AutoBidsOnline - Current Car Shopping News

Expert Opnions on Toyota

2010-03-05T08:23:00.000-08:00

Dr. Mike Smitka is one of the world-renowned experts on the Japanese automotive business. I met him through David Ruggles who shares the rights to their AutosAndEconomics blog on Google Blogger.

Check out Smitka's latest take on Toyta and let me know what you think!

Pictures from 2010 Dallas Auto Show

2010-03-04T07:09:00.001-08:00

Attended the opening of the 2010 Dallas Car Show. There are some great new rides out there. I hope you enjoy the pictures!

http://www.flickr.com/photos/autobidsonline/sets/72157623428937487/

Vehicle Leasing Rebounds

2010-02-25T07:11:00.001-08:00

Great news on the indirect consumer leasing front. It's been a long way since the crash of July 2008.

Jim Henry reports some green shoots are beginning to show in an article posted at BankRate.com. On the heels of the Toyota debacle, this is certainly great news!

Something's Not Right

2010-02-06T04:38:00.000-08:00

After Toyota's dramatic decision to halt sales on its eight biggest selling models, it announced yesterday that it would begin selling again - provided dealers have enough parts to repair existing customers vehicles first.

http://www.autonews.com/apps/pbcs.dll/article?AID=/20100205/RETAIL07/100209917/1290

Surely this is a smart decision for the manufacturer who has blundered its PR management heretofore.

However, a voice in the back of my mind is wondering how a postage-stamp sized metal shim is going to truly fix this problem.

Personally, I've used shims to shore up non-moving things like cabinets, dressers, etc... But an accelerator is a moving part, in a vibrating car that bumps its way down the road.

Am I wrong, or does this seem like the little dutch boy trying to plug the dike with his fingers?

2008 Carver 56 ft SE Voyager - Calista Ann

2010-02-01T05:40:00.001-08:00

OK. This does not technically fall into "Everything Autos" but it is owned by one of my clients in Automotive Leasing.

I had the pleasure of taking her out last summer and she is the bomb. With just 30 hours on the Twin Volvo 675 Diesels, she's as close to new as you can get.

Combine that with a $500k savings off of a comparably equipped new model, and you've got a once in a lifetime opportunity on a truly seaworthy motor-yacht.

Sail the British Virgin Islands, make a trip from the California west coast, down to Cabo, Honduras, Costa Rica and Panama. With this gal can do it in style.

AutoBidsOnline Rising - An Open Letter To New Car Dealers

2010-01-28T14:41:00.001-08:00

Have a look at our new video - let's get the online new car buying craze started!

Seller Beware!

2010-01-25T06:40:00.000-08:00

Long time away from the blogging scene. With the holidays and hunting season in full swing, it's been a busy December and January. Alas, my hunting seasons are mostly over and the corners of my mind are again filled with all things auto retail.

And with that, another disturbing online scam is surfacing as told to me by good friend David Ruggles of the Ruggles Report.

In short, DO NOT trust the validity of any bank cashier's check without first verifying the funds with the distributing bank. With current technology, even a cashier's check is easy to forge and it is YOUR responsibility to verify its validity prior to deposit.

The cashier's check scam can occur with any online sale. However, the inherently high price of a vehicle lends this to remarkable exposure for those wishing to sell cars online.

In the case told to me by Ruggles, members of his Mercedes owners club in Las Vegas, who have posted cars for sale online (i.e. Craig's List, eBay, etc...) have received emails from foreign buyer's saying they saw the car online and it is exactly what they've been looking for. They are willing to pay full price and arrange for transportation.

They state they will send a cashier's check for the amount of purchase plus shipping. All the buyer needs to do is pay the shipping agent upon pick up and deposit the cashier's check in their bank account.

This all seems easy and quite reasonable.

DON'T DO IT! At least without dotting your I's and crossing your T's.

Be very suspicious of someone willing to pay your price in full without ever seeing the vehicle. Be aware of complicated stories about why they are willing to buy the vehicle sight unseen or if they don't make any effort to confirm the car's condition.

Otherwise, you may find yourself without your car and out the money you paid to the shipping company.

North Texas Suzuki Dealership's Better Business Bureau Accreditation Dropped

2009-12-21T11:43:00.000-08:00

Per the local CBS station, Suzuki Cars of McKinney has been dropped by the Better Business Bureau for unethical business practices. A large volume of customer complaints led to a BBB undercover investigation as CBS 11 reports:

http://cbs11tv.com/local/Suzuki.Cars.of.2.1379440.html

It is stories like this that give dealers everywhere a bad name. And it's a shame.

You would think some people would learn they need to do business the right way.

How To Buy Your Next New Car Online And Get Best Possible Price

2009-12-18T09:35:00.000-08:00

A friend just sent me a link to a presentation by a gentleman named Rob Gruhl at the Ignite Conference in Seattle a few years ago.

http://consumerist.com/2009/12/buy-a-new-car-without-getting-ripped-off.html#comments

It's quick, clear and concise and hits on some great points. Very well done.

Selfishly, almost everything he is touches on are the consumer pain points that led to our creation of AutoBidsOnline.com. Watch the video and pay particular attention to the following:

Says Rob: Give yourself a lot of time - two full weekends.
Says ABOL: Screw that. Use online dealer competition to minimize your time.

Says Rob: Get pre-approved for financing from local bank or credit union.
Says ABOL: Absolutely! The dealer may have better financing but you need to have a pre-approved loan (or cash budget) prior to negotiations.

Says Rob: Don't trade in your old car at the dealership.
Says ABOL: Absolutely - if you have the stomach and financial ability to sell privately. However, if you don't want to go through that hassel, at least get a guaranteed buy bid from CarMax and/or AutoTrader. Your local bank or credit union may give you a bid as well. If the dealer will match your best price, then it will be much easier to trade with the dealer. He does the title work and pays off any existing loan. Just make sure you are getting a reasonable deal before trading with the dealer.

Says Rob: Select 3 (or more) different cars to increase your options.
Says ABOL: Absolutely! It is amazing how emotionally attached people get to a car. Dealers use this to their advantage. However, it is equally amazing how quickly the newness wears off that new car and the emotional attachment withers away. There are very likely several cars in your desired class that will provide similar performance. Try to focus on the one that provides you with the best VALUE and you will be way ahead when it comes time to trade in 2-4 years.

Says Rob: Don't buy a car when you test drive.
Says ABOL: ABSOLUTELY!

Says Rob: Call up to 8-10 dealers to get into a competitive bidding situation.
Says ABOL: Screw that. Submit an anonymous buy bids at AutoBidsOnline and let dealers compete to be the first one to meet it.

Says Rob: Get the "drive it off the lot" price.
Says ABOL: Absolutely. We call it the cash price. If I paid you cash out of my wallet today, how much do I need to hand you to get title to the car?

Says Rob: Stick to your guns!
Says ABOL: Absolutely. However, the beauty of ABOL is the consumer's ability to rate the dealer experience.

Says Rob: Say no in the back room.
Says ABOL: Don't ever ENTER the back room. Arrange for delivery of your new car at your local bank branch, home or office.

AutoBidsOnline Car of the Week - 09 Infiniti G37

2009-12-08T05:15:00.000-08:00

2009 Infiniti G37 4dr Sedan x AWD

This week’s AutoBidsOnline spotlight on the best and brightest in the new car market takes a look at the 2009 Infiniti G37 4dr Sedan x AWD. The G37 continues to lead the way with a stunning array of features including ultra-comfortable seats, an elegant interior and very impressive audio systems. This vehicle stands out for offering overall performance at the top of its class.

"The G-Series line has a 3.7L V6 engine paired with an electronically controlled 7-speed transmission," said Jeff Cook, President of AutoBidsOnline.com. “The AWD x model is a great ride, especially for those of who live in cold weather climates.”

“New to the Infiniti lineup in 2009, the G37 packs a whollup with 330 horsepower and 270 lb. feet of torque. It delivers outstanding performance without reducing driver comfort,” says Cook.

Noted industry expert David Ruggles of the Ruggles Report speaks well of the G37’s resale value: “The 36 month residual of 50% is the strongest we’ve looked at thus far in this series. Like many import OEM's, Infiniti does not sabatoge their vehicles resale value with large up front rebates and incentives. Instead, they let the car's value stand on its own. As such, the G37 should hold up well over time and find owners in an excellent value position when it comes time to trade up for their next new car.”

CHROME REVIEW: None Available

DETAILS:
Invoice/MSRP: $33,029 / $35,750

Current TrueCar Good Price: $34,787 ($893 above invoice)
Current Edmunds.com TMV: $34,266

MPG HWY: 25 mpg
MPG City: 17 mpg

CURRENT REBATES & INCENTIVES: None.

WARRANTY: 4 years / 60,000 miles

RESIDUAL OUTLOOK: Excellent

COMPARABLE VEHICLES: Acura TL, BMW 3-Series, Hyundai Genesis

HOW TO GET BEST PRICE: Competitive pressure will always yield the best possible price. If you are looking to get the new Infiniti G37, you would be well served to visit several Infiniti dealers and go armed with as much information as possible.

Our friends at Edmunds.com and TrueCar.com have each performed significant research in stating their thoughts on the real market value of the G37.

However, if you don’t have the time or desire to invest hours in onsite dealer negotiations, you can join AutoBidsOnline.com and set your own price with our new AutoBidIt! feature. It’s all very easy:

Build out the exact car you want.
Determine the price you are willing to pay.
AutoBidIt!

AutoBidsOnline dealers are pre-screened for best of breed business practices and all are committed to straight-forward negotiation and transparent pricing. They will compete to be the first to meet your no-obligation bid as only the first dealer to do so will get your business.

My Take On Fritz Henderson's Sudden Departure

2009-12-04T13:02:00.001-08:00

Check out my latest article detailing the firing of Fritz Henderson at GM.

The spinsters claim he stepped down on his own. I'm not so sure about that. See for yourself and let me know what you think!

Forbes Best and Worst Cars Report

2009-12-01T04:13:00.000-08:00

Our friends at Cherokee publishing just reported on Forbes' Magazine's new study of best and worst new and used cars. Pretty damn interesting.

If you happen to own one of the worst USED cars, you would be well served to look for a new one. And if you are here, there is no better place to get that new car than at AutoBidsOnline.com.

Unfortunatley, if you are in a NEW car, you are probably so far under water that it does not make good financial sense to trade out so early.

However, if you are dying to, I would suggest calling our friends at D&M Leasing in Texas. They specialize in getting the most for your trade-in and can frequently pull people out of their cars earlier than usual. They may very well be able to help you out!

Cool New Website

2009-12-01T04:11:00.000-08:00

I just ran across this. It looks like a goldmine for all you sportsfans: www.mvptones.com. They are creating ringtones from the radio / tv games calls of recent sports events. Pretty cool stuff!

InBiz Radio - Walk In My Shoes

2009-11-23T13:17:00.000-08:00

Had a blast with the radio interview conducted by Mike Whitaker and Gary Owen last week. Check it out at: www.autobidsonline.com/radio.html

NHTSA Flexes Its Muscle

2009-11-18T09:01:00.000-08:00

The National Highway Traffic Safety Administration has recently stepped up its investigations of Ford, Toyota and Honda while seemingly leaving GM and Chrysler alone.

At this point, one cannot say whether this has anything to do with the federal government's new ownership stake in Chrysler and GM but it certainly begs scrutiny.

2010 Honda Odyssey - Car of the Week

2009-11-17T14:04:00.000-08:00

Just had a new article published on ArticlesBase - this one highlights the 2010 Honda Odyssey Touring. Please check it out on the AutoBidsOnline.com News Page and let me know what you think!

Ford Fusion on the Rise

2009-11-13T04:24:00.000-08:00

Ford announced yesterday that sales on its Fusion midsize sedan have already outpaced its previous full year record set in 2007.

This certainly bodes well for the only Detroit OEM not to take a handout from we the taxpayers and I commend them.

Ford has already sold 151, 137 units this year and still has November and December to line its coffers. Sales of the Fusion are up 15 percent from the same period last year.

Would Hate to Be On This List!

2009-11-13T04:15:00.000-08:00

Forbes.com just announced the results of a study that indicates the 10 worst 2009 cars on the road. They looked at Vincentric's 5 year repair cost data on 2009 vehicles and combined that with Consumer Reports' reliability ratings.

The list is certainly non-discriminatory and diverse. If you own an Asian car, you appear to be in good shape. But good luck with your resale value if you own one of these:

VW Touareg

Jaguar XF

Chevy Colorado

Chrysler Sebring Convertible

Chrysler Town & Country

Dodge Grand Caravan

Ford F-250 (crap! I have one but at least it's on a closed end lease!)

GMC Canyon

Lincoln MKS

Mercedes GL450 (shocker of the list)

In all, you can expect to pay more in repairs on these vehicles over a 5 year span than all other vehicles.

However, if you are smart and lease a new or late model vehicle that is always under the OEM warranty, you have little to worry about!

How To Get A Great Deal On The 2010 Mazda CX-7

2009-11-12T04:54:00.000-08:00

This week’s AutoBidsOnline.com spotlight on the latest and greatest in the new car market focuses on the 2010 Mazda CX-7 4dr S Touring 2WD. The CX-7 is one of the best in class in the Crossover segment and a real bargain listing at $26,550.

"Without a doubt, the 2010 Mazda CX-7 4dr S Touring 2WD is currently leading the way against rivals Subaru Tribeca and Chevy Equinox," said Jeff Cook, President of AutoBidsOnline.com.

Noted industry expert David Ruggles of the Ruggles Report suggests, “With a 36 month residual of 48%, the CX-7 maintains reasonable resale value after three years. Based upon an MSRP of $29,800, that equates to just $400 depreciation per month.”

CHROME REVIEW: None Available

DETAILS:
Invoice/MSRP: $24,905.00/$26,550.00
Current True Car Value: $25,052
Current Edmunds TMV: $25,529
MPG HWY: 25 mpg
MPG City: 18 mpg

CURRENT REBATES & INCENTIVES: 0% financing available from Mazda Credit. Regional incentives may vary.

WARRANTY: 3 years / 36,000 miles

RESIDUAL OUTLOOK: Good

COMPARABLE VEHICLES: Chevy Equinox - Subaru Tribeca

HOW TO GET BEST PRICE: Competitive pressure will always yield the best possible price. If you are looking to get the new CX-7, you would be well served to visit as many Mazda dealers as possible and go armed with as much information as possible.

Our friends at Edmunds.com and TrueCar.com have each performed significant research in stating their thoughts on the real market value of the CX-7. Their numbers are a great starting point.

However, if you don’t have the time or desire to invest hours in onsite dealer negotiations, you can join AutoBidsOnline.com and set your own price with our new AutoBidIt! feature. It’s all very easy:

1. Build out the exact car you want.
2. Determine the price you are willing to pay.
3. AutoBidIt!

AutoBids’ dealers are pre-screened for best of breed business practices and all are committed to straight-forward negotiation and transparent pricing. They will compete to be the first to meet your no-obligation bid as only the first dealer to do so will get your business.

Online Activity Reaches Record High With Car Buyers

2009-11-03T10:29:00.000-08:00

For the first time ever, more than 4 out of every 5 car buyers are using the Internet in their shopping experience. In a report just released by Chrome Systems, 86% of those responded to a poll conducted by Zogby International indicate they conduct online research prior to the purchase or lease of a new vehicle.

Manufacturer websites lead the way as 64% say they visit OEM sites while conducting research. However, third party portal sites like AutoBidsOnline.com are garnering increased appeal as well.

This is apparent as 73% say they shop online for convenience and 60% utilize the Internet to save time. Many shoppers also site that shopping online relieves the pressure of negotiating with a salesperson (58%) and also helps to identify the best car for them (50%).

Used Car Prices Remain Strong

2009-11-03T10:24:00.000-08:00

Edmunds.com just released a report confirming what Ruggles and I have been touting for several years. The dramatic pullback in new car leasing has resulted in a shortage of off-lease vehicles entering the auction lanes.

As a result, the decrease in used car supply has strengthened their current values and private owners are finding themselves in a stronger equity position.

Whether this will lead to lenders' return to leasing remains to be seen. However, it bodes well for everyone the current automotive market.

Cash for Clunkers - A Real Bust

2009-10-29T05:53:00.000-07:00

The Wall Street Journal is reporting this morning that CARS was a complete bust costing taxpayers as much as $24k per vehicle sold. They site an Edmunds.com study indicating that only 125k out of the 690k cars sold in the program actually added to SAAR. The rest would have sold anyway.

I don't know about you, but I could use my share of $24k as year end taxes and the holiday shopping season approaches...

How To Buy A New Car After Bankruptcy

2009-10-28T11:06:00.000-07:00

I met with a prominent bankruptcy attorney today to discuss ways AutoBids can assist his clients with purchasing a car after filing Chapter 7 or 13 BK.

"Believe it or not, most of my clients are more worried about losing their car than losing their home," says Rustin Polk, president and founder of 214Bankruptcy.com. “They are typically looking for a vehicle of a certain category – an SUV for families for something more fuel efficient for instance – rather than a specific vehicle. Price and quality are the two most important considerations for my clients, in addition of course to funding.”

As such, I'm pleased to announce that we are creating a long awaited pre-owned section on the website bringing late model, used cars into the AutoBids family of services. Sources of inventory will come from AutoBids dealers and industry partners and we will be working diligently to find sources of loans who are willing to extend credit to the more risky C and D Tiers of the financial markets.

AutoBidsOnline.com New Car Buyer Survey

2009-10-21T05:51:00.000-07:00

We need your help! Tell us about your recent new car buying activity at: www.autobidsonline.com/buyer_survey.html

It is only 11 questions and will take just a few minutes. We'll also make it worth you while by giving away a $250 gift card in a random drawing of all completed surveys on November 11th.

As always, I appreciate everyone's input!

2010 Motor Trend Car of the Year

2009-10-21T05:43:00.000-07:00

On the heels of winning the COY award in 2009 with the Forester, Subaru takes top honors again this year with the Outback. This is the first time the OEM has won the award two years in a row.

Starting at $23k, the Outback packs a 256hp punch with its 3.6L Boxer engine yet still maintains high levels of fuel efficiency, value and a roomy interior.

Read more from our friends at AutoRemarketingToday: http://www.autoremarketing.com/ar/news/story.html?id=10268