelle Krebs, Senior Editor of Edmunds’ AutoObserver.com commented that the crossover is such a smart idea because it is the station wagon, the minivan, and the SUV of this decade. She added that activity within the segment also indicates how lots of new products can induce interest.
Edmunds.com Analyst Leah Lesch stated that research of large trucks increased 21 percent compared to June 2006, despite flying gas prices, which can likely be attributed to the segment’s new products and increased incentives spending. On the other hand, she said that research of midsize and large SUVs was down 22 percent and 13 percent, respectively, implying a drop in consumer demand and potentially inactive sales in the coming weeks. She further said that automakers might boost incentives in those segments to attract buyers.
Chrysler, Ford and General Motors domestic nameplates’ combined monthly U.S. market share is estimated to be 53.6 percent in June 2007, a 57.4 percent drop from June 2006 and up from 52.8 percent in May 2007.
Edmunds.com foresees that Chrysler will reach sales of 205,000 units in June 2007, marking a 10 percent increase compared to June 2006. Such sales figure would result in a new car market share of 13.2 percent for Chrysler in June 2007, which is a 12.4 percent increase from June 2006 and a 12.8 percent increase from May 2007.
Edmunds.com estimates that Ford will sell 244,000 vehicles in June 2007, marking a 7.6 percent drop compared to June 2006. Such sales figure would result in a market share of 15.8 percent of new car sales in June 2007 for Ford, which is a 17.7 percent decrease from June 2006 and a 16.1 percent decrease from May 2007.
Edmunds.com predicts GMC Yukon parts manufacturer General Motors will reach sales of 381,000 units in June 2007, a 6.7 percent decrease compared to June 2006. As to new vehicle sales in June 2007, GM’s market share is expected to fall at 24.6 percent, down from 27.3 percent in June 2006 and up from 23.9 percent in May 2007.
Gregg Hall asked:
With the rise in bankruptcies, repossessions, and general bad credit in the United States it has given birth to a whole new segment of the car business that is designed specifically to prey upon these types of people. That’s right I said prey upon. If you see slogans like “Credit Doctor” or “We Finance Anyone” run away! Well, at least be careful. Dealerships have learned over time that people who know they have credit problems will not argue or haggle as much as someone who does not have credit problems.
This is why every major automotive dealership now has a bad credit department. They have developed special sales techniques and they have fulltime “credit doctors” to work with people who have or even think they have bad credit. They advertise in the newspaper and on the radio that the credit doctor will help you fix your credit. You’ve heard the ads, “Good Credit, Bad Credit, No Credit, if you have a job and $99 down we can get you financed!”
The industry has now evolved to the point where they actually have establishments that exist solely to cater to the bad credit customer. They promote themselves as if they are doing the public some big favor but unfortunately this is far from the case. These dealers exist to make as much as they can off of people who are already in financial trouble.
The way these new dealerships operate is that they have sub par vehicles that a conventional dealership will not sell and they have in house financing as well as aggressive venture capitalist financing that enables them to command huge profits and charge outrageous interest rates.
Whether or not it is a dealership with a “credit doctor” department or a stand alone full time bad credit dealership they work in the same way. They seek to get the maximum amount of profit that they possible can from you by maxing out the profit in the car, getting you to borrow from a credit card, whatever it takes to increase the profit and then on top of that they will charge whatever your state maximum credit rate is which could be 28% or more. By the time it is all said and done you may pay $15,000 for a $5,000 car!
This is the absolute worst that the automotive industry has to offer, but until legislators step in and do something about it the secondary finance business will remain in place.
With the rise in bankruptcies, repossessions, and general bad credit in the United States it has given birth to a whole new segment of the car business that is designed specifically to prey upon these types of people. That’s right I said prey upon. If you see slogans like “Credit Doctor” or “We Finance Anyone” run away! Well, at least be careful. Dealerships have learned over time that people who know they have credit problems will not argue or haggle as much as someone who does not have credit problems.
This is why every major automotive dealership now has a bad credit department. They have developed special sales techniques and they have fulltime “credit doctors” to work with people who have or even think they have bad credit. They advertise in the newspaper and on the radio that the credit doctor will help you fix your credit. You’ve heard the ads, “Good Credit, Bad Credit, No Credit, if you have a job and $99 down we can get you financed!”
The industry has now evolved to the point where they actually have establishments that exist solely to cater to the bad credit customer. They promote themselves as if they are doing the public some big favor but unfortunately this is far from the case. These dealers exist to make as much as they can off of people who are already in financial trouble.
The way these new dealerships operate is that they have sub par vehicles that a conventional dealership will not sell and they have in house financing as well as aggressive venture capitalist financing that enables them to command huge profits and charge outrageous interest rates.
Whether or not it is a dealership with a “credit doctor” department or a stand alone full time bad credit dealership they work in the same way. They seek to get the maximum amount of profit that they possible can from you by maxing out the profit in the car, getting you to borrow from a credit card, whatever it takes to increase the profit and then on top of that they will charge whatever your state maximum credit rate is which could be 28% or more. By the time it is all said and done you may pay $15,000 for a $5,000 car!
This is the absolute worst that the automotive industry has to offer, but until legislators step in and do something about it the secondary finance business will remain in place.