By Peter M. DeLorenzo Detroit. I will admit that at times it seems like the auto business operates in a dimension that defies comprehension. Powered by its relentless, cyclical nature, this business careens from crisis to crisis on a roller-coaster ride marked by euphoric highs and devastating lows. The highs are so seductive that the players involved start believing that the good times will never end. They’re the, “We’re finally going to buy that vacation house up north” or, “It’s time to finally get that Shelby Mustang GT500” kind of highs. Big sales, plus big bonuses equal bigger dreams and big spending because, after all, this is how the people immersed in this business 24/7 get to enjoy the ride. And there’s nothing wrong with that when it comes right down to it. But predictably – and inevitably – those soaring highs are balanced out by crushing lows. The kind of lows that alter people’s thinking and … [Read more...] about THE MOST DANGEROUS COMPLICATION.
What trades make the most money
Richard Parker locked down a job at a Ford plant in the Detroit area, and, like most residents of the region, needed a car to get to work. It was 1991, and at the time he had shaky credit, so it was plenty difficult finding a company willing to lend him money for the purchase. That changed with Credit Acceptance Corporation, one of the largest subprime auto lenders in the U.S. But he never imagined he’d spend the next two decades paying for it. In May of that year, Parker went to a dealership owned by Credit Acceptance’s founder, Don Foss, in Redford, a Detroit suburb that borders the city’s west side. After talking it over, a salesperson at the dealership scratched out an agreement for Parker to purchase a grey 1988 Chevy Blazer for $16,000. Parker put $3,390 down up front; Credit Acceptance agreed to finance a $9,198 loan at 22 percent interest, meaning Parker would have to pay about $3,500 in additional finance charges over the life of the 36-month loan. The … [Read more...] about The Car Loans That Never Die
Your car may be the most valuable thing you own. You’ve worked hard and made many payments to get that title. Whether looking for a new vehicle or just letting go of the monthly gas expense, you deserve to get the most you can out of selling your car. To this end, we’ve put together 12 no-fail steps to help you get the maximum money possible from a buyer. Step 1: Selling Your Car Starts With Documentation Used cars are harder to sell to private individuals. Most people worry that there may be something hidden in a vehicle’s past that could lead to major repairs or make it unsafe to drive. What you need to do is ease their concerns with as much documentation as possible. There are a few ways of doing this. You can provide all of your maintenance and repair records, and you can purchase a CARFAX report to show potential buyers. 1. Gather up those repair and maintenance records if you have them. This shows that you’ve given the car regular oil changes, tune ups, … [Read more...] about The Ultimate Guide To Selling Your Car For Top Dollar
It’s a well-known fact that if you trade in your car, you’ll probably get less money for it than you would by selling it privately yourself. However, the “for sale by owner” route can take a lot of time and effort, oftentimes more than people are willing to invest in the process. That’s part of why nearly half of all car purchases include a trade-in. But what can you do to get the most money for your trade-in? Here are 8 tips you can use now to do exactly that. 1. When You Trade in Your Car, Keep the Trade and Purchase Negotiations Separate It’s a common question people ask when they decide to trade in a car: How can I get the best value for my trade? One of the most important things you should do is keep the negotiations about your trade-in as separate as possible from negotiating the price of your next ride. The next question is to figure out which one happens first. Some argue for negotiating the price of your next vehicle first, then figure out … [Read more...] about How to Get the Most Money When You Trade in Your Car
Looking for the right insurance policy and insurance agent online can seem easy; all you do is enter your information and find a quote. With all the information at your fingertips, you may believe you can easily find deals that can save you a substantial amount of money per month on premiums. Finding the right insurance agent requires a diligent process. However, many people find insurance agents are still the best way to save money on insurance. Although there are many quotes available on the web, a licensed agent is aware of details the layman may overlook and may be familiar with special deals. Locating an Insurance Agent There are several effective ways for finding an insurance agent. You can browse the web for agents in your area. There may be no telling what kind of agent you will find, whether he or she is an experienced or licensed or what kind of track record they have. You will need to do some digging and find out on review sites what past clients have said about him or her. … [Read more...] about What an Insurance Agent Can Do for You