Monthly Archives: January 2012

Modest Economic Improvements Highlight Appeal of Used Cars

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Posted in General Auto News

From shrinking unemployment to growing consumer confidence, there has been a lot of encouraging news regarding the economy in recent weeks. While it is certainly cause for optimism, analysts are quick to point out that there is still a long road to recovery. People may want to still make smart financial moves, like heading to New Jersey State Auto Auction to buy a used car.

One of the biggest reasons behind the cautiousness is the Euro debt crisis. Europe has been struggling to come up with a long-term debt reduction plan. As a result, the chances of slipping back into a recession are still very real. Additionally, high gas prices are likely to stay high, given prolonged conflict in the Middle East, so a fuel-efficient used car may be a great idea.

Unemployment has dropped in the last several months, and while that is certainly good news, analysts from Kelley Blue Book believe it may still be high throughout much of 2012. The trend will certainly have an impact on the economy.

"The current duration of unemployment has grown consistently since 2008 and currently stands at a high of 41 weeks," Alec Gutierrez, KBB's senior market analyst, wrote. However, he added that the auto industry may still see a slight rise in sales compared to 2011.

The bottom line is that while the economy has definitely improved over the last several months, there is no need to do away with being cautious. Buying a used car is a great way to save money while still enjoying the financial freedom that the improvements have brought. New Jersey State Auto Auction is a great place to go for a used car and has plenty of makes and models at affordable prices.

The Best Cars to Trade-In

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Posted in General Auto News

If you are in the market for a used car, trading-in your current model can be an excellent move. Not only will you no longer be saddled with the old vehicle, but you may get some money off on the one you purchase as well. The market is especially good for trade-ins now due to a depleted used car inventory, and according to Forbes, there are several models what will yield the biggest returns.

Starting off is the Jeep Wrangler. The Wrangler is popular among a wide spectrum of drivers due to its versatility. It can attract more casual motorists as well as those who want to take it off road. Analysts found that a 2008 two-door model with around 46,000 miles could get as much as 90 percent of its original value, with the four-door model getting 91 percent.

When it comes to pickups , the Toyota Tacoma performs quite well. According to Forbes, the decrease in demand for pickups has not hurt the trade-in value of the Tacoma, with a 2008 model getting drivers 72 percent of the original price. The news is even better for those trading in the four-door variety, which could get up to 87 percent.

As for smaller cars, the publication says that the Mini Cooper retains its value very well and could make owners happy when they go to trade it in. The ride might command as much as 77 percent of its sticker price because it is high in demand among young drivers.

Regardless of what car you have, New Jersey State Auto Auction is a great place to go if you're looking to trade in your current vehicle. The dealer is an Autotrader.com Trade In Marketplace Dealership so you can get an accurate and fair appraisal in no time.

Borrowing Rises Almost 10 percent in November

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Posted in Auto Loans & Financing News

Spurred by the holiday season, consumers borrowing in November – on everything from credit cards to car loans – experienced its fastest growth in 10 years. Analysts found that borrowing rose 9.9 percent during the month, a clear sign that consumers are becoming more confident thanks to the recovering economy, The Wall Street Journal reports.

The findings come after buyers had been limiting incurring any debt, but industry insiders found that the number of car and student loans has been on a moderate incline for some time. The increase in confidence may indicate that it's a great time to buy a used car or make other big purchases.

"Consumer credit growth is a positive sign for the recovery in that it signals increasing demand and willingness to spend," economist Paul Edelstein told his employees, the WSJ reports.

The growing tendency of consumers to get a car loan is just one of many encouraging signs that point toward economic recovery. After a dip to 8.6 percent in November, unemployment fell once again in 8.5 percent in December. While some analysts are quick to point out that the United States will have to add around 250,000 jobs a month to make a significant improvement, any decrease is a good sign.

Anybody who is looking to take advantage of the improving economic conditions may want to head to New Jersey State Auto Auction. Thanks to a partnership with Credit Acceptance Corp., the dealer offers automatic credit approval. Even if your score has been hurt by the economic downturn, getting accepted for a loan is not something you have to worry about. Additionally, making payments on time is a great way to rebuild your credit score.

Study Reveals Drivers Place Emphasis on Technology

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Posted in General Auto News

Drivers often place an emphasis on safety features but results of a new Accenture study shine light on a shift in their preference. Technology is playing a greater role in what drivers are looking for in safety features, with 91 percent saying they want a lane-change or blind-spot warning in their car.

The study polled 7,000 drivers across the globe, and while the blind spot warning system was the overwhelming favorite, respondents had some other preferences as well. Specifically, 83 percents said they wanted a feature that would automatically contact a vehicle recovery organization in the event of a breakdown, and 75 percent would like a car that calls the nearest emergency service providers if there is a crash.

While technology for saftey's sake is important to many drivers, it is not the only area where they want the latest gadgets. In particular, most respondents said they want improved communication capabilities, with 63 percent saying they would like car-to-car communications and 58 percent prefer to read or dictate emails while driving.

"In-vehicle infotainment (IVI) systems are quickly becoming part of mass-market car-buying as the latest IVI technologies inside today’s connected vehicle are increasingly as much a determinant of sales as design, fuel efficiency and performance," said Marcello Tamietti, managing director of Accenture’s Connected Vehicle group. "As consumer desire for IVI capabilities grows, it will be important for automotive manufacturers to seek partnerships that can offer a sustained, seamless IVI experience."

Regardless of what technology you have in your car, if its maintenance is not up to snuff it could all be for naught. Luckily, New Jersey State Auto Auction's Total Car Care Center provides general upkeep as well as repairs to make sure your car runs smoothly.

It’s Electric: Plug-in Ford Fusion Debuted at Detroit Auto Show

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Posted in Auto Brands News, Ford

The Ford Fusion has been a popular midsize sedan since it first hit the market in 2005, and with the recent announcement of its upcoming models that's not likely to change anytime soon. Ford revealed that the next Fusion will come in a plug-in, hybrid or turbo option, USA Today reports.

The unveiling came at the North American International Auto Show in Detroit, which kicked off earlier this week and happened as Ford continues to make a big push toward fuel efficiency, and many analysts are surprised that the company is going to offer a plug-in model because so few major manufacturers have done so.

"We brought our global teams together around a blank slate with the charge to develop a midsize car with ground-breaking design and jaw-dropping fuel economy," Derrick Kuzak, group vice president of global product development, said in the announcement, the publication reports.

Although the new versions are part of the 2013 model, that does not mean that drivers can't get excellent fuel efficiency out of their used Ford Fusion as well. For instance, the 2010 Fusion got a respectable 34 mpg on the highway.

Of course, there are a number of things you can do while out on the road to help improve your gas mileage even more. For instance, driving at or around the speed limit has shown to have a positive impact, as has opting for cruise control on the highway.

Whether you're looking for a Fusion or another similar midsize sedan, New Jersey State Auto is the place to go. Its diverse collection of used cars at affordable prices makes finding the right vehicle easier than ever.

Improving Economy Makes for a Good Time to Buy Used Cars

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Posted in Auto Industry News

Slowly but surely, the economy is on its way to recovery. That was clearly reflected earlier this month when unemployment dipped to 8.5 percent – a nearly three-year low. Though it might take some time to get back to pre-recession levels, the number of positive signs should have consumers feeling good. With the encouraging future, now may be the best time to head to New Jersey State Auto Auction for a used car.

If 2011 was any indication of whether the auto industry is on the road to recovery, 2012 may prove to be a great time to get behind the wheel of an updated ride. The last year presented a number of challenges including natural disasters in Japan as well as the prolonged debt debate in Congress during the summer. But despite all that, sales still jumped 10 percent from 2010, according to Kelley Blue Book.

"Sales forges ahead, proving that consumers have grown thicker skin after experiencing the many ups and downs since 2008," wrote Alec Gutierrez, the senior market analyst for KBB. "Even the earthquake in Japan had little impact on sales momentum through 2011."

Anybody looking to get a used car may want to act quickly. The values of 1-to-3-year old vehicles dropped 1.2 percent during December, and KBB believes that values may be on the rise during 2012 due to an increase in demand. In fact, the organization expects values to increase 3 to 5 percent in the first quarter, with compact cars and crossovers experiencing the highest growth.

To take advantage of the relatively low value in used cars, you should head to New Jersey State Auto Auction. In addition to a wide variety of makes and models, the dealer offers them at affordable prices.

Auto Sales to Continue Upward Trend in 2012

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Posted in Auto Industry News

Auto sales rose considerably during 2011, with industry insiders reporting about 12.7 million units sold during the year. Kelley Blue Book expects the upward trend to continue in 2012, and projects that about 13.3 million cars will be sold. While it still might be down a bit from the 16 to 17 million the industry experienced a decade ago, it is still a sign that consumer confidence is on the way up and now may be a great time to buy a used car. 

To get a sense of how far auto sales have come in the last few years, one need only look back to 2009. That year there were just 10.5 million vehicles sold in the United States as the country was still reeling from the economic downturn in 2008.

In addition to the rise in consumer confidence being the force behind spike sales, experts say that many drivers need get in younger cars because the average age of cars on the road is on the rise.

"Sales growth is primarily driven by need and as the average age of vehicle approaches 11 years, consumers will hit showrooms for replacement vehicles," Kelley Blue Books's Alex Gutierez writes.

The need for an updated car,coupled with the fact that other economic conditions, including both unemployment and the housing market, are improving, means that consumers will continue to be less hesitant to spend.

With the improving market, those looking for a used car will want to head to New Jersey State Auto Auction. With a wide selection of makes and models at affordable prices, the dealership provides a great resource for people looking to spend wisely.

Hyundai Elantra Named North American Car of the Year

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Posted in Auto Industry News

The North American International Auto Show doesn't open to the public until Saturday, but it has already made waves through the industry. It was recently announced at the show that the Hyundai Elantra was its 2012 North American Car of the Year, The Associated Press reports.

The Elantra beat out the Ford Focus and Volkswagen Passat, and although it's an honor for Hyundai, officials say that sales of the car are already doing quite well. Even still, being recognized for the award will go a long way in helping Hyundai solidify its place among the most popular compact car brands.

"It should be helpful for our brand going forward," Hyundai's North American CEO John Krafcik told the AP.

It's no surprise that the Elantra has risen in popularity over the last several years, given its fuel efficiency. The cars start at a little over $16,400 and get an impressive 33 miles per gallon. According to the AP, Hyundai sold more than 186,000 in 2011 which was up 41 percent compared to 2010.

The Elantra was not the only vehicle to get recognized at the show, however. The Land Rover Range Rover Evoque came home with the North American Truck of the Year award. While it may not be as affordable as the Elantra, it certainly resonated with consumers this year.

Anybody looking to get behind the wheel of a used Hyundai Elantra will want to head to New Jersey State Auto Auction. Even if you are not in the market for an Elantra, the dealer has a wide variety of makes and models at affordable prices.

Jay Leno Tests Out Powerful Venom GT

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Posted in Celebrity Auto News

There are few celebrities who are bigger auto enthusiasts than Jay Leno. The venerable talk show host is known almost as much for his large collection of cars as he is for his iconic jawline. So it should come as no surprise that when Hennesey Performance wanted a big name to test drive its Venom GT, Leno was at the top of the list.

The drive has been in the works for some time. According to Autoweek.com, Hennesey first gave the high-performance ride to Leno a few months ago, but at that time it was not street legal. Leno told them to make some modifications so he could take it out on the open road, and they did.

The specifications tell the whole story. The powerful V-8 engine is located in the back and gives the car between 800 and 1,200 horsepower, depending on which setting the driver chooses. It can make it from 0 to 60 mph in just 2.5 seconds, and reach the 200 mph mark in 15.3 seconds.

"There's plenty of room inside," Leno said in a YouTube video. "It's snug but it's certainly not tight. I mean i'm six-feet tall, I'm pretty wide, and I'm comfortable in it."

The Venom is just the latest in a long line of cars that Leno has added to his garage. According to his website, his collection spans 100 years and dates back to the 1906 Baker electric car.

While few people can compete with the garage that Leno has amassed over the years, going to New Jersey State Auto Auction can be a step in the right direction. The dealer offers a wide variety of makes and models at affordable prices.

Shocking News: GM to Enhance Chevy Volt Safety

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Posted in Auto Brands News, Chevrolet

The Chevrolet Volt hit a bit of a snag in its quest to become a popular electric vehicle a few months ago when several of the cars' batteries caught fire after a crash test. Though General Motors is confident the issue is an aberration, the Volt is going to get some safety enhancements to ensure it never happens again.

The changes come after it was revealed that three Volts caught fire three to seven days after a government crash test mandated by the National Highway Traffic Safety Administration last year. After lengthy testing, GM officials determined that the fires started because the crash caused a crack in the battery, which resulted in the leakage of some coolant. The so-called enhancements will be there to make sure there is no chance of coolant leaking.

The enhancements being made to the Volt include a strengthening of an existing structure in the vehicle to protect the battery, as well as the addition of a sensor in the reservoir to monitor the levels of coolant in the battery. Despite the updates, officials will not call it a recall.

"These enhancements and modifications will address the concerns raised by the severe crash tests," GM senior vice president of Global Product Development Mary Barra said. "There are no changes to the Volt battery pack or cell chemistry as a result of these actions. We have tested the Volt’s battery system for more than 285,000 hours, or 25 years, of operation."

While very few people today drive Volts, its issues underscore the importance of keeping a car properly maintained, whether it be through having proper fluid levels or regular upkeep. New Jersey State Auto Auction's Total Car Car Center provides drivers the chance to make sure their vehicle is running smoothly – all at an affordable price.