Report: Late model used cars are safer

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Posted in Auto Industry News

That late-model used car you’ve been eyeing may have gotten better, at least in the eyes of some insurance companies.

A new report released by the Insurance Research Council has found that used cars with front and side airbag systems have a “beneficial impact” on auto injury insurance claim costs.

The increase of automobile safety was found in 2007 vehicles that filed various claims when compared to older models, such as ones from 1990 or 1980, where only seatbelts were found in the car, according to the report. Among the 2007 cars, 82 percent had front and side airbags, suggesting cars from that year and onward may be a safer used car to purchase.

The presence of the airbags was associated with less significant injuries and lower claim costs when the vehicles were involved in a crash.

“Motor vehicles are becoming safer, and these improvements are having a noticeable impact on the seriousness of injuries and the ultimate cost of auto injury claims,” said Elizabeth Sprinkel, senior vice president of the IRC. “These favorable trends have helped offset some of the pressure caused by the accelerating cost of medical treatment for auto injuries.”

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Heidi Klum shows off German engineering

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Posted in Volkswagen - DO NOT USE

Recently, the public got to revere a German model with some sleek curves and showing off a new look. And Heidi Klum looked nice as well in her vintage dress and shoes.

The 35-year-old German model was recently on hand to show off her new pink customized Volkswagen Beetle at an event celebrating Barbie’s Malibu Dream House 50th birthday party.

Klum, the Emmy-nominated host of the popular television show Project Runway, is having what some may describe as a very good spring. Her reality show is scheduled to return to Lifetime, which will most likely enthrall fans of the reality show that pits unknown fashion designers against each other to see who’s “in” and who’s “out” in the fashion sense.

However, in terms of transportation, it could be argued that the Volkswagen Beetle has always been in style with its innovative rounded look and eye-like headlights.

The 2009 Beetle, which according to Edmunds.com has no significant changes from the past model, sports 150 horsepower with a 2.5 liter five-cylinder engine and 170 pounds-feet of torque, giving the seemingly smallish car enough power to make it one of the more exciting cars to drive.

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Man drives across country in used car

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Posted in Pontiac - DO NOT USE

While recent reports have pointed to the durability of fairly new used cars, one man is proving that even a car from the 70s has the ability to take on the road.

Chris Hedgecock bought a 1974 Pontiac LeMans approximately two years ago and is currently driving it across country, WDSU.com reports.

“When we got it, the battery was bad,” Hedgecock told the news provider. “We went ahead and got a new battery from Wal-Mart. We did a little homemade ducting work on the air intake. We replaced all the fluids, replaced the belts.”

After about $200 in repairs, Hedgecock said he was ready to tackle his road trip from San Diego to Miami, according to the article. So far, he has reported no mishaps or problems with the more than 30-year-old car.

Though it may be an exception to find an older car that runs as well as Hedgecock’s, many people have found used cars of recent vehicles to experience the same, problem-free ride.

Some car experts say new used cars can last up to 200,000 miles before needing any major work done, states Consumer Reports.

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GM auction halted by government

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Posted in Auto Industry News

It appears that the auction General Motors had planned to rid itself of about 100 classic cars it had in storage and raise money for the failing automaker has been called off by the National Highway Transportation and Safety Administration (NHTSA).

GM, along with Barrett-Jackson Auction Company, was planning on auctioning off cars which it housed in its Heritage Collection.

Both companies have pointed out that many of the cars would not be able to be registered and would be sold with salvage titles as they would not be street legal vehicles, but apparently the federal government is concerned that people who purchase the cars will try to get them registered anyway.

Edmunds cites a story from Sports Car Market which says the NHTSA has halted the auction in Florida for fear of the rogue registration attempts.

A GM auction in January went through without reprisals from the federal government. At that auction more than 200 vehicles were sold including a 1969 Reggie Jackson Camaro which in a 2007 review Edmunds.com called “pure vehicular violence,” “a cranked-up 24-hour high,” and a “rolling onslaught of rawness.”

A used car could last well over 100,000 miles

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Posted in General Auto News

In the past many people were leery of buying a used car because of the mileage on the vehicle, but today’s cars are more reliable than ever before meaning it might be possible to drive them well over the 100,000 mile mark.

John Ibbotson, a supervisor at the Consumer Reports Auto Test Center, told MSN Money that over the years the life-span of cars has increased dramatically.

Ibbotson says that 100,000 was the limit of most cars through the 1970s, but the number began to shift upward through the decades. By the 1990s, cars were able to handle up to 150,000 miles before an engine went. Cars of today, Ibbotson says, might be able to handle up to 200,000.

What this means to a used car buyer is that a properly maintained late model used car with high mileage is probably not as scary as it would have been 20 years ago.

Maintenance is always an important factor in keeping a car running and Ibbotson says one of the most important things used car owners can do is read the car’s manual and stick to the scheduled maintenance in the book.

Jesse Toprak, an analyst at Edmunds told Dow Jones last month that used cars are better than they were in the past.

“[Consumers are] realizing that the used cars of today are not the used cars of a few years ago, and that realization is not positive for new car sales,” he said.

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The Honda Fit makes a fun, and green, used car

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Posted in Honda - DO NOT USE

With tax day right around the corner, many Americans could be seeing some tax refunds in their mailboxes soon which could go toward the purchase of a used vehicle. For people looking to be frugal and environmentally conscious – while still having a fun ride – there are some options.

According to Jim Motavalli, a contributor to the New York Times and blogger for Mother Nature Network, there are a number of used cars people should consider if they’re looking to save money and the environment.

Motavalli’s first choice is the 2007-2008 Honda Fit, which he admits he owns himself.

“[T]he Fit combines great performance from its 1.5-liter engine, very crisp handling, and incredibly versatile cargo capacity. The rear seats fold flat, and the car’s tall stance affords both great visibility and sofa-swallowing load potential,” writes Motavalli. “My dealer sent a letter recently begging me to trade in our car, because ’07 used examples are in short supply.”

The Kelley Blue Book website says a 2007 Honda Fit with 30,000 miles and in excellent condition will run around $14,585.

For that price a buyer is likely to get some pretty good gas mileage as the site says the car gets an estimated 31 mpg in the city and 38 mpg on the highway.

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Motorists paying less to own a car

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Posted in General Auto News

Lower costs at the pump have many used car owners thinking they’ve been saving money, but the AAA says motorists have seen an insignificant drop in ownership so far this year.

According to the automobile association, drivers currently spend 54 cents per mile – 0.1 cent less than last year.

The AAA’s Daily Fuel Gauge Report says the average price of regular unleaded gasoline is at $2.047 per gallon, far below the $3.331 motorists saw a year ago today and less than half the $4.114 consumers paid for a gallon last July.

Marshall L. Doney, vice president of AAA Automotive, says that while gas prices have dropped significantly from a year ago, drivers are facing increases in other automotive expenses.

“While motorists are experiencing relief at the pump, those savings have been countered by revised Environmental Protection Agency fuel economy estimates and increases in vehicle ownership costs such as insurance premiums, depreciation, finance charges and other fees and taxes,” he said.

In what may be surprising to some, the cost of ownership of an SUV has actually fallen 1.9 cents per mile, according to the report. Although they have seen a rise in depreciation and insurance costs, SUV owners pay 68.4 cents per mile – or $10,259 per year – to own their vehicle.

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Credit score is important to getting a used car loan

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Posted in Auto Loans & Financing News

The credit of many Americans has taken a hit during the current recession. But for those attempting to get a loan for the purchase of a used car, there are some steps to take.

According to Edmunds.com, one of the first things a used car buyer should do is check his or her credit report to make sure they can qualify for the best rates.

The higher your FICO score the more likely you are to get a loan – and the more likely you are to get a good deal. Although Edmunds says the national average FICO score is somewhere around 675, car buyers can improve their score if it falls below that level.

Lucy Duni, vice president of consumer education for TrueCredit.com tells the website that although it’s nearly impossible to drastically improve a credit score in a short period of time, making payments on time on outstanding debts can improve a credit score in just a few months.

Although lenders have become stingy with funding over the last year, it may soon be easier for everyone. Last week GMAC announced it would open new lines of financing to car buyers and would begin financing the purchases of people with credit scores below 620.

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Queen Latifah’s Lexus looks damaged

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Posted in Celebrity Auto News

Even celebrities sometimes have car problems which leave them without their means of transportation for a few days. According to one blogger that’s the case with Queen Latifah and her Mercedes.

According to the LexusNet Blog, Latifah’s Mercedes-Benz S-Class was seen with some serious damage to its passenger side recently.

The blog says a tow-truck driver reported that he pulled the car out of a ditch, and from the looks of pictures, the car appears to have suffered most of the damage to its passenger side.

LexusNet Blog says that the major problems with the car appear to be with the suspension, control arm oil cooler and right front wheel.

U.S. News & World Report ranked the 2009 Mercedes S-Class as its number two car in the “super luxury” category – just behind the BMW 7-Series.

According to the magazine, the car ranges from between $90,000 and $200,000 depending on options and can apparently do 0-60 in about four seconds. Like many in its category, the S-Class is not a gasoline sipper as the S550 has an EPA rating of 14 miles per gallon in the city and 21 on the highway, says the magazine.

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GM to auction classic cars to raise funds

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Posted in Buick- DO NOT USE

It’s no secret that times are tough for General Motors, but now it seems that the country’s largest automaker will need to auction 100 or so classic used cars to make ends meet.

The Los Angeles Times reports that GM will be selling about 100 antique and show cars in an effort to raise money for the failing automaker and to reduce warehousing costs.

Included in the list of cars to be auctioned, according to the paper, is a 1920 Chevrolet Model T truck and a 1978 Corvette Indy 500 pace car – one of only four in existence.

This will be the second time this year that the car company will be auctioning off some of its collection. In January GM sold more than 230 of the cars in its collection, including a 1996 Buick Blackhawk Custom which sold for $522,500.

It is unlikely that the company will sell off any of the one-of-a-kind vehicles it owns and is attempting to rid itself of the many duplicates it currently houses.

“We realized that we had a lot of duplicates and cars that we could do without,” Greg Wallace, manager of the General Motors Heritage Center, told the paper. “We had three GTOs. We figured, ‘Do we really need three?’ We decided to keep the best one.”

According to its website, GM’s Heritage Center houses more than 200 vehicles on display along with many other documents and products from GM’s history in its 81,000 square foot space in Sterling Heights, Michigan.

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