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Discontinued car brands hold value in used car market

07/25/2010 by

MyCarlady was recently quoted in an article in SFGATE.com written by Michael Sanibel for Investorpedia, regarding the concern surrounding purchasing a discontinued or “dead” car brand. Discontinued car brands are holding value in used car market today follow-up this with the latest used car values in the marketplace under $10,000.00

The opriginal article came on the heals of the announcement Saturn, Pontiac, Hummer (all GM products) Durango, Aspen and PT Cruiser (all Chrysler/Dodge models) and others were scheduled to leave the US market.

The follow-up to this discussion of whether these discontinued cars were a good purchase idea became a debate most dealers would question from the “resale” value and the concern of the consumer regarding parts availability over the next 5-10 years. My observation was that most of the GM products used interchangeable parts, making this less of a concern than a SUZUKI (rumored to be pulling out gradually) who has no other shared manufacturing with US models.

Along the way used car prices have gone up steadily this year and the winners among the discontinued models are:

Saturn VUE, AURA and ION and the Hummer H2. Consumers are snapping these up at ABOVE average prices regardless of the “dead” trend.
Not so for the Pontiac brand, where G6 and G8′s are off-price by as much as 40% .
Used Chrysler Aspen, Jeep Commander and Dodge Durango’s are off 30%, as much a result of the history of bearing and axle issues (all these cars share the same assembly) than the mediocre demand for larger suv’s with poor fuel economy.
The PT Cruiser is still a solid used car deal, where a recent 2001 Limited (leather, moonroof) with 81k miles was offered for $4995.00 PT prices aren’t off-price in the market for used cars under $10,000.00 because they are coming of age and the sheer quantity of available PT Cruiser inventory is keeping prices a bargain regardless of the “discontinued” label.
Saab is off as much as 50% in many parts of the country, known for expensive repairs and limited service centers.
Volvo and Suzuki have been the subject of “graveyard” status for awhile, making their sales subject to severe scrutiny even though the cars are pretty reliable.
The Mercury line will suffer the same fate as Oldsmobile, more from the lack of resale to an aging demographic, parts are interchangeable with other Ford products so if you like the Grand Marquis or Mariner, don’t be shy, they’re prices are down about 20%, except for the GM LIMITED a steal at 5% off the market as these are still in demand in the used market.

If you are looking for one of these “StealsonWheels” check out my youtube website for videos and cars under $10000.00 : www.youtube.com/stealsonwheels

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If you need any other car buying, selling, trading or financing assistance on any new or used vehicle, please do not hesitate to email me at sarahlee@mycarlady.com or give me a call; 702-521-7546 I’m here to help you with any of your automotive needs and advice is free. Sarah Lee is an automotive executive with 20+ years of experience. She writes about Cars, and is a staunch consumer advocate on car related subjects. Her company: MY CARLADY is a car buyer’s service committed to getting you the best deal on your next new or pre-owned vehicle. You can reach her at CAR DEALS

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ASK MYCARLADY-Car dealer unwinds bait and switch

07/23/2010 by

QUESTION to ASK MYCARLADY about car dealers unwinding deals or possibly switching cars after the car is delivered…by telling the client the BANK denied the loan.

Dear Sarah Lee aka: MYCARLADY, I was wondering if you stay with us throughout the process? I don’t want to be in the situation were we get a car, and then the dealership decides for whatever reason that my daughters is are too big of a risk and “unwrap” the car, for lack of a better word. Thanks, V&J

ANSWER: Good question. When you hire MYCARLADY, I only deal with reputable dealers I know and have personal history and experience with. I make sure the dealers do all the CREDIT and LOAN approval, after you have driven and decided you want the car, but BEFORE it goes home.

If the dealer knows it’s a sale they will try NOT to sell it out from underneath you while the approval is going on. (Although that can happen when you have one car and 50 salespeople trying to make a living.)

However, I strongly recommend my clients NEVER take a car home before there is a FINAL approval from an actual BANK, not just the dealer’s “conditional approval”. I hate the bait n switch game some dealers do, just to keep you in THEIR car until something more appropriate comes along, but this is a terrible business practice and that is why I say, never take the car home without a bonafide approval, especially with new or challenged credit.

Now, that is presuming that all the information you provide on the credit application is verifiable and true. If the bank discovers an irregularity between what is on the physical application and the proof of income, and something you or your employer verifies, then That is considered bank fraud and they have every right to “unwind” the car deal.

This is the NUMBER 1 reason only the customer should fill out their credit application, including the INCOME and RENT spaces on the form and sign it and get a copy of the form BEFORE they leave the dealership.

In this way, the customer is protected from the DEALERSHIP submitting false information.

In my case, I stay on the deal to the end, to be sure “strange nonsense” DOESN’T happen!

—————————————————————————————

Sarah Lee is an automotive executive with 20+ years of experience. She writes about Cars, and is a staunch consumer advocate on car related subjects. Her company: MY CARLADY is a car buyer’s service committed to getting you the best deal on your next new or pre-owned vehicle. You can reach her at CAR DEALS

702.521.7546

Discontinued car brands hold value in used car market

The opriginal article came on the heals of the announcement Saturn, Pontiac, Hummer (all GM products) Durango, Aspen and PT Cruiser (all Chrysler/Dodge models) and others were scheduled to leave the US market.

Along the way used car prices have gone up steadily this year and the winners among the discontinued models are:

Saturn VUE, AURA and ION and the Hummer H2. Consumers are snapping these up at ABOVE average prices regardless of the “dead” trend.

Not so for the Pontiac brand, where G6 and G8′s are off-price by as much as 40% .

Used Chrysler Aspen, Jeep Commander and Dodge Durango’s are off 30%, as much a result of the history of bearing and axle issues (all these cars share the same assembly) than the mediocre demand for larger suv’s with poor fuel economy.

Saab is off as much as 50% in many parts of the country, known for expensive repairs and limited service centers.

Volvo and Suzuki have been the subject of “graveyard” status for awhile, making their sales subject to severe scrutiny even though the cars are pretty reliable.

If you are looking for one of these “StealsonWheels” check out my youtube website for videos and cars under $10000.00 : www.youtube.com/stealsonwheels

ASK MYCARLADY-Car dealer unwinds bait and switch

QUESTION to ASK MYCARLADY about car dealers unwinding deals or possibly switching cars after the car is delivered…by telling the client the BANK denied the loan.

ANSWER: Good question. When you hire MYCARLADY, I only deal with reputable dealers I know and have personal history and experience with. I make sure the dealers do all the CREDIT and LOAN approval, after you have driven and decided you want the car, but BEFORE it goes home.

If the dealer knows it’s a sale they will try NOT to sell it out from underneath you while the approval is going on. (Although that can happen when you have one car and 50 salespeople trying to make a living.)

This is the NUMBER 1 reason only the customer should fill out their credit application, including the INCOME and RENT spaces on the form and sign it and get a copy of the form BEFORE they leave the dealership.

In this way, the customer is protected from the DEALERSHIP submitting false information.

In my case, I stay on the deal to the end, to be sure “strange nonsense” DOESN’T happen!

More From MyCarlady^®

Available Cars

Download Free MyCarlady Podcasts:

702.521.7546

Discontinued car brands hold value in used car market

The opriginal article came on the heals of the announcement Saturn, Pontiac, Hummer (all GM products) Durango, Aspen and PT Cruiser (all Chrysler/Dodge models) and others were scheduled to leave the US market.

Along the way used car prices have gone up steadily this year and the winners among the discontinued models are:

Saturn VUE, AURA and ION and the Hummer H2. Consumers are snapping these up at ABOVE average prices regardless of the “dead” trend.

Not so for the Pontiac brand, where G6 and G8′s are off-price by as much as 40% .

Used Chrysler Aspen, Jeep Commander and Dodge Durango’s are off 30%, as much a result of the history of bearing and axle issues (all these cars share the same assembly) than the mediocre demand for larger suv’s with poor fuel economy.

Saab is off as much as 50% in many parts of the country, known for expensive repairs and limited service centers.

Volvo and Suzuki have been the subject of “graveyard” status for awhile, making their sales subject to severe scrutiny even though the cars are pretty reliable.

If you are looking for one of these “StealsonWheels” check out my youtube website for videos and cars under $10000.00 : www.youtube.com/stealsonwheels

ASK MYCARLADY-Car dealer unwinds bait and switch

QUESTION to ASK MYCARLADY about car dealers unwinding deals or possibly switching cars after the car is delivered…by telling the client the BANK denied the loan.

ANSWER: Good question. When you hire MYCARLADY, I only deal with reputable dealers I know and have personal history and experience with. I make sure the dealers do all the CREDIT and LOAN approval, after you have driven and decided you want the car, but BEFORE it goes home.

If the dealer knows it’s a sale they will try NOT to sell it out from underneath you while the approval is going on. (Although that can happen when you have one car and 50 salespeople trying to make a living.)

This is the NUMBER 1 reason only the customer should fill out their credit application, including the INCOME and RENT spaces on the form and sign it and get a copy of the form BEFORE they leave the dealership.

In this way, the customer is protected from the DEALERSHIP submitting false information.

In my case, I stay on the deal to the end, to be sure “strange nonsense” DOESN’T happen!

More From MyCarlady®

Available Cars

Download Free MyCarlady Podcasts:

More From MyCarlady^®