By: Matthew C. Keegan
Nearly a half million cars were destroyed by two of this past
season's biggest hurricanes, Katrina and Rita. Some of these
cars may not have received much apparent damage but they were
totaled nevertheless because of water, mud, and debris which
flooded engine bays and the interior. Damaged cars are supposed
to make their way to the junkyard for scrap, unfortunately some
unscrupulous parties are gaining a hold of the vehicle titles
and turning around and selling damaged cars to the public.
Should you be concerned? Absolutely! Read on to learn more about
this problem and what you can do to avoid being stuck with a
vehicle that is certain to be a lemon.
Let me just say this: it is not illegal for weekend mechanics to
buy a salvaged vehicle, repair it, and sell it to you. What they
must disclose to you is this: you are buying a salvaged vehicle.
This is where most of the problems begin: the dishonest
purveyors are not sharing this information.
Only 22 states require that the titles of flood damaged vehicles
[which were totaled by insurers] be stamped with that
information. So, if you live in any one of the 28 other states,
be extremely cautious about buying any used car [check your
local laws to see which group you belong to].
One organization is doing its part to help fight the problem.
The National Insurance Crime Bureau [NICB] this past summer and
fall sent teams to flood damaged areas in affected states to
work with local police authorities. What the teams did was try
to catalog all of the flood damaged vehicles and enter that
information in a database, which is accessible online. Because
of their diligence, nearly 200,000 car identification numbers
are now available for car buyers to search at www.nicb.org
Car shoppers should always invest in obtaining a car history
report from an independent company, such as Car Fax, as a back
up source to verify information about a vehicle. Although the
information supplied by these types of companies isn't always
100% accurate, it can usually reveal whether a car has been
salvaged, rebuilt, is a lemon, or has been flood damaged. Some
guarantee their information so check the individual
contract/agreement before you use their services to see what
recourse you would have in the event a lemon sneaks by them and
you purchase one.
So, how can we know for sure that there will be problems? Well,
if Hurricane Floyd is a measuring stick then the potential for
fraud is huge. In 1999, nearly 80,000 cars were damaged by Floyd
and taken off of the roads due to storm damage. About half of
that number were repaired and resold, many to unsuspecting
consumers.
You don't have to be a victim, so get informed. If a car is
priced well below book value that can be a big clue that a
problem exists, however don't rely on price, instead do some
research first before buying your next used car.
About the author:
Matt Keegan is a contributing writer for the Race Pages, a
supplier of quality Honda catalytic
converters and Toyota oxygen
sensors at discount prices.
Sunday, December 04, 2005
Saturday, December 03, 2005
The Secret To Getting The Best Car Lease Deal
By: Daniel DeHaven
When you lease an automobile, you are paying for the
depreciation from the final sale price to the residual value
once your lease term is finished.
Let's use a simple example, the final sale price of the car is
$30,000 and the residual value after a 3-year lease will be
$17,000. You will pay $13,000 plus interest during the 3-year
lease term of your car lease deal.
The secret to negotiate the best car lease deal is
to expose the "capitalized cost" or a.k.a. final sale price.
Aside from your money factor and residual value, the
"capitalized cost" is one of the main variables of the auto
lease that controls what your monthly payment will be and if
you'll get the best deal.
And this is the first mistake people make: not knowing that they
still have to negotiate the final sale price when leasing an
auto, just as if they were buying it. This mistake can cost
thousands of dollars over the course of a typical 3-year lease.
Always compare models for good residual values on your car lease
deal. Automotive Lease Guide (ALG) provides leasing residual
values for all new automobiles and gives awards to specific
models and manufacturers for residual value excellence.
Typically, an auto will depreciate 30%-40% of the original sale
price during the first 3 years of ownership.
Let's do the simple math: 35% depreciation of a $30,000 vehicle
= $10,500. As compared to 43% of $30,000 = $12,900. That's a
difference of $2,400 that you would pay during your lease term!
Among this year's auto industry brand winners are Honda, Toyota
and Nissan for excellence, and BMW, Lexus, and Acura for luxury.
Lastly, know how to translate an interest rate into a money
factor for your car lease deal. Translating the interest rate on
your auto loan into the money factor is easy: Money Factor
multiplied by 2400 = Interest Rate.
To get the best lease deal you should pay the same interest on
your lease as you would on your auto loan, so it makes sense to
research this on your own to know if the quote you get from the
dealer is reasonable.
You can find more information on how to get the best car lease deal or
apply for an online auto
loan quote to see what kind of interest rate you receive!
About the author:
Daniel DeHaven is the Editor in Chief of the BuyingAdvice Team. He
understands the auto business. He's been around it - all of his
life. Daniel has been a consumer advocate voice for over 15
years. He has learned every trick and profit ploy car
salespeople use... and mistakes buyers tend to make.
Copyright © 2002-2005 BuyingAdvice.com, INC
When you lease an automobile, you are paying for the
depreciation from the final sale price to the residual value
once your lease term is finished.
Let's use a simple example, the final sale price of the car is
$30,000 and the residual value after a 3-year lease will be
$17,000. You will pay $13,000 plus interest during the 3-year
lease term of your car lease deal.
The secret to negotiate the best car lease deal is
to expose the "capitalized cost" or a.k.a. final sale price.
Aside from your money factor and residual value, the
"capitalized cost" is one of the main variables of the auto
lease that controls what your monthly payment will be and if
you'll get the best deal.
And this is the first mistake people make: not knowing that they
still have to negotiate the final sale price when leasing an
auto, just as if they were buying it. This mistake can cost
thousands of dollars over the course of a typical 3-year lease.
Always compare models for good residual values on your car lease
deal. Automotive Lease Guide (ALG) provides leasing residual
values for all new automobiles and gives awards to specific
models and manufacturers for residual value excellence.
Typically, an auto will depreciate 30%-40% of the original sale
price during the first 3 years of ownership.
Let's do the simple math: 35% depreciation of a $30,000 vehicle
= $10,500. As compared to 43% of $30,000 = $12,900. That's a
difference of $2,400 that you would pay during your lease term!
Among this year's auto industry brand winners are Honda, Toyota
and Nissan for excellence, and BMW, Lexus, and Acura for luxury.
Lastly, know how to translate an interest rate into a money
factor for your car lease deal. Translating the interest rate on
your auto loan into the money factor is easy: Money Factor
multiplied by 2400 = Interest Rate.
To get the best lease deal you should pay the same interest on
your lease as you would on your auto loan, so it makes sense to
research this on your own to know if the quote you get from the
dealer is reasonable.
You can find more information on how to get the best car lease deal or
apply for an online auto
loan quote to see what kind of interest rate you receive!
About the author:
Daniel DeHaven is the Editor in Chief of the BuyingAdvice Team. He
understands the auto business. He's been around it - all of his
life. Daniel has been a consumer advocate voice for over 15
years. He has learned every trick and profit ploy car
salespeople use... and mistakes buyers tend to make.
Copyright © 2002-2005 BuyingAdvice.com, INC
Wednesday, November 30, 2005
The Hidden Costs of Car Leases
By: Amy Metz
Be honest- are you one of those people who just loves new cars?
I knew it. That's OK, we are in the same boat. I love new cars
just as much as you do. But I like not overpaying just as much
if not more than you do. That's why, when it comes to car
leases, I make sure and really get to know my options and
whether I should be leasing or buying my vehicles. As I've
learned (the hard way) a few times, there are all sorts of
hidden costs involved in leasing a new car. And they aren't what
you think they are. Lets look at a few of them.
1)The monthly lease payment. Did you know that there are
unscrupulous car dealers out there who will blindly rip you off
if you let them. That's right. And your monthly payment might
have been arbitrarily made up by one of these dealers on the
spot just by looking at you and deciding how much money they
should charge you. Make sure and question everything on the
lease form and ask in depth questions as to why you should be
paying what you are. The fine print can be your friend, use it
against the car dealer to negotiate a better deal somewhere else.
2)Keep an eye on your mileage. This is a biggie. A lot of people
get wooed by the idea of a lease and it's low payments. However,
these same people are living the high life until the day comes
when they have to finally return their vehicle. This is the day
of reckoning because they get charge for overage miles. It's not
a pretty site and it can seriously damage your bank account. If
you lease your car, make sure your mileage doesn't exceed it's
limit.
3)The lack of equity. When you buy a car, you own it (or the
bank owns the note on it). You don't build equity with a car
lease. Your car is basically being rented. Compare the equity
costs and gains before deciding on a least.
There are a ton of other hidden costs involved in car leases
that make points #1-3 look small by comparison. Learn all about
them.
About the author:
Amy Metz is author of "The Car Lease Hidden Cost
Guide." Grab your copy at http://www.learncarleases.com.
Be honest- are you one of those people who just loves new cars?
I knew it. That's OK, we are in the same boat. I love new cars
just as much as you do. But I like not overpaying just as much
if not more than you do. That's why, when it comes to car
leases, I make sure and really get to know my options and
whether I should be leasing or buying my vehicles. As I've
learned (the hard way) a few times, there are all sorts of
hidden costs involved in leasing a new car. And they aren't what
you think they are. Lets look at a few of them.
1)The monthly lease payment. Did you know that there are
unscrupulous car dealers out there who will blindly rip you off
if you let them. That's right. And your monthly payment might
have been arbitrarily made up by one of these dealers on the
spot just by looking at you and deciding how much money they
should charge you. Make sure and question everything on the
lease form and ask in depth questions as to why you should be
paying what you are. The fine print can be your friend, use it
against the car dealer to negotiate a better deal somewhere else.
2)Keep an eye on your mileage. This is a biggie. A lot of people
get wooed by the idea of a lease and it's low payments. However,
these same people are living the high life until the day comes
when they have to finally return their vehicle. This is the day
of reckoning because they get charge for overage miles. It's not
a pretty site and it can seriously damage your bank account. If
you lease your car, make sure your mileage doesn't exceed it's
limit.
3)The lack of equity. When you buy a car, you own it (or the
bank owns the note on it). You don't build equity with a car
lease. Your car is basically being rented. Compare the equity
costs and gains before deciding on a least.
There are a ton of other hidden costs involved in car leases
that make points #1-3 look small by comparison. Learn all about
them.
About the author:
Amy Metz is author of "The Car Lease Hidden Cost
Guide." Grab your copy at http://www.learncarleases.com.
Sunday, November 27, 2005
Basic auto tune up
By: Jerry Lemke
A tune up is a simple task that almost anyone can do. This will
make your vehicle more fuel efficient. This applies for any
motorized vehicle. The filters are a good place to start.
Depending how often you do a tune up will affect how much of an
improvement that you will see. Most mechanics suggest a tune up
by 60,000 miles. The engine air filter can be your first tune up
item. The air filter is located over a carburetor on older cars.
The air filter is in the airbox on fuel injected motors. The
fuel filter can be located anywhere between your engine and the
fuel tank and should also be replaced. If the fuel filter is
clogged it can make your engine run lean. Many times if your
check engine light has been on it is due to the o2 sensor not
working correctly. This is normally only replaced when it fails
but usually will not last long anyways. Now is also a good time
to have your transmission filter replaced. If the transmission
filter has alot of miles on it the transmission could be
slipping.Replacing this may need to be done by a mechanic,
unless you feel comfortable enough to it. The filter is usually
found under the transmission pan. The transmission filter will
usually pull straight down and out. Unless you have the scarce,
screw on filter like saturns. The ignition system is also very
important and requires attention. The spark plug wires will
usually wear out even faster than the 60,000 mile tune up. Try
half that mileage and it will save you money and troubles. Spark
plug wires wear out and lose resistance, making the car run
rough and use more fuel. While replacing the spark plug wires it
is also a good idea to replace the distributor cap and rotor.
The engine's distributor cap will come off easy, usually with
two screws. It may be easiest to remove the distributor cap
first to keep the wires running to the correct spark plug. When
the cap is removed, the rotor will be located under it and
usually has a push in tab to release it. Reinstall the new
distributer cap and proceed to remove one spark plug wire only.
Now it is time to replace the spark plugs. The spark plugs will
usually come out with a 5/8" or 13/16" socket. Replace the spark
plug with a new compatible plug. Check the gap with a feeler
gauge and tap on or pry the electrode back in until you have the
gap the size it needs to be. Most engines run the spark plug gap
between .030" and .045" depending on the vehicle. Now refer to
the wire set up on the old distributor cap. Trace the one wire
back to where it needs to be on the new cap. Do this to all the
wire and plugs so that they can't be mixed up. The ignition
timing should also be checked by connecting a timing light to #1
spark plug wire. The timing setting should be around 8 to 12
degrees advanced or zero on newer cars. The actual timing spec,
along with the spark plug gap, will be displayed under the hood
on a tag. Also if excessive oil was found in the air filter, you
should replace the PCV (positive crankcase valve) which will be
usually be found in the head, valve cover or air cleaner/box. If
there is no oil in the air filter then the PCV valve is o.k.
This will return your car to the factory oem specs and will
probably improve the power, smoothness and fuel economy.
About the author:
Glad to have you on my site. I have worked in the engine
industry for the last ten years. Everywhere from outboard motor
companies (Mercury Marine), to working with direct injection
lightweight motors that will burn any fuel, to nascar (Joe Gibbs
Racing). www.freeengineinfo.com
A tune up is a simple task that almost anyone can do. This will
make your vehicle more fuel efficient. This applies for any
motorized vehicle. The filters are a good place to start.
Depending how often you do a tune up will affect how much of an
improvement that you will see. Most mechanics suggest a tune up
by 60,000 miles. The engine air filter can be your first tune up
item. The air filter is located over a carburetor on older cars.
The air filter is in the airbox on fuel injected motors. The
fuel filter can be located anywhere between your engine and the
fuel tank and should also be replaced. If the fuel filter is
clogged it can make your engine run lean. Many times if your
check engine light has been on it is due to the o2 sensor not
working correctly. This is normally only replaced when it fails
but usually will not last long anyways. Now is also a good time
to have your transmission filter replaced. If the transmission
filter has alot of miles on it the transmission could be
slipping.Replacing this may need to be done by a mechanic,
unless you feel comfortable enough to it. The filter is usually
found under the transmission pan. The transmission filter will
usually pull straight down and out. Unless you have the scarce,
screw on filter like saturns. The ignition system is also very
important and requires attention. The spark plug wires will
usually wear out even faster than the 60,000 mile tune up. Try
half that mileage and it will save you money and troubles. Spark
plug wires wear out and lose resistance, making the car run
rough and use more fuel. While replacing the spark plug wires it
is also a good idea to replace the distributor cap and rotor.
The engine's distributor cap will come off easy, usually with
two screws. It may be easiest to remove the distributor cap
first to keep the wires running to the correct spark plug. When
the cap is removed, the rotor will be located under it and
usually has a push in tab to release it. Reinstall the new
distributer cap and proceed to remove one spark plug wire only.
Now it is time to replace the spark plugs. The spark plugs will
usually come out with a 5/8" or 13/16" socket. Replace the spark
plug with a new compatible plug. Check the gap with a feeler
gauge and tap on or pry the electrode back in until you have the
gap the size it needs to be. Most engines run the spark plug gap
between .030" and .045" depending on the vehicle. Now refer to
the wire set up on the old distributor cap. Trace the one wire
back to where it needs to be on the new cap. Do this to all the
wire and plugs so that they can't be mixed up. The ignition
timing should also be checked by connecting a timing light to #1
spark plug wire. The timing setting should be around 8 to 12
degrees advanced or zero on newer cars. The actual timing spec,
along with the spark plug gap, will be displayed under the hood
on a tag. Also if excessive oil was found in the air filter, you
should replace the PCV (positive crankcase valve) which will be
usually be found in the head, valve cover or air cleaner/box. If
there is no oil in the air filter then the PCV valve is o.k.
This will return your car to the factory oem specs and will
probably improve the power, smoothness and fuel economy.
About the author:
Glad to have you on my site. I have worked in the engine
industry for the last ten years. Everywhere from outboard motor
companies (Mercury Marine), to working with direct injection
lightweight motors that will burn any fuel, to nascar (Joe Gibbs
Racing). www.freeengineinfo.com
Friday, November 25, 2005
Reducing cost of gas with hybrid cars
By: Dylan Miles
The first successfully designed, engineered and launched hybrid
car was by Ferdinand Porsche all the way back in 1899. How
surprisingly long ago it has been since the first hybrid car and
only of recent years have we been able to find a way to bring
hybrid cars to the home users.
With the continual rise in the cost of gasoline, most consumers
welcome the new breed of cars in the form of hybrid cars. Hybrid
cars use multiple propulsion systems to provide power. It
combines the use of gas and also electric to power up the car.
Hybrid cars are comparatively smaller than the usual internal
combustion engines and have been known to save consumers quite a
bit of money every month on gas.
One question lingers on...how can a hybrid car save me, the
consumer, money? Well, the basic reason is because hybrid cars
don't use as much gas as the normal cars we see on the road.
When the hybrid car is being driven or in use, they are
recharging their batteries. And when the hybrid car is cruising
or stationary, it also charges the batteries.
Of course, we've heard of the all-electric cars which use
nothing but electric which requires one to charge the car up
whenever not in use through an external source and we've also
heard of the range extending trailer. But if convenience, safety
and money are important to you, consider the hybrid car as a
complete life saver. Although not completely certified to be so
because the hybrid car continues to use gas (which is not
environmental friendly), the hybrid car, when compared to the
conventional car, is more environmentally-friendly. In fact, the
fuel economy advantage provided by hybrid cars is good enough
for the US Government because they provide a tax credit of up to
$3,400 for owners of hybrid cars.
How can a hybrid car save me money? Because the use of
self-charging electrical components within the car means that
the hybrid car uses less fuel.
Because the internal combustion engine in a hybrid car is much
smaller than the conventional car. Therefore, it is not only
smaller, but it is much lighter and more efficient than any
other cars we've known.
Because when the car is moving, is idle or stationary or when
the car brakes, it is a chance for the batteries to recharge
itself. The more electricity it uses from the batteries, the
less fuel it uses. Simple and logical.
About the author:
Dylan Miles, journalist, and website builder, lives in Texas. He
is the owner and co-editor of http://www.gascosts.info on which
you will find a longer, more detailed version of this article.
The first successfully designed, engineered and launched hybrid
car was by Ferdinand Porsche all the way back in 1899. How
surprisingly long ago it has been since the first hybrid car and
only of recent years have we been able to find a way to bring
hybrid cars to the home users.
With the continual rise in the cost of gasoline, most consumers
welcome the new breed of cars in the form of hybrid cars. Hybrid
cars use multiple propulsion systems to provide power. It
combines the use of gas and also electric to power up the car.
Hybrid cars are comparatively smaller than the usual internal
combustion engines and have been known to save consumers quite a
bit of money every month on gas.
One question lingers on...how can a hybrid car save me, the
consumer, money? Well, the basic reason is because hybrid cars
don't use as much gas as the normal cars we see on the road.
When the hybrid car is being driven or in use, they are
recharging their batteries. And when the hybrid car is cruising
or stationary, it also charges the batteries.
Of course, we've heard of the all-electric cars which use
nothing but electric which requires one to charge the car up
whenever not in use through an external source and we've also
heard of the range extending trailer. But if convenience, safety
and money are important to you, consider the hybrid car as a
complete life saver. Although not completely certified to be so
because the hybrid car continues to use gas (which is not
environmental friendly), the hybrid car, when compared to the
conventional car, is more environmentally-friendly. In fact, the
fuel economy advantage provided by hybrid cars is good enough
for the US Government because they provide a tax credit of up to
$3,400 for owners of hybrid cars.
How can a hybrid car save me money? Because the use of
self-charging electrical components within the car means that
the hybrid car uses less fuel.
Because the internal combustion engine in a hybrid car is much
smaller than the conventional car. Therefore, it is not only
smaller, but it is much lighter and more efficient than any
other cars we've known.
Because when the car is moving, is idle or stationary or when
the car brakes, it is a chance for the batteries to recharge
itself. The more electricity it uses from the batteries, the
less fuel it uses. Simple and logical.
About the author:
Dylan Miles, journalist, and website builder, lives in Texas. He
is the owner and co-editor of http://www.gascosts.info on which
you will find a longer, more detailed version of this article.
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