Robert Duffer Chicago Tribune Published 1:57 p.m. UTC Jun 21, 2018 More than 50 years ago, a certain graduate in an Italian roadster made a cross-country race against time, love and impending adulthood. Though Alfa Romeo has returned to the U.S. and “The Graduate” is still a classic, a lot has changed in how most new graduates will be using their vehicles to flee the parental nest and embark on one of the most uncertain and exciting times of adulthood. The car-buying process is equally fraught, whether someone is graduating from high school, college, vocational school or skipping higher education altogether, along with the six-figure debt that comes with it. You can get a lot of car for the price of a college education. But should you get a small car good on gas and maneuverability, or an all-wheel-drive crossover good on everything else? New or gently used or certified pre-owned? Lease or loan, or just pass on the family beater? While cost may be the main concern … [Read more...] about Graduating to your own car? Safety features are key
Certified preowned cars
Subaru of America is launching a company-certified collision repair program that will include both its dealerships and select independent body shops. The company developed its plan with Wadsworth International, a consultancy that already provides administrative support to Jaguar Land Rover’s collision certification program. Subaru launched a pilot collision repair program in March with 30 locations, including 10 dealerships. The plan is to expand the program into a national network this year, certifying 400 body shops by 2019, Automotive News reports. Car companies certify body shops that meet their repair standards, recommending the facilities to car owners. Some collision repair programs, such as Toyota’s, are open only to the company’s dealerships while others are administered by third parties and include both dealerships and independent shops. A neutral partnership Subaru’s program defines the partnership between the company and a certified shop as a … [Read more...] about Subaru Wants 400 Certified Body Shops In The US By 2019
My wife and I are beginning the car-buying process. Since new cars depreciate quickly, we are thinking of buying an almost-new vehicle that’s certified by the manufacturer. What do you think of this idea? Q. My wife and I are beginning the car-buying process. We would like a small to midsize SUV. We’ve purchased new and used cars before. Since new cars depreciate quickly, we are thinking of buying an almost-new vehicle that’s certified by the manufacturer. What do you think of this idea? Should we go for the extra features such as wheel and tire insurance, GAP insurance, and key insurance? A. Buying a certified pre-owned (CPO) car can make sense depending on what is included. I also recently replaced an older car and was looking at CPO vehicles. In my budget, the CPO cars offered some savings, but there was little done in the way of checking the car over. Like you, I was looking for a small all-wheel-drive SUV, and on this vehicle, one tire was new and the other … [Read more...] about Should I buy a certified pre-owned car?
The promise of premium used vehicles is an attractive one, but how do these plans work? Many car companies and their dealers have recognised the merits of offering 'certified' late-model used vehicles, billed as the best-of-the-best in the secondhand market.Aggregating programs of this type might be especially useful to people who don’t have a mechanically knowledgeable friend to help them look at potential used buys.These are used cars with good histories, subject to mechanical checks from brand mechanics, backed up by warranties if the transferable new-car coverage has lapsed.It’s not just premium brands such as Mercedes-Benz and Porsche offering programs of this sort. The likes of Toyota and Volkswagen also offer ‘certified’ used or pre-owned cars on their homepages, usually ex-company cars and trade-ins.Buying a late-model Corolla is pretty low-risk, so you may rightly baulk at cutting private sellers from your shortlist. But there's clearly merit in … [Read more...] about Certified or approved used cars explained
The internet has changed the way cars are bought and sold. It’s now a lot easier to figure out who has the best deal on a new car, but used cars are more complex. A lot of buyers get frustrated when they run into walls asking for large discounts on used cars. Here’s why that happens. I’ve mentioned in several previous articles that used car shopping is more about finding the best overall value on the market rather than focusing on the largest discount off the asking price. I find myself fielding a lot of emails where I end up explaining that a dealership that’s holding firm to their asking price or is only offering a small discount is not, in fact, ripping them off. New cars simply have more wiggle room: more deals, more incentives, more factory rebates, better financing terms and more options on the lot, just to name a few. This isn’t the case with used cars. Online pricing comes down to two basic factors: the market price for a given vehicle and how … [Read more...] about Here Is Why You Shouldn’t Expect A Big Discount On A Used Car
Although not quite as varied as cars themselves, auto loans come in many shapes and sizes according to the lender, the needs of the borrower and the vehicle in question. So many variables can result in greatly different loan processes and structures, but here are the main types of car loans explained. Secured auto loans The car acts as collateral for the debt so, if the borrower fails to make payments, the lender can repossess the vehicle and resell it to recoup its losses. A lien is the legal arrangement that makes this possible. The lender is listed as lienholder on the vehicle’s title which gives it the right to possession of the vehicle until the loan is repaid. Most auto loans are secured loans. Unsecured auto loans Without collateral for security, the lender is more reliant upon the borrower’s promise to repay the debt. Unsecured auto loans are less common and may come with higher interest rates than secured loans. Simple interest loans Interest is calculated on … [Read more...] about Different types of car loans explained
Average monthly payments are $515 for new and $371 for used vehicles Rising car prices contribute to higher payments but longer loan terms temper the monthly increase Auto finance calculators will help estimate what may work for you With a car payment likely to be one of your highest monthly expenses, it’s important to know what you may be able to afford before financing a vehicle for the next several years. Rising car prices make buying a new vehicle more challenging for many Americans and, along with increasing loan amounts, have contributed to the current trend of higher monthly payments. Average loan amounts are up to $31,099 for new and $19,589 for used cars, according to Experian data for the last quarter of 2017, and the average car payment is $515 and $371, respectively. So buyers are increasingly turning to longer loan durations to offset these costs and make their payment more affordable. New and used car loans have crept up to 69 and 64 months on average, while … [Read more...] about What is the average car payment, and what can you afford?
Just as new car shoppers do, used car shoppers want the best car they can buy at the lowest price. But used cars are evaluated differently than new cars, and CarGurus thinks it has the answer. “With our Best Used Car Awards, we’ve identified the vehicles that stand out in their categories in terms of value, quality, and availability,” said Matt Smith, Senior Editor at CarGurus. “For people shopping for a great used car, these award winners are definitely worth a close look.” The online automotive research and car buying company has divided the used car marketplace into 10 different categories, and has analyzed recent-year used vehicles in terms of their long-term value retention, popularity and availability, driver satisfaction, and expert reviews. In each of the 10 segments, it names three award winners, for a total of 30 models. In the interests of full disclosure, I have been a contributing writer to CarGurus for half a decade, reviewing many of the … [Read more...] about What are the best certified pre-owned (CPO) used cars, SUVs, and trucks? We name 10 high-rated models
If you are in the market for a used car, you may be able to get the best price by looking for special pricing and incentives. Many car manufacturers offer incentives when people purchase certified used cars from participating dealers. Certified pre-owned incentives are reduced-rate loans offered by manufacturers to qualified buyers of CPO vehicles. Taking advantage of these incentives is a great way to lower the overall price of a used vehicle. All financing offers listed here are available nationally at participating dealers unless noted otherwise. Not every buyer will qualify for this discount financing. If you are shopping for a used car, contact your dealer for details. June CPO Incentives Acura: $500 college graduate bonus, $750 military appreciation offer on select vehicles; offers end July 31 Audi: Not available Bentley: Not available BMW: 0.9 percent APR for 24 months on 2014-15 BMW models, ends June; 0.9 percent APR for 24 months plus no payments for … [Read more...] about Latest Certified Pre-Owned Incentives by Automaker
A Dutch firm may be first to hit the skies with a flying car. Pal V reckons it has cracked the flying car code and will show off its production flying car at the Geneva International Motor Show. Dubbed the Liberty, it will enter the final stages of certifying the car for road use and flight after the show. Unlike others that unfurl wings, Pal V’s Liberty is more like a helicopter. It drives on three wheels, and it takes about 10 minutes to activate flight mode. The transformation is a manual affair, so don’t expect to be cruising down State Highway 1 and gracefully take off at the push of a button. The Liberty employs a 74kW internal combustion engine, sufficient for a top speed of about 160km/h. In the air it will do around 180km/h. Pal V estimates a range of 457km on the ground and just shy of 500km in the air with a single occupant. Liberty transports just two people. "This is the moment of truth," said Pal-V CEO, Robert Dingemanse. "All certifications required … [Read more...] about Flying car scheduled for Geneva