1. My Carlady News from the Street!

    December 16, 2008 by mycarlady
    Miles of Smiles Club and News from the Street…

    My predictions for 2009 and the Automakers bailout.
     
    The Detroit Big 3 will consolidate in 2009. Watch for Mercury to go away and Lincoln to become the luxury division of Ford, to be relocated to Ford showrooms. Ford dumps Saab. Chrysler will become Dodge-Jeep and maybe the 300, if any car remains. GMC will dump Pontiac, Saturn, leaving Chevy and GMC trucks to battle for position. Some cars will become collectibles and others will be obsolete. Which ones? That’s why you have me… Carlady@cox.net  
    Leasing: It’s not dead, but it’s seriously curtailed to specific cars in each automaker’s portfolio. Nissan: Altima, Toyota: Camry, Lexus RX350 and ES350, Honda Accord and Civic, Infiniti GS37, Audi A4, VW Jetta. These are the hot ones right now.
     
    USED TRUCK DEALS:  If you need a good work truck or Caliber these are being made available through one of my Miles of Smiles faithful friends.  If you are interetsed in making an offer email me: sarahlee@mycarlady.com I’ll send you pictures.

    1999 Toyota Tacoma 4X4 extracab SR5 with auto 184,104 miles 3.4 liter v-6
    2001 Ford F-150 4X4 supercrew XLT 155,236 miles 5.4 liter v-8
    2003 Ford F-250 superduty extracab XL, 2wd, auto, 5.4 liter v-8 gas, 82,000 miles
    2004 Ford F-150 extracab longbed XL, 2wd, auto, 5.4 liter v-8 gas, 95,900 miles
    2007 Dodge Caliber, 2.4 liter with CVT, 33,644 miles awesome condition! 
    2005 F-150 extracab 4X4 FX4 flareside, 64,200 miles, 5.4 liter v-8

    I still have the 2004 BMW convertible too! It would look great under the mistletoe or HanukCAR lights.

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    AUTO CREDIT ADVISORY 
    The auto industry is not making getting a car loan easy. Chrysler, Ford and GMC are not making loans to small business or consumers unless the buyer has 30-40% cash down and over 700 AUTO FICO scores. Chase, BofA, CapitalOne and local credit unions are picking up the slack, but VERY selectively. If there is ANYTHING derogatory on the credit bureau, you can forget a great rate. A great rate today is 6.99% for 72 mos. available only to those with 720+ Auto FICO scores. The special incentive rates offered by the car factories are only available to the over 700 FICO owners and you must have 20% cash down to cover tax and fees. Any negative equity from a trade must be covered with additonal cash down. In other words, the bank is only buying the wholesale value of the car AFTER rebate or 80-90% of the wholesale value under the most conservative cases.  Those of you with two car loans in your name, co-signed or otherwise, can expect to see a one person, one driver policy going forward.

    Second chance lenders have all but disappeared, leaving one or two demanding 25% interest and 3000 cash down. If you are currently in a bankruptcy forget the car loan until you are discharged. Those with discharged Bankruptcies can expect a min. of a 22% interest rate, 2000.00 cash down and a cap of $10,000.00 on the vehicle value.

    If you have low secured but high revolving debt (credit cards) of 40% or more, be prepared for a higher interest rate. CONSIDER THIS: The next wave of car loans to those with bad auto loan history or high revolving debt will be GPS moniters and shut-off devices in the cars. If the loan is late, the car won’t start. If you’re a month down, the car is ”located” and repo’d.  Welcome to my world. If you want to know how you can clean up your credit report and raise your FICO score, call me, I’ve got a great tool with a 100% money-back guarantee.  carlady@cox.net Subject line: CREDIT REPORT FIX
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    2009 Toyota Venza has arrived.

     
    2009toyotavenza 

    This compact crossover fits between the Matrix and the Rav. Slightly larger than the Dodge Caliber, this is a five seater packed with features and upgrades usually available in fancier models. No thrid row seat or tow capacity, but it drives like a Toyota, smooth and reliable. You have to like the nose on it. Available as a 4 and 6cyl, the price STARTS in the $25K range but quickly runs to $30K with leather. I’m not sure I can justify that price for the size compared to other Toyota/import products. You be the judge. Watch for my Venza car review on YouTube or my blog: www.everythingcars.wordpress.com later this week.

    Category: AUTOMOTIVE, DODGE, GMC
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  2. Will Chrysler, Dodge or Jeep survive?

    November 11, 2008 by mycarlady

    Nov. 10, 2008- Las Vegas 

    2009 Dodge Challenger
    2009 Dodge Challenger

     The biggest question a GM, Ford, Chevrolet, Pontiac, Buick, Lincoln, Mercury, Dodge, Chrysler or Jeep owner has to ask themselves these days is “What is the value of my car if the manufacturer goes out of business?”  That question has haunted car buyers trying to decide if the rebates and low interest rates are enough to over-come the potential depreciation of a product not around tomorrow. Dealers and Auto reps shudder to think that the words “merger” or “bankruptcy” will further frighten potential customers away. Now, tomorrow may be FAR, FAR, away, for the demise of Ford, General Motors or Chrysler, yet reports indicate that GM and Ford are crying on the door-step of the US treasury with balance sheets suggesting insolvency is just a few months away.  Chrysler, privately held by Cerberus, has some cash, (which GM seriously entertained as the means to a bailout for both companies in a merger) which could get them through the first quarter of next year.  However, the real question you have to ask yourself is, should these companies survive? If survival is required, what car lines should be kept and which deserve the ax?

    General Motors, Pontiac, Chevrolet, Buick, GMC truck, Lincoln, Mercury, I’m not sure?  Chrysler, having dumped Plymouth and at one time paring duplicate platforms within CHrysler, Dodge and Jeep, recently unveiled the Nitro and Jeep Liberty, Durango and Aspen and still share the Town and Country/Grand Caravan box with Guess who?) Volkswagon!  Stow ‘n Go, the only piece of imagination left to make a difference to consumers, and you can now have it with a german accent.

    Without creative design, technological ingenuity and reasonable cost/value, the drive to buy a new car is un-inspiring. That leaves the customer who has to buy, overwhelmed with so many often redundant choices, he/she wants to run and hide. Which brings up the second issue of begging for money by the Big 3. Without money to loan on these $25,000 average car cost today, the consumer is left to beg for financing in a market where lines of credit have all but disappeared. If the FICO Auto score falls below 680, look out IRA or company 401k, this may be the only account left to draw on.

    The only hope in all of this auto massacre is the eventual rise in value of the true American muscle cars, the soon to be obsolete gas hogs and seven passenger SUV, coming to an auto museum or car auction near you in the next fifty years.  SO if you can justify the purchase and have a garage to store your “investment”, enjoy the ride in a 2009 Dodge Challenger, 2007 Chrysler Crossfire, 2009 Ford Saleen Mustang or 2009 Chevy Corvette Z06.

    You may need it for your retirement.

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    Sarah Lee writes on the automotive industry. She offers great no hassle deals and expert opinion on a variety of cars. www.mycarlady.com

     

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    Category: AUTOMOTIVE, CARS I OWN, CHRYSLER, DODGE, GMC, women car buyers
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