Tag: Used Cars

By on September 3, 2015

Used cars

Going to visit a dealer on a rainy day or the third Sunday after a holiday might not help you get a better deal on a used car, but tracking how long it’s been sitting on the lot may work in your favor. Aged inventory takes up valuable lot space while interest adds up every day motivating most dealers to drop the price to sell it quickly.

Most cars arrive on a dealer lot arrive from wholesale auctions or customer trade-in and are paid out from dealer funds or by a loan through floorplan financing. As with most loans, interest and fees are paid until the loan is satisfied for the floorplan. Each day of interest cuts into the potential profit for a vehicle so dealers try to move inventory as quickly as possible.

(Read More…)

By on August 3, 2015

east-brunswick-nj-jeep-dodge-chrysler-dealership-1024x768

Fiat Chrysler Automobile dealers won’t be able to sell cars without recall repair work or they risk losing their incentive money under a new agreement with the federal government, Automotive News is reporting.

The agreement was part of the sweeping package penalties imposed by the National Highway Traffic Safety Administration, including up to $105 million in fines. According to the consent agreement by the federal bureau and FCA, the company already asks dealers to complete recall work, but the new mandate would reinforce that existing policy.

In the United States, it’s illegal for a dealer to sell a new car without recall repair work, but no such law exists for used cars. A recent proposal in Congress to force used car dealers to complete open recall repair work was met with opposition.

(Read More…)

By on July 23, 2015

General Motors Renaissance Center HQ

General Motors disclosed in its quarterly Securities and Exchange Commission filing Thursday that the Federal Trade Commission is investigating the automaker for selling used cars under recall, the Detroit News is reporting.

According to the automaker, the FTC notified GM that it was investigating “certified pre-owned vehicle advertising where dealers had certified vehicles allegedly needing recall repairs.”

The filing acknowledges the investigation is connected with the 2014 recall of 2.59 million cars with faulty ignition switches that could turn the car off while driving, disabling its airbags. So far, 124 deaths have been linked to the defect.

(Read More…)

By on July 17, 2015

Zemanta Related Posts Thumbnail

Several times in the last few weeks I have had a friend come up to me and tell me that they bought a used car, there is some problem with it, and now they want to sue the dealer. And if not a lawsuit, then at least they want some sort of compensation, like a free replacement car.

I generally listen intently to their problem, and confirm that I’m understanding it, and make eye contact to show that I care, and then tell them something along the lines of the fact that this is the single stupidest thing I’ve ever heard in my entire life.

Here’s a newsflash for everyone out there who bought a used car with a problem: You bought your vehicle in as-is condition. This means you must accept it “as it is,” even if how it “is” is fitted with brake pads that are actually USB sticks. Even if its mirrors are sun visor mirrors taped on the mirror housings. Even if it is a Pontiac G6. You now own this car and you signed the papers saying so. The dealership held up its part of the obligation in selling you the car. Now you must hold up your part of the obligation in getting the thing the hell off the dealer’s lot.

(Read More…)

By on July 1, 2015

Tesla Model S Center Stage

The National Automobile Dealers Association new electric vehicle retention list released last week has a tasty little tidbit in its roundup of value retention rates.

Tesla’s Model S, which topped the 3-year value retention rate list for EVs in the new list, also sported a better value rate for most cars on a similar list released last year for all segments, including mid-size luxury cars. That includes BMW.

But the news may not be all good, all the time.

(Read More…)

By on May 12, 2015

Slasher Courtesy docurama.com

Movie director John Landis is probably best known for his 1978 comedy classic Animal House. I am such a fan of it that I recently made a pilgrimage to the Dexter Lake Club, the Oregon roadhouse used in the film where the frat boys partied during their road trip in a black suicide-door 1964 Lincoln Continental. (“Do you mind if we dance wif yo dates?”)

To folks in the retail automobile business Landis is better known for his lesser-known 2004 Independent Film Channel documentary Slasher, a movie that represents the most authentic cinematic depiction ever about selling cars. (Read More…)

By on May 6, 2015

2014 Buick Regal GS AWD Exterior-003

In a hurry to trade your new Buick Regal for something else? You’re not alone, as the sedan joins a handful of models traded-in after a year of ownership.

(Read More…)

By on March 24, 2015

103605_f93624f11fc1a244a63ac5be0ac46a8a

So, let me be clear: I have a very good, brand new car. I have no real need for a second car, no place to park a second car and no desire to take on a project. But god damn it, I want this.

(Read More…)

By on February 23, 2015

Rental Car Corridor - SeaTac International Airport

The next vehicle the TTAC Zaibatsu or the B&B rent could be safer if Congress heeds the call of the National Highway Traffic Safety Administration.

(Read More…)

By on January 16, 2015

1490885_10152128887728338_341274836_o

Please welcome Fil Cvetkovic to TTAC. Fil owns a manufacturing firm involved in automotive, aircraft and other industries – and has a long history with owning, repairing and giving up on obscure project cars. Fil will be reporting on used vehicle auctions, and likely picking up new projects for the ame time.

Being the new kid on the block at TTAC, I figured an appropriate place to start would be introducing myself. My name is Filip Cvetkovic, but many know me as Fil or… “Phil with an F.” More importantly, I have more or less dedicated my entire life to the pursuit of unicorns. No, not the mythical creature, I’m talking about the cars that are made of unobtanium. As of this moment, at the ripe young age of 25, I’ve owned 96 cars. Many of which were never even available to Canadians.

(Read More…)

Recent Comments

New Car Research

Get a Free Dealer Quote

Staff

  • Contributing Writers

  • Jack Baruth, United States
  • Bark M., United States
  • Chris Tonn, United States
  • Doug DeMuro, United States
  • Steven Lang, United States
  • Brendan McAleer, Canada
  • Vojta Dobes, Czech Republic
  • Matthias Gasnier, Australia
  • W. Christian 'Mental' Ward, United States
  • Cameron Aubernon, United States