Monthly Archives: August 2009

New management team may limit updates to used Jaguars in New Jersey

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Posted in Auto Industry News, Jaguar - DO NOT USE

Drivers of used Jaguars in New Jersey may have to wait a little bit before they start seeing model updates from the company: owner Tata Motors has secured private funding for Jaguar to prevent a government takeover.

Thanks in part to a £229 million pound, or more than $350 million, loan from the European Investment Bank, Jaguar remains in private hands, but both Land Rover and Jaguar still face struggles which could involve plant shutdowns and other steps, Jaguar Land Rover chief executive David Smith warned in a statement.

That will also include management tips for the luxury automaker from a team brought in by Tata Motors, the Indian parent company that manufactures one of the most inexpensive cars in the world, reported the Times in London.

While sources close to Tata told the newspaper that new model programs would not be cut, drivers of used Jaguars in New Jersey may not see very many examples of future Jaguars while the company attempts to lower the point at which it can turn a profit.

Used cars in New York may be better bet after CARS program non-payment

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Posted in Auto Industry News, Auto Loans & Financing News

Roughly 200 new car dealerships in the New York metropolitan area have stopped participating in the Cash for Clunkers program, which may make used cars in New York a more viable option for buyers looking for affordable options.

The initiative requires that dealers pay customers for turning in less fuel efficient vehicles and wait for the government to pay them back, a process that has only happened for roughly 2 percent of purchases that use the program, reported the Associated Press.

It had originally been seen as a boon for the dealers as it drove sales, but sporadic cash flow has left many with funding problems caused by the lack of reimbursement, noted the wire service.

The Greater New York Automotive Dealers Association had previously been supportive of the initiative, with Mark Schienberg advising prospective buyers to “go into the [showroom] and make the best deal you can, regardless of the government rebate,” according to the New York Times.

Doing research and negotiating may now help those who could turn to used cars in New York because of price constraints.

Used Jeep Liberties in New Jersey may be the best choice for transporting Fluffy

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Posted in Jeep - DO NOT USE

Unless the family’s beloved pet fits into a seatbelt, driving with Fido or Fluffy can become a concern for motorists, unless they drive animal-friendly vehicles like used Jeep Liberties in New Jersey.

The compact SUV made a recent list compiled by researchers from Edmunds Automotive and pet safety advocates Bark Buckle Up, thanks to features like side-impact airbags and rear seats than can fold flat.

“Regardless of which vehicle you own, it is critical to safely restrain your pet when you’re driving,” asserted Christina Selter, Bark Buckle UP founder. “Even the calmest unrestrained pets can become frightened in a moving vehicle, distract the driver and cause an accident.”

The two groups say that roughly 80 percent of all pet dogs travel in vehicles at least once in their lifetime, but unrestrained animals weighing 60 pounds can have the same impact as a 2,700 pound object in a 35 mile-per-hour crash.

Buyers considering used Jeep Liberties in New Jersey may find more than pet safety features in the 2005 model: the SUV got an exterior update and buyers may be able to find one with a more efficient diesel engine, according to Cars.com.

Buyers considering used Saabs in New York may be interested in automaker takeover

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Posted in Auto Industry News, Saab - DO NOT USE

Koenigsegg, the maker of million dollar sports cars in Sweden, has agreed to a deal with General Motors to take over the Saab line of cars, and buyers considering used Saabs in New York may want to take a look at older models before any changes are made.

The agreement was announced today, with the deal set to be completed by the end of the year if the European Investment Bank guarantees a $600 million loan to Koenigsegg, reported Bloomberg. It represents a move from supercars to a full product line with volumes in the hundreds of thousands.

“It is good that the ownership question for Saab now gets clearer but there are still several steps left before it is completed,” Swedish Industry Ministry State Secretary Joeran Haegglund told the news provider.

The two automakers plan on sharing resources and development facilities during the transition to Swedish ownership, but Koenigsegg has said that it will work to “transform” the automaker into a profitable venture, which could mean models with different appearances than used Saabs in New York, according to Automotive News.

Automakers’ lineup changes may not impact value of used cars in New Jersey

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Posted in Auto Industry News

General Motors is looking to revamp its entire line of automobiles, with majors shifts in store for brands like Buick, but as some state agencies and other buyers are finding, used cars in New Jersey and other states may be more economically sound choices.

Currently, less than one in five new cars sold in America are made by GM, and the company has focused on younger buyers with new styling and more fuel efficient vehicles, along with programs designed to improve brand awareness, according to the New York Times.

“People are looking at us with a healthy degree of skepticism,” Fritz Henderson, GM’s CEO, told the newspaper. “The awareness of our products was painfully, almost pitifully low.”

But states like West Virginia, constrained by funding shortfalls, are choosing to move away from new vehicles to fill shortages in various agencies, reported the Associated Press.

Buyers considering used cars in New Jersey may not see the $800,000 that West Virginia Governor Joe Manchin expects, according to the wire service, but they may be able to find a vehicle that costs 40 percent less than a comparable new vehicle.

Air conditioning may save fuel when driving used cars in New York at higher speeds

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Posted in General Auto News

The dog days of August may have motorists reaching for the air conditioning switch in used cars in New York, and they can now do so without worrying about fuel economy.

Industry scientists say that for sedans, the aerodynamic drag caused by rolling down the windows at highway speeds robs a vehicle of more energy than putting on the A/C.

To make the process more efficient, air conditioning subunit manufacturer Delphi recommends that before starting up a car that has been out in the sun, roll down all the windows to allow hot air to escape, then roll them up and put on the A/C.

Proper maintenance may also help owners cool down in used cars in New York: air filters can become clogged and less efficient, pushing less cool air through vents to occupants. Old coolant may also cause a similar reduction in the effectiveness, noted Delphi.

In city driving, however, SUV and truck owners may want to consider not using the air conditioning feature, since the boxy shape of those vehicles will outweigh any fuel savings, reported Slate.

Buying a new vehicle instead of a used car in New Jersey could require five months’ wages

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Posted in Auto Loans & Financing News

Comerica Bank recently issued a report on the costs of purchasing a new vehicle, and while the affordability index has remained relatively unchanged, it still takes 22 weeks’ wages to purchase a new car, compared to lower prices for used cars in New Jersey.

The financial institution said that the numbers are actually slightly higher this quarter, as dealers and automakers restrict some of the affordable lending options initiated during the financial downturn to boost sales.

“Reflecting the partial normalization of credit markets, the average rate paid on a car loan at finance companies was only 3.45 percent last quarter, the lowest level seen in five years,” noted Dana Johnson, Comerica Bank chief economist.

However, incentives like attractive financing and the Cash for Clunkers program are unlikely to last, as Congress and the Obama administration are looking to put Chrysler and General Motors onto a comfortable profit margin with limited incentives to buyers before selling the public’s stake in both companies.

Resistance from Republican lawmakers, as well as some Democrats and environmentalists, could also limit future funding for the Cash for Clunkers program, making used cars in New Jersey a more affordable option for some buyers.

Buyers no longer enticed by Cash for Clunkers may be looking at used cars in New York

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Posted in Auto Industry News

Recent internet purchasing analysis shows that by August 20, interest in new cars will be down to the level it was before the government-sponsored programs, in part because of people preferring used cars in New York.

Edmunds.com said that although interest reached a high on July 29, two days after the federal program was officially launched, buyers are now less likely to be shopping online and researching new vehicles.

“The funding for the original program was very low in relation to the size of the auto market,” said Michelle Krebs, Edmunds.com senior analyst. “This created a ‘Gold Rush’ mentality where consumers hurried to take advantage before funding ran out.”

People are still looking at purchasing vehicles, however, including those now considering used cars in New York, but there is some concern about new car sales later this year.

Krebs’ colleague Jessica Caldwell warns that a continued economic downturn could impact sales this fall, even with the introduction of new models after the spate of purchases related to Cash for Clunkers.

Buyers don’t need to wait for concept car to see roomy used Toyota Matrixes in New Jersey

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Posted in General Auto News, Toyota

A compact hatchback based on the Toyota Corolla is likely to take a bow at the Frankfurt Auto Show next month, but buyers looking for a roomy hatchback from the automaker could also consider a used Toyota Matrix in New Jersey.

The small concept will be made as a Lexus, and is designed to compete against the Audi A3 and BMW 1-series, a class of high-end hatchbacks that are more popular in Europe than here, reported Edmunds.com.

The car is likely to be presented at the Geneva show in 2010 as a pre-production model, but the website cautions that it’s not likely to make it here any time soon.

On the other hand the 2005 model year offers buyers considering used Toyota Matrixes in New Jersey a car they’ll be able to actually purchase, and one that offers good headroom and flexible seating, according to a Cars.com review.

The hatchback also adds more steering feel than the Corolla it is based on, and drivers can use up to 52 cubic feet of the interior for cargo with the seats folded down, reported the news provider.

Lack of insurance could prove costly for drivers of used cars in New Jersey

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Posted in General Auto News

Some in the industry estimate that up to one in seven motorists drive without insurance, but new enforcement efforts could affect owners who choose not to buy policies for used cars in New Jersey.

Local police agencies are setting up checkpoints that are similar to DUI stopping areas, requiring that drivers prove they have insurance and registration documents.

And it really doesn’t matter who they stop. William Mecke works for the Georgia Regional Transportation Authority as its communications director, and actually has insurance.

However, when an Atlanta-area officer stopped him and asked for proof of insurance, Mecke couldn’t find a current card and ended up with a ticket.

For those who choose to go without insurance entirely, police have the right to seize used cars in New Jersey and other jurisdictions, levy hefty penalties and even suspend someone’s license.

College students may be one group more affected than others, with lower annual income than other demographics.

They could help themselves two ways: a fuel-efficient used car is often less expensive to insure than new models, and getting good grades can reduce rates as well.