Exploring the vehicles of “Fast Five”

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Posted in Celebrity Auto News

"Fast Five" raced to first place at the box office this past weekend, netting a whopping $84 million dollars. No doubt that action stars like Vin Diesel and Dwayne "The Rock" Johnson contributed to the film's success, but just as important as the actors in these films are the cars they drive. So what should moviegoers keep an eye out for when they go see the film?

Vin Diesel's character Dom has favored a 1970 Dodge Charger in every film he's been in, and it's back for the fifth installment. In the movie, the car sports a 900-horsepower supercharged Hemi, but in real life the producers went with a 400-horsepower model for filming purposes.

The Charger isn't the only vintage model in the movie. You'll also be able to spot Paul Walker's character, Brian, behind the wheel of a 1972 Nissan Skyline, as well as glimpses of a 1966 Corvette Grand Sport and 1963 Ford Galaxy.

That's not to say the film is light on modern cars. Returning from the late nineties is the Toyota Supra, while the Porsche GT3 represents the beginning of the new millennium. Contemporary models featured in the film include the Subaru STi and Lexus LFA.

Drivers might not be able to afford some of these souped-up rides in real life, but they can certainly look for some of the classic models at New Jersey State Auto Auction, which offers a wide range of cars for sale at affordable prices.

Automakers dial back incentives on new cars

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Posted in Auto Industry News

A new report by Bloomberg shows that automakers and dealers cut new car incentives in April to their lowest point in five years.

The 14 percent decline puts the average incentive for a new car at $2,320 in April. Automakers seem to be tightening their belts for two reasons. Sales are good right now, thus they don't need the extra bonuses to help hit their target numbers. And production in Japan has slowed to a crawl, meaning that the companies are hoping to squeeze every penny out of each vehicle they do have.

"The outlook for incentives is that they are going to be down dramatically," said Jesse Toprak, vice president of industry trends at TrueCar.com.

In terms of specific automakers, Ford and Chrysler both cut incentives by approximately 20 percent each. GM offered some great deals on trucks, but offered absolutely no deals on its Cadillac luxury vehicles.

Over in Japan, Nissan scaled back the most, cutting deals by 33 percent and postponing its annual spring sales event. Toyota was more modest in its rollbacks, but still saw incentives drop off by 3 percent. Honda was the only automaker to offer more savings, with a 9 percent increase.

Drivers looking to save may want to avoid the new vehicle market for the time being, and instead browse the selection of used cars for sale at New Jersey State Auto Auction. 

Ford Escape and Mercury Mariner may have window-shattering problem

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Posted in Ford

The National Highway Traffic Safety Administration has announced that it will be launching an investigation into nearly 200,000 Ford and Mercury SUVs for an issue that could cause the back window to completely shatter.

The agency has received 18 complaints of the entire window spontaneously shattering when the trunk is either opened or closed. According to the bureau, at least one of these incidents led to injury, when "the complainant and her 10-year-old son were cut by glass fragments." Although no conclusive link has been determined, the NHTSA did reveal that most of the reported incidents occurred in cold weather conditions.

Specific models that will be looked into include the Ford Escape and Mercury Mariner SUVs from 2010 and 2011.

Ford has previously issued a technical service bulletin (TSB) for the issue. TSBs are issued when a full recall is deemed unnecessary, but the company wants its mechanics to be aware of the issue and how to fix it. If the results of the NHTSA investigation find that the problem is widespread, Ford may be forced to recall the vehicles anyways.

Drivers in the market for a used Ford or any other vehicle should check to ensure that the model in question doesn't have a history of maintenance issues before they buy.

NHTSA investigates GM fuel issues

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Posted in Chevrolet

The National Highway Traffic Safety Administration has announced that it will be opening an investigation into approximately 865,000 vehicles made by General Motors, as the agency has received numerous reports of these cars displaying incorrect fuel levels.

According to complaints received by the agency, some SUV models manufactured by GM between 2005 and 2007 may eventually be affected by the issue. The complaints state that the fuel gauges show that the car has more gas than it actually does. In 58 of the complaints received, the driver actually ran out of gas because of the issue – with one of these unexpected engine stalls leading to an accident.

U.S News reports that the NHTSA supposedly received an additional 610 reports about the problem, though those drivers did not run out of gas.

The models in question are all built on the same platform and include the Saab 9-7X, Chevrolet Trailblazer, GMC Envoy and Buick Rainier. It's worth noting that Saab is no longer part of GM, as it was sold off to a third party.

No official recall has been issued, so drivers will have to wait and see what the NHTSA finds before taking their car in for service.

Drivers interested in a used car or SUV should be aware of any potential recall or safety news for the vehicles they're considering. Once they've decided on a model, New Jersey State Auto Auction can offer them an affordable price. 

Chrysler to pay back government debt

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Posted in Auto Industry News

Chrysler has announced that it is finally paying back the nearly $7.5 million dollars that it owes the U.S. and Canadian governments after accepting bailout loans during the economic recession.

With the company on the verge of going under, Chrysler was forced to accept the money to stay afloat. However, the loans came with high interest rates of nearly 12 percent, which were causing Chrysler to lose more than $1 billion each year.

In order to avoid paying that extra cash and get out from debt with the government, Chrysler has secured a refinancing package funded by several major banks. Under the terms of the deal, the banks will pay off Chrysler's debt in full, effectively ending the automaker's bailout. Chrysler will still be in debt to the banks, but will presumably be enjoying a significantly lower interest rate on the loan.

Paying off the debt owed to the government was one of Fiat's key goals for Chrysler when it assumed control of the automaker. Now that the company is no longer in debt to the government, Fiat will be able to increase its stake in the company to a majority share. 

Chevy announces 2012 Corvette changes

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Posted in Auto Industry News, Chevrolet

The Chevrolet Corvette is one of the most famous models in existence, and each year General Motors keeps making adjustments. The 2012 version of the vehicle isn't a complete redesign, but it does feature a number of upgrades over the 2011 version that drivers may want to consider.

This year, GM has focused on upgrading the interior of the Corvette for a more pleasurable driving experience. The optional Bose audio system has been upgraded from seven speakers to nine, and buyers can also upgrade to a technology package that includes Bluetooth connectivity and a USB port. Comfort has been addressed as well, with a brand-new seat featuring padded armrests.

"We constantly strive to make the Corvette a better car on the road and the track," said Tadge Juechter, Corvette chief engineer. "For 2012, the Corvette lineup achieves its highest performance level ever, while at the same time being easier to drive and enjoy thanks to several changes and new features inside the car."

Drivers interested in purchasing a used Chevrolet Corvette may want to consider New Jersey State Auto Auction, which offers a wide range of cars for sale at affordable prices.
 

Ford details car color trends

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Posted in Auto Industry News, Ford

Ford has been studying buying trends lately in order to improve its offerings, and one of the areas that the company has looked closely at is how the color of a vehicle factors into a driver's decision.

The company found that the vast majority of consumers in America and Europe played it quite safe with their choices – white, black, silver and gray are the most popular color selections. Yet it's not completely true across the board – tastes vary a bit depending on the region.

For example, silver and gray are the top choice for big cities such as Los Angeles and New York. Black is king in Boston, while white is the top color for San Francisco. Tastes vary in Europe as well: Ireland prefers silver, Denmark likes black, and both French and Italian drivers are fans of tan.

Some places buck the trend of grayscale-inspired car colors and branch out into the rainbow. The Czech Republic, for example, is the only country studied to break out of the gray/black/white/silver mold, as drivers in this country generally buy blue. Red is very popular in the American midwest, while Philadelphia and Pittsburgh drivers "go green."

Drivers interested in a vehicle of any color may want to consider New Jersey State Auto Auction, which offers a wide variety of cars for sale in any shade you desire. 

Why to refinance your car loan

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Posted in Auto Loans & Financing News, How To

Drivers in the market for auto loans have a wide variety of sources to choose from when attempting to secure financial assistance. Whether they go to a bank, credit union or the dealer themselves, getting a loan is a pretty simple process, even for those with poor credit.

If you've already got a loan, however, you should keep in mind that it's always possible to refinance your loans and receive more favorable terms. The term "refinance" can conjure up images of mountains of paperwork for some people, as the term is typically associated with the mortgage industry. Contrary to popular belief, however, refinancing in the auto industry is much, much easier.

Refinancing can be very useful for drivers with bad credit. For example, if you have less than stellar credit, you'll slowly but surely build your score as you make the payments on your car loan. As your score rises and negative marks fall off your credit report, you could end up with a much better score down the line. This is where refinancing can be really helpful.

Take a five-year auto loan as an example. Good payments over the first two years will likely repair your credit score substantially, at which point you can begin shopping for refinancing options. The terms that are now available to you will likely be a big step up from the previous interest rates, meaning you'll be able to save a boatload of money for the final three years of the loan.

Refinancing is still applicable even if rates haven't gone down or your credit score hasn't improved. If you feel like you're spending too much money paying off your car loan each month, you can actually lower your monthly payment simply by extending the terms of the loan. By adding an extra year or two, you'll end up with more money each month.

Finally, choosing to refinance can essentially serve as a "do-over" to the initial loan. Dealers make a lot of money off of their financing departments, and some can be less-than-reputable, offering inflated interest rates or unfavorable terms. If you feel like you've been taken advantage of, refinancing can ensure that you get a much more reasonable rate.

When you've chosen a vehicle and are ready to talk financing, consider New Jersey State Auto Auction. Not only do they offer a wide variety of cars for sale, but they offer trustworthy auto loans at competitive rates and work with borrowers with all types of credit scores.
 

Mercedes announces pricing for new coupes

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Posted in General Auto News, Mercedes-Benz

Mercedes-Benz has announced the pricing for three of its upcoming models, and as you might have expected, they're not cheap.

The 2012 SLK and CLS coupes are on the way, and they'll be fetching a pretty penny. The SLK350 is the cheapest of the lot at $54,800, while the CLS550 is priced at $71,300. Neither approaches the CLS63 AMG however, which will sell for a whopping $94,000.

All three models have significant upgrades for the 2012 model year. The SLK features a new V6 engine with direct injection and multispark ignition. Both versions of the CLS will be sporting a new V8 engine: a 4.6-liter and 5.5-liter, respectively. The larger version reportedly produces a staggering 518 horsepower and 516 lb-ft of torque for the CLS63 AMG, according to USA Today.

The prices on these cars might be high, but there's no denying that they're great vehicles. Drivers who want to get in a luxury vehicle without breaking the bank may want to wait for the cars to hit the used auto market. New Jersey State Auto Auction has a wide selection of used Mercedes and other vehicles at affordable prices.
 

Volt, Leaf, earn safety commendations

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Posted in Chevrolet, General Auto News, Nissan

Customers who buy a Nissan Leaf or Chevy Volt can now drive not only knowing that they're helping the environment, but that they're also in a very safe vehicle.

Both electric cars received the Insurance Institute for Highway Safety's (IIHS) coveted "Top Safety Pick" award, which puts them in the top 57 percent of vehicles tested. Both vehicles posted strong marks in front, side and rear crash tests.

Joe Nolan, chief administrative officer for the test, said that the vehicles' extra body mass and weight of their battery packs made them overall safer vehicles compared to similarly-sized hatchbacks and compacts.

"What powers the wheels is different, but the level of safety for the Volt and Leaf is as high as any of our other top crash test performers," he told Reuters.

The IIHS is underwritten by insurance companies and primarily provides them with data on the safety of a vehicle so that the insurers can adjust their premiums accordingly.

The Volt and Leaf are still pricey, so drivers might be better served by waiting for them to hit the used car market before they make their purchase. Once they do, New Jersey State Auto Auction can provide a fair deal on the two models or any other vehicles that a driver may be considering.