Subprime Auto Loans Show Increasing Signs of Trouble

We thankfully seem to be coming out of some of the economic challenges brought on by the pandemic, but a new crop of financial hardships is on the horizon. Subprime auto loans, which are issued to people with lower credit scores, are falling into past-due status at an alarming rate, reaching the highest rates of borrowers behind on loans in almost 30 years.

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QOTD: Does J.D. Power Matter to Your Car-Buying Experience?

About a week and a half ago, we asked you how the automotive media influences your car-buying process. Now we're going to ask you about J.D. Power, specifically.

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QOTD: How Do You Deal With the Dealer?

We spend a lot of time here at TTAC covering dealer markups, inventory shortages, and so on.

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QOTD: How Much Would YOU Pay Over MSRP?

Matt's story about car buyers being willing to pay a LOT over MSRP begs the question: How much over MSRP would YOU pay if you were buying a new car?

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Um, What? Survey Claims People Happier With Modern Car Buying Experience

A new survey from Cox Automotive is suggesting that people are relatively pleased with their trips to the dealership these days — at least compared to the last few years. According to the team that’s been crunching the numbers over at Automotive News, “Buyer satisfaction with the shopping experience from the research stage through delivery dipped to 66 percent in 2021.” Back in 2020, respondents claimed they were happy 72 percent of the time. But in 2019 Cox was only getting 60 percent of shoppers to say they had an okay time buying a vehicle.

The uptick in 2020 is obvious. Showrooms were devoid of customers, production shortfalls hadn’t yet become the norm, and dealers were selling just about everything at a discount — keeping prices low until 2021 sent them into the stratosphere. However, the outlet still framed it as a win against 2019, suggesting that consumers are more satisfied with their shopping experience than before the pandemic. It also claimed that people who purchased vehicles online, the no-haggle alternative to going to a dealership to argue in a small room, tended to be happier overall.

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Where Your Author Encounters a Sleazy 1980s Car Dealership in 2020

We’re not talking about my Golf Sportwagen purchase today; they were slow to negotiate, but not sleazy. The topic at hand is what happened this past weekend when I helped my grandmother purchase a used car.

It turns out that at some dealers, even though the calendar says 2020, sales practices are more in line with 1980.

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Returning Lessees Should Be Prepared for a Price Shock

While U.S. new vehicle sales are expected to drop in 2019, average transaction prices and interest rates are climbing fast. That spells a potential bad day ahead for drivers reaching the end of their lease, Edmunds warns.

Those looking to get behind the wheel of a new sedan in the coming year might have to spend some quality time with a calculator.

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Bark's Bites: You've Got a Target on Your Back, Mr. Car Shopper

It’s happened to all of us, right? You’re reading a review on a website like TheTruthAboutCars.com, and then you decide to go browsing for some cars online at a dealer’s website, perhaps casually looking for a weekend toy or a new family hauler. Since you’re like most car shoppers, 95 percent of whom don’t take action the first time they visit a car dealer’s website, you leave the site and go about your day on the internet.

But when you go to ESPN.com to check the latest World Cup results (Viva Colombia!), there’s an ad for that same car you were just looking at. Whoa, that’s a little creepy, right? And then, the next day, you get an email from another dealership — you never even went to that website! How did they get your information?

Car dealers are getting more sophisticated than ever when trying to get your attention online. Luckily, your old friend Bark is here to tell you how they do it.

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Study Claims Car Shoppers Don't Care About Swelling Fuel Prices

Average fuel prices in the United States managed to triple between the years of 1999 and and 2012. While we’ve been fortunate enough to enjoy relatively low prices at the pump over the last few years, analysts predict the current spike will continue through the summer.

However, a recent study from Kelley Blue Book suggests most new-vehicle buyers don’t give a flip about it, with consumers claiming the price surge won’t influence their vehicle purchasing decisions in the slightest.

The assumption that the cost of gas will stabilize in the fall could play a factor for some, but many respondents say the price per gallon would have to reach $4 before they became rattled enough to consider swapping to a more economical vehicle.

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Buying an EV? Expect a Crapshoot of an Experience at the Dealer, Study Finds

You’ve decided to take the plunge. To lay down significant cash for a personal vehicle that burns no gasoline and isn’t a bicycle. Unlike the plethora of dino juice-sipping models competing for your attention, your choice of electric vehicles is still modest, albeit growing, and comes with a list of ownership concerns never mentioned around traditional cars.

Range, charging times, home connections, and the impact of temperature on the battery pack (and its longevity) are just some of the questions a salesman might be asked about. Pricing is easy.

This past fall, research firm Ipsos RDA Automotive sent secret shoppers into 141 EV-selling dealerships in the U.S., where the spies feigned interest in purchasing one of 11 fully electric models. The experience was a wildly mixed bag. It’s not entirely surprising, but in many showrooms dominated by gas-powered cars and SUVs, the sale the dealer employee attempted to close was not for the EV the secret shopper came in to buy.

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There's More Than Just Booze in Ex-Honda VP John Mendel's Future

After retiring on April 1 following 13 years at American Honda, former executive vice president John Mendel isn’t fading quietly into obscurity.

Sure, he plans to form a distillery business with his sons — who doesn’t? — but retired auto executives rarely take both feet out of their former world. So, it doesn’t come as a shock that Mendel is poised to join the board of directors at the car shopping website TrueCar.

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Ask Bark Brief: I've Got The Power (Or Do I?)

TJ writes:

Greetings Bark,

With a growing family, it’s about time for me to move out of my 2007 Frontier Crew Cab into something more family friendly. The crew cab has been great transporting our toddler, but we’re planning on having another one, and I don’t think the backseat will work for two little ones.

After a long search that has included newer midsize pickups without much more inside room, full sized cars (namely Impala, LaCrosse and Azera — nice car, horrible seats), I think I’ve settled on a V6 Accord. I have my grandfather’s old C10 for pick-up stuff once I get it running again, and my father is interested in buying my Frontier, so trade-in won’t be a problem.

I’ve test driven the Accord twice, and the dealer is absolutely pressure-free; which my wife and I appreciate. BUT…the dealer only has three V6s in stock — all standard, easy-sell black or silver. I prefer Honda’s Obsidian Blue, and the salesman said getting one shouldn’t be a problem. Am I setting myself up to get taken if I email him requesting the blue one?

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So A Trump Win Means You're Moving To Canada? Here's What You Need To Know, Automotively

Threatening to move isn’t new.

16 years ago, legions of American citizens promised to leave the United States if Republican George W. Bush beat Democrat Al Gore. While there’s evidence that suggests emigration from the United States to Canada occurred at an accelerated rate during Bush’s two terms in the White House, it was more likely tied to the state of the economy overall than differences in personal politics.

But that didn’t stop Americans — not just celebrities, but Americans en masse — from shutting down Citizen And Immigration Canada’s website with excessive traffic on the night of 2016’s Trump electoral victory earlier this week.

Had the website operated normally, you would have discovered that moving to Canada isn’t easy. Yet your desire to relocate will not be sated by a move to sunny SoCal or the Florida Keys. You’re determined to live in Cape Breton, or Portage la Prairie, or Trois-Rivières. And in the automotive sphere, there are some things you really need to know.

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How Salespeople Stereotype New Car Buyers

The r/askcarsales subreddit is a great source of information about car buying and the inner workings of dealerships. Flaired users are verified to be actual salespeople, which makes for highly qualified car buying advice. They’ve helped a great number of people save money and help calm the adversarial nature of the buyer-seller relationship.

Buying a car is a big decision. We all like to think that we are unique in the choices we make and how we go about negotiating a sale, but buyer stereotypes do exist. When one subreddit user posted a question about typical buyers for each brand, many of the salespeople jumped in to offer their opinion on the type of buyer that shops each brand. Some of the opinions might cross into racial profiling territory, but many are just hard truths about the customer base each brand has built up.

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Ownership Update: Time To Buy a New (To Me) Car

Rather than begin in media res, let’s recap:

I sold my first Porsche 911 (a “993” as they call it, which means it was built sometime from 1995 to 1998 and was the last version of the 911 to feature air-cooling; mine was a 1996) to a nice guy in Minnesota.

The very next day, my second Porsche 911 (a “997,” which means it was built between 2005 and 2012 and was intended to fix the ugly looks and perceived dubious build quality of its immediate forebear — the “996” 911, which was the all-new car that succeeded the above-mentioned 993; my 997 was a 2007 example of the hardcore GT3 variant) met its end after a teenaged driver failed to yield immediately in front of me, resulting in a collision.

With no means of transportation beyond the shared mobility lifestyle or MARTA, it was time to start shopping for another car. I didn’t really have a defined budget, so I considered cars across a fairly wide price range.

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  • Syke Kinda liked the '57, hated the '58. Then again, I hated the entire '58 GM line except for the Chevrolet. Which I liked better than the '57's. Still remember dad's '58 Impala hardtop, in the silver blue that was used as the main advertising color.
  • Dartdude The bottom line is that in the new America coming the elites don't want you and me to own cars. They are going to make building cars so expensive that the will only be for the very rich and connected. You will eat bugs and ride the bus and live in a 500sq-ft. apartment and like it. HUD wants to quit giving federal for any development for single family homes and don't be surprised that FHA aren't going to give loans for single family homes in the very near future.
  • Ravenuer The rear view of the Eldo coupe makes it look fat!
  • FreedMike This is before Cadillac styling went full scale nutty...and not particularly attractive, in my opinion.
  • JTiberius1701 Middle of April here in NE Ohio. And that can still be shaky. Also on my Fiesta ST, I use Michelin Pilot Sport A/S tires for the winter and Bridgestone Potenza for my summer tires. No issues at all.