A lot of bubbles burst over the past two years besides those on Wall Street, the Banking Industry and Real Estate.  Auto Leasing companies absorbed losses in off-lease vehicles due to overly optimistic residual values, (the guaranteed amount that they agreed to buy back the vehicles for at the end of the lease which was factored in when the lease was originated), when the auto industry shrank along with the economy.  The resulting losses in the wholesale market and lack of ability for auto dealers to retail out of the lease returns forced domestic manufacturers and independent leasing companies to either cancel their leasing programs completely or to reduce their residual values so low that the payments were more than conventional financing.  Basically, for most lenders and customers, leasing effectively died last year but it is staging a recovery of sorts that shows some life in the option that might interest payment buyers and automotive advertising agencies anxious to find ways to offer more for less - per month that is.

Chrysler, for example, has announced that they will be putting their toes back in the troubled leasing waters with some sub-vented leases, (subsidized residual values above expected resale at lease end and reduced money factors), that will offer competitive payments on some of their new models.  All of the details haven’t been released but the story has been announced in the mainstream media and you can expect factory marketing campaigns to start mid-September. Read the rest of this entry »

Buying cars and selling cars are two sides of the same coin.  If you are buying a car the odds are that you are also selling a car; unless you walked to the car dealership, you just got your driver license or you live in Manhattan where a parking space costs more than a small country!  The point is that the car buying public is usually also selling used cars either to car dealers as a trade-in or to another consumer who prefers buying used cars rather than new cars.   In all cases the answer to “How Much Is My Car Worth” can’t be found on most dealer websites - although a multi-franchise / multi-dealer website like everycarlisted.com will prove to be an excellent guide.  The fact is that the value of used cars and used trucks can only be determined by the market.  If you are a car dealer selling sports cars or Pre-Owned Certified Cars, or a consumer selling a car that has been a loyal member of the family, all you need is to do a little home work so you can negotiate using facts vs. emotions.

As a former auto dealer and author of a book, “How To Buy A Car” followed by another one, “How To Sell A Car,” I have developed a unique respect for both sides of the negotiation table.  Add the time that I have invested as the host of an automotive advertising resource / networking site - http://AdAgencyOnline.Net - to those experiences and I am confident that I can help both sides of the negotiation table wind up with the right deal.

To simplify matters I suggest that you refer to the following list of relevant observations before you jump in your car with your trade-in keys in hand, hit the World Wide Web with your credit card at the ready or presume to price your new car or used car for sale: Read the rest of this entry »

Don’t tell anyone, but the economy is in the tank.  Home sales are down and property values are falling.  Auto sales are also down and auto dealers are faced with excess inventory and reduced profits.  Wait a minute - let’s think about that last line!

I may be wrong, but if sales are down and dealers have more new cars and used cars than they can afford to stock wouldn’t that be a good time to buy one?  The answer is - YES!  Of course buying a car can still be a challenge but if you were selling a car right now wouldn’t you be more receptive to an offer - any offer?  Sure you would and car dealers are people too! Read the rest of this entry »

Having worked in the trenches of auto dealers, I would like to share with you what I told every pre-owned shopper that I’ve ever spoken to.  “If I were going to purchase a pre-owned vehicle, I would make sure it is certified.”

This was not some salesperson’s ploy to charge customers more.  Truth is, the cost of a certified vehicle opposed to a non-certified is not a significant difference, but there is the potential to be a major difference mechanically.
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In one of my former lives I wrote a book titled “How To Buy A Car - The Inside Story, Ex Dealer Tells All” which was quickly followed by its sister book, “How To Sell A Car - A Career Guide To The Car Business.”  Frankly, I wrote the sequel so my friends in the car business wouldn’t feel left out, but it surfaced the insights that I will share with you about how to buy a car or sell a car online.  My publisher’s first thought was to print the books together, you know, like they do with operating manuals in English and Spanish where you hold it right side up for English and upside down for Spanish but we agreed that we would make more money if we sold them separately.  After all, business is business and two sales are better than one!

Both books recognized that to sell a car a professional car salesperson needed to understand and respect the customer’s needs and inversely the customer would often get a better deal and a more enjoyable shopping experience if they developed a good relationship with their salesperson.  Tip one on how to buy a car or sell a car online is drawn from the fact that people like to do business with people that they like.  The first investment that should be made is in the relationship between the buyer and the seller.  That logic applies to both sides of the negotiation table and it starts with the first impression that both parties give and get. Read the rest of this entry »

The summer is upon us.  That means it is time for legions of parents to grab the kids and embark on the annual summer getaway.  With the downturn in the economy, more and more people are choosing to take the age-old road trip opposed to flying.  So is it that easy to just pack up the family roadster with luggage, hop in, and set off?  Not so much.

Family motoring is an art form.  If you are taking a long journey with the kids, here are some useful tips to keeping the kids entertained.

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