Posts Tagged new auto
Planning On Purchasing A New Car?
Posted by in Uncategorized on December 1, 2009
If you are planning on buying a new auto and you decide to finance it, be aware that the financing obtained by the dealer, even if the dealer contacts lenders on your “best interest” may not be the best bargain you can get. If you decide to trade in your old car (not the best advice) make sure you discuss the possibility of a trade-in only after you have negotiated the best possible price for your new car, and after you have researched the value of your old car. Before going to the dealer’s sales floor, make sure you research about what car model and options you desire, and how much you are willing to pay.
Price
Get a free dealer price quote online. Shop around to get the best available price by comparing models and prices in advertisments and at dealer showrooms. Because the price is a key factior in the dealer’s calculations regardless of whether you pay cash or finance your car, and also affects your monthly payments, negotiating the price can save you money. Generally, the invoice price should include freight (also known as destination and delivery). Base Price is the cost of the car without options, but considers standard equipment and factory warranty. Sometimes, dealers offer very low financing rates for specific cars or models, but may not be willing to negotiate on the price of these cars. Remember that a warranty is included in the price of the car while a service contract costs extra.
Dealers
Always take into account this: Dealers may be willing to bargain on their profit margin, around 10 and 20 percent. Dealers should never know more about your credit than you. However, dealers often want to sell their current inventory quickly, so you can negotiate a good deal if an in-stock car meets your needs. Dealers know their game way more than you do. Think about it, they do it every day. You will do it maybe 5-8 times in your whole life. Be attentive, and better yet, visit cardealerexposed.ecuawebsite.com
Credit
If your dealer requires you to buy credit insurance for car financing, it must be included in the cost of credit, but DON’T DO IT. Before purchasing a new car, you HAVE TO get your credit report and credit score from Experian, Equifax or True Credit. They rely on dumb car buyers who don’t know their own credit score and don’t research before they buy a car.
Most people know their blood pressure and cholesterol level, but few know their own credit score. Show up at a dealer without knowing your credit score, and you might as well give them your credit card.
I don’t use the free government mandated credit report site because they do not give you the credit score. Even if you have previous bankruptcy, tax liens, or bad credit, as long as your credit score is 525 or above, and bankruptcies have been discharged, your chances are good. Write on the copy: the dealer may NOT run a credit check on you.
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Porsche To Start A New Auto Empire
Posted by in Uncategorized on November 29, 2009
Europe will see the rise of a new automobile empire. The much-anticipated conglomeration will be composed of Porsche, Volkswagen, and Scania.
Porsche Automobil Holding SE was given the green light by its board Monday to acquire majority stake in Volkswagen AG which owns Audi, Skoda, Seat, Lamborghini, Bentley and Bugatti brands. VW, meanwhile, said it will take a controlling interest in Scania, a Swedish truckmaker. This also means Porsche is in a position to absorb Scania with MAN AG, a German truckmaker which Volkswagen holds 29.9 percent, reported the Associated Press.
VW Chief Executive Martin Winterkorn said Volkswagen will focus on synergies with Scania AB, mainly in purchasing raw materials such as steel as well as research and development and electronic components.
Analysts in the industry said the deals are aimed at accumulating more wealth. The deals also strengthen the control held by the grandson of Porsche founder – Ferdinand Piech. He is the chairman of Volkswagen and MAN supervisory boards.
The maker of Porsche parts has been gradually increasing its stake in Volkswagen for more than a year and won a significant victory in 2007 when the European Union’s highest court promulgated a decision that the German government had to remove a cap on voting rights at VW.
“Volkswagen has announced that they’re taking a majority share of Scania. Next they could upgrade their stake in MAN to a majority stake, merge the two companies into a Volkswagen Commercial AG and sell that to Porsche SE. Then they could hand back to Porsche … or to their stock owners, a special dividend from the revenues of that sale,” said Christoph Stuermer, an auto analyst with Global Insight.
In a statement, Porsche said the reviews by the regulatory authorities are expected to take several months. And when requisite clearances are finally acquired, Porsche can take majority stakes in Volkswagen. The statement added that Porsche does not intend to merge the two companies.
“Our aim is to create one of the strongest and most innovative automobile alliances in the world, which is able to measure up to the increased international competition,” said Porsche Chief Executive Wendelin Wiedeking.
Were a tie-up happen, VW and Scania would effortlessly upstage giant rivals such as Volvo AB and Daimler AG, Europe’s largest truckmaker.
“It shows the trust that the people in Porsche AG have in Volkswagen,” Winterkorn noted at the Geneva Motor Show. “It means a lot of interesting things in the future.”
