Creating Wealth & Success

Ambiguous Hyundai Promotion!

Okay…let’s see how this one works, because this one…well

Hyundai’s new commercial promises to give you $1000 more than your trade-in is worth.

For those who are not immediately saying “wha—?”, let me shed some light here.

I know of at least 6 different sources that are used by dealers to help evaluate trade-in values.

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Peter Robinson, our official Car Buying Expert

CAR FU: Car Buyers Can Take This to the Bank

One of the first things that a Finance Manager trainee begins to learn is something called ‘credit union conversion'. Dealerships spend millions of dollars and many hours of training time on this most important of disciplines, and the reasons are many and varied. It is not wrong for them to attempt this, nor is it evil; it is simply good business. Of course, that doesn't mean you have play along!

When a person obtains their own financing through a credit union, very often they are limited in the amount of funds that are approved. Additionally, they may have stipulations concerning ‘back end products', including-but not limited to- such items as service contracts and GAP policies.

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Peter Robinson, our official  Car Buying Expert

How Stupid Do They Think We Are?

Ahhhh..the Car Biz. Ya gotta love it.  Sometimes you can actually smell the subterfuge.
Here is my new favorite, at least until tomorrow.  Nissan Corporation.
Excellent car company. Builds Infiniti, very hot brand.  Maxima–great car. GT-R–Motor Trend Car of the Year.  So…why this: ” Hurry Folks! Don’t miss our end-of-the-model year sale going on now.

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Peter Robinson, our official Car Buying Expert

Is the ‘Cash For Clunkers’ Program a Clunker?

The Consumer Assistance to Recycle and Save Program (C.A.R.S.) aka ‘Cash for Clunkers’ begins on July 24th. This is a government program that will provide between $3500 and $4500 to folks trading in a car with poor gas mileage to buy a new car with better gas mileage.

Only vehicles that are 1984 or newer, average 18 miles per gallon (mpg) or less (according to fueleconomy.gov), and have been registered and insured for at least a year will qualify.

The vehicle for purchase must be NEW. If it gets 4 mpg more than the ‘clunker’, it qualifies for a $3500 rebate, 10 or more and the rebate tops out at $4500. For a complete description and a list of eligible vehicles, visit www.fueleconomy.gov .

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Peter Robinson, our official Car Buying Expert

CAR FU: Appreciating Depreciation

When folks heap praise upon their own brilliant choice of vehicles, sometimes they will point out that the car they drive will run for 400,000 miles. Or 500,000 miles. Or some other number only of interest to employees of the Guinness corporation. The book, not the beer.

While the potential that certain vehicles have to continue to run long after others have been mourned and forgotten is clearly indicative of a superior car, what does it really mean to you? To put it another way, do you care how many miles it runs after you have left it behind? How is that high-school girlfriend of yours doing today? Don't know? Exactly.

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Peter Robinson, our official Car Buying Expert

CAR FU: There Will Be Blood

" Ayuh, storm a-comin' . . . "

Cold wind is blowing, change is in the air . . .

Your cliche' (here).

Be very careful about leaping to conclusions as the next few weeks play out. Dealer incentives to sell vehicles and clear their lots will likely change in the next month significantly.

New vehicles that are deeply discounted (or seemingly so) will likely depreciate equally dramatically, negating any real advantage to the buyer.

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Peter Robinson, our official Car Buying Expert

CAR FU: Of Fine Print And Flim-Flam

No one would ever accuse auto dealers of being overly transparent in their dealings with the public, but there are times when the misdirection and malfeasance reach truly epic levels.

A few years ago, you could not turn on the TV without being overwhelmed by yelling, preening , cartoon-ish car salesmen touting their "no money down, easy payments, we will buy your trade etc., etc."

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Peter Robinson, our official Car Buying Expert

CAR FU: Will This Economy Shrink Our Cars?

After a temporary adjustment due to gas-price panic, Americans will likely return to buying the style of vehicle that most suits their needs and their desires.

For a family of four or more, anything less than a decent-sized SUV will seem inadequate because it IS inadequate. Americans have a wide selection of leisure activities available to them, and many of them require a considerable amount of cargo space.

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Peter Robinson, our official Car Buying Expert

CAR FU: New Grading System for Car Ratings

The latest J.D. Power rankings of initial quality reveals some interesting things to the objective observer. These figures represent the number of problems per 100 vehicles. Here are the 2008 rankings for the 36 top nameplates:

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Peter Robinson, our official Car Buying Expert

CAR FU: Ladies, Start Your Browsers!

Peter Robinson, Our official Car Buying Expert says:

Among all of the many emotions involved in the process of car buying, 'fun' is rarely mentioned. Must this be the case?

It has always been my contention that fun needs to be a part of the process, that once we have made the difficult decision to spend all that money, it HAS to be made an enjoyable experience.

During the (instant classic) Cadillac commercial for the CTS, a clear eyed and confident woman is behind the wheel.

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