Sometimes the Government Has to Protect Consumers

“We will pay off your loan, no matter what you owe!”

Recently the FTC came down against automobile dealers guilty of this misleading and false advertising gimmick.  It’s about time!  Too many consumers, particularly our younger ones, in their eagerness to get the best deal, fall for this ploy.  In this case all the dealer does is deduct the amount owed to the lender for the trade-in from the appraised value to get a NET trade-in value.  In the case that more is owed on the car than its current value, the dealer simply adds the overage to the amount being financed.

Unfortunately, this is only one of several similarly misleading claims that SOME auto dealers continue to make.  Here are some of the other “really hard to believe claims”:

“We finance everyone.”  — Okay, just exactly how is that accomplished, especially if the customer doesn’t have a job, any money to put down or has a really bad credit score?

“We have the lowest price of anyone!” — In this case, how exactly does this dealer know that his price is lower than anyone else’s? And do they beat the deal consistently on every deal?  If it is true, how are there so many dealers that claim this for their dealership?

These are but a few of the many wild claims some car dealers throw out to the public. I hope all of you will investigate further if someone at a dealership wows you with a promise that just seems too good to be true. It usually is (too good to be true)!

Sometimes the Government does need to regulate in order to protect the consumer!

This May Be A Great Time To Sell Your Car

While we love to take in trades on new vehicles and also to buy your unwanted car or truck outright, some folks still prefer to sell their own.

According to a story on SmartMoney Blogs, this may be your best time to sell. After a number of months of dropping used vehicle prices, they did rise in March and look like a good chance to continue the upward trend!

Many consumers are feeling better about the economy, leading to a renewed interest in replacing their car. However there is a lingering fear about jobs that is steering them away from new cars to Certified Pre-Owned. There is also a large percentage of new car buyers who are considering a used car for the very first time.

On the other hand, many people who have sold vehicles on their own are getting more wary of opening their privacy to strangers and are deciding to trade the vehicle into a dealer for safety’s sake. If you have a specialty vehicle with historic or performance value, a dealer might be the best way to get the top dollar back as well. There are a few dealers in every market which specialize in classic and high performance vehicles. Make sure you check with them first!

A Little Strategy to Avoid High Gas Costs

As gas prices continue to go up and up, consumers are looking for ways to stretch their fuel budget!  Here are some ideas I have for you……..

First:  Buying hybrid is not the best way to save money!  It may be the best way to impress your friends that you are “Green” , but it can take 15 years or longer to break even versus a fuel efficient non-hybrid version of the same make.  The cost to purchase is currently too high to save money with hybrids.

Second:  Currently there are many rebates and zero to low interest loans available from the manufacturers (Ford is among the best) on most of the makes INCLUDING fuel efficient vehicles such as Focus and Fusion!  Most of these go at least thru the end of March and several extend well into April.  As gas continues to rise, these rebates will probably switch over to the less fuel efficient vehicles of each car line to stimulate traffic for those models.  Take advantage of the rebates on the more fuel efficient vehicles while THEY LAST!

Third:  The Spring market has just begun, so selection of all vehicles is excellent at the present time.  However, the last week has seen a LARGE volume of shoppers (and buyers) which eventually will reduce the selection from which you will be able to choose.  Now is a great time to buy!

Finally, if you have a less fuel efficient model you are trying to unload, the time to trade is now, before a glut of less fuel efficient vehicles hit the dealers lots.

Timing is everything as we all know!  Now is the time to take advantage of the manufacturer rebates and low interest rates on the desirable fuel efficient vehicles.  There are good selections of most every car and truck right now.  And finally the appraisers have not gotten too leery of gas guzzlers being traded in……