As we speculated last week, Tesla has put a new face on its Model S, doing away with the faux grille designed to trick people into thinking there was something combusting under the hood.
The new front end is a corporate amalgam of the both the recently unveiled Model 3 sedan and Model X SUV. Tesla apparently thinks that society has progressed enough to accept the disappearance of an air-sucking mouth at the front of a car.
It’s just the title of a recent Charlie Hunter album, but it says a lot about life in post-2008 America: Not Getting Behind Is The New Getting Ahead.
Here’s one example: According to Business Insider, the average middle-class family can no longer afford the average new car. Is that true? And if it is true, how and why did that happen, and what can be done to fix this sad state of affairs?
Light vehicle sales haven’t peaked in the U.S., but the way they’re being sold is putting automakers in some financial peril.
That warning was delivered by Thomas King, vice-president of the Power Information Network, ahead of this weekend’s National Automobile Dealers Association, Wards Auto reports.
Speaking at the J.D. Power Automotive Summit, King said retail sales of cars and light trucks will rise this year and next, even after a very healthy 2015. Last year saw 14.2 million units reach customers, with volume projected to hit 14.7 million in 2017.
Despite moving more vehicles and rising MRSPs, automakers risk forgoing the financial benefits due to incentives and a growing trend towards leasing.
If you live in California and your demographics are right, your electric car dream is within reach. Yes, even you, baristas and struggling actors!
The website Leasehackr stumbled upon a killer deal for lower-income Californians (assuming they live near charging stations), and spelled out how leftover 2015 Ford Focus Electrics can be leased for essentially nothing.
If your personal life aligns with Ford’s customer incentives and California’s revamped EV rebate program, it can be done.
A wave of older vehicles is poised to flood Toyota dealer lots, but the automaker is confident it has just the plan to deal with it — pre-owned leasing.
Toyota is certain that adding a leasing option to its certified pre-owned inventory would boost CPO sales and clear lots in the face of a growing compliment of three-year-old product, Automotive News reports.
The plan has already been quietly rolled out in the U.S. Northeast, but a national strategy should be in place by the end of April, dependent on training in each dealer region. The option would allow a reduced commitment for buyers who don’t want to finance the full cost of a pre-owned vehicle. (Read More…)
I have a multi-part question and I’m interested to get your insight.
Part one: To CPO or not. After decades of driving Fords, I’ve decided to treat myself with a sporty German car. A BMW 328i seems like just the ticket. I’m looking at a 2015 model year dealer loaner with 4,000 miles, and it’s available with $8,000 off the $53,000 sticker price. The warranty has been reset, so it’s effectively a full, new-car warranty. With no major changes between 2015 and 2016, this seems like a no-brainer.
Part two: To lease or not. A BMW with a turbo and automatic transmission gives me the willies. I like the idea of turning it back in after three years and washing my hands of any long-term maintenance issues (or having to unload it myself). BMW’s lease interest rate is 4.375 percent, which seems high. The residual factor is 59 percent of MSRP.
Part three: To pay up-front or not. I hate paying monthly for stuff. I’m inclined to just pay the entirety of the lease payments up front. BMW will cut the rate by a little in this case, to 4.125-percent on the residual amount. It still seems high relative to the 0-percent offers on domestic vehicles. Are there any gotchas to paying up front?
I’ve never leased before. I’ve always been a “pay cash” kind of guy. But the lease on the low-mileage CPO with no major changes seems like a slam-dunk over a new car similarly equipped. Am I missing something?
Every once in awhile, somebody writes in to Ask Bark with a question that makes me check my own bank account to see if I can afford my own recommendation. Today is one of those times. Sit back and relax while you read about our friend’s quest for a more powerful grocery-getter, and then see if you share in my envy.
I am currently leasing a 2014 Mazda6, and the lease will be ending in mid-July. I’m in my early 30s with two kids. One of them will be in a rear-facing child seat for the next year and a half, and the other is in a front-facing seat, so I need something that is big enough for daycare pickup, Costco runs and short trips. My wife has a Nissan Murano for when we need more space, and I have a motorcycle, which may soon be sold and replaced with an older Miata.
I work remotely, so I don’t commute on a daily basis, but I do a 2+ hour each way trip into the actual office every other week. I’ve owned a 2000 Ford Focus, 2006 Mazda3, and the 2014 Mazda6, so I would like something with a bit more power this time.
Imagine the following scenario: You’re a Buick salesman. An elderly woman comes into your showroom to inquire about a replacement for her Regal. You decide that she’s a great candidate for an Encore, and since you have some previous-year Encore stock you decide that she’s a great candidate for a 2015 Encore instead of the new model. There’s a $149/month lease deal available from GM Financial. What kind of deal do you make for this woman?
If your answer is, “I’d charge her over sticker for the vehicle, switch the lease company to make some back-end money, and add nearly a thousand dollars of profit in fees above that,” then you might just be the salesman that Buick GMC of Beachwood, OH needs.
My wife has a 2013 Prius with a total of 36,000 allowable miles over the 36 month lease through June 2016. The problem is she now drives more and is already at 37,500+ miles! At 0.25 cents per mile, it will add up quickly.
Should we just plan on buying the Prius from Toyota for 16,400 at the end of the lease term? Or should we take a negative equity hit today, cash out and buy a 2015/2016 Honda Accord Sport/EX? We could be looking at $4,000 in lease payment to roll into a new deal to get out of Prius. We kind of learned our lesson to not do a lease since now she drives a lot. (Read More…)
Two weeks ago, I wrote about the slings and arrows of car2go membership. A few members of the B&B took issue with my claim that car2go was the cheapest way to operate an automobile. One of them decided to do the math.