Used Car Sales Trending Upward

This month should see a major increase in used-car sales. TrueCar.com estimates used car sales for December at 3,349,510, up 13 percent from November and up 6.6 percent from December 2011. The ratio of new to used is estimated to be 1:3 for December 2012. New light vehicle sales in the U.S. (including fleet) is expected to be 1,370,658 units, up 19.9 percent from November (on an unadjusted basis). The December forecast translates into a SAAR of 15.6 million new car sales, up from 13.6 million in December 2011 and up from 15.5 million in November. Retail sales are up 23.6 percent from November. Fleet and rental sales are expected to make up 16.5 percent of total industry sales in December. The industry average incentive spending per unit will be approximately $2,409 in December 2012, which represents an increase of 4.3 percent from November.

What is A Used Car?

A used car, a pre-owned vehicle, or a second-hand car, is a vehicle that has previously had one or more retail owners. Used cars are sold through a variety of outlets, including franchise and independent car dealers, rental car companies, leasing offices, auctions, and private party sales. Some car retailers offer "no-haggle prices," "certified" used cars, and extended service plans or warranties. http://www.BuyatCrown.com

Happy Holidays from Crown Auto Sales and Finance

Car and Driver Magazine its worth the Subscription

Car and Driver (sometimes abbreviated C/D) is an American automotive enthusiast magazine. Its total circulation is 1.31 million.^[2] It is owned byHearst Magazines, who purchased prior owner Hachette Filipacchi Media U.S. in 2011. Originally headquartered in New York City, the magazine has been based in Ann Arbor, Michigan since the late 1970s.

Car and Driver was founded as Sports Cars Illustrated in 1955. In its early years, the magazine focused primarily on small, imported sports cars. In 1961, editor Karl Ludvigsen renamed the magazine Car and Driver to show a more general automotive focus. 2005 marked the 50th anniversary of Car and Driver .

Car and Driver once featured Bruce McCall, Jean Shepherd, Dick Smothers, and Brock Yatesas columnists, and PJ O'Rourke as a frequent contributor. Former editors include William Jeanes and David E. Davis, the latter of whom led some employees to defect in order to createAutomobile Magazine.


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http://www.caranddriver.com

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General Motors has a small truck recall

General Motors is recalling 118,800 model year 2010-2012 Chevrolet Colorado and GMC Canyon vehicles manufactured from Nov. 9, 2009, through Aug. 28, 2012, for failing to comply with the requirements of Federal Motor Vehicle Safety Standard No. 113, "Hood Latch System." The hood may be missing the secondary hood latch.

If the primary hood latch is not engaged, the hood could open unexpectedly. During vehicle operation, this could obstruct the view of the driver and increase the risk of a crash.

General Motors will notify owners and instruct them to inspect their vehicle for the presence of a secondary hood latch. Dealers will replace the hood on any affected vehicles, free of charge. The recall is expected to begin on Jan. 17.

GM's number for this campaign is 12319.

Repossessions...No Problem

The repossession statistics can often look bleak in many cases, but at Crown Auto Sales and Finance we review the statistics and understand that bad things happen to good people.

 Lets look at the numbers!
  -Car repossessions this year are at the highest level in at least a decade
 -Over 2 million cars were repossessed in 2011
 -Repo Lots Over Filled With Reclaimed Cars 
 -Over 1.4 million Repos could have been stopped





We understand that bad things happen to good people and at Crown we feel everyone is creditworthy.

Head over to BuyatCrown.com to pick out the perfect vehicle for you, with a down payment and monthly payment you can afford.  At Crown there is no driver left behind.

Crown Auto Sales and Finance Customer Scarlette Mcilwain

View Crown Auto Sales and Finance Customer Scarlette Mcilwain as she tells about her experience at Crown Auto Sales and Finance.  She was a customer at the used car lot in Rock Hill, SC right across from Cherry Park (1445 Cherry Road Rock Hill, South Carolina). 

Be sure to head over to http://www.BuyatCrown.com and check out the vehicles for yourself.

3 Great Cheap Cars

3 great cheap cars Ford Fiesta Price: $13,320 - $17,120 Mileage: 28 City / 37 Hwy Surprise! The most fuel efficient, fun-to-drive inexpensive subcompact sold in America is the Ford Fiesta. Seriously, it's true. And it gets even crazier because the most fun to drive Ford Fiesta -- ironically the one with the automatic transmission -- is also the most fuel efficient. No, it's not backwards day at CNNMoney.com. The Fiesta's twin-clutch automatic transmission sends power almost continuously to the wheels, the gear switches happening almost instantaneously. And that nicely complements the Fiesta's quick, responsive handling. Chevrolet Cruze Price: $16,275 - $21,975 Mileage: 24 City / 36 Hwy And here's another surprise! General Motors makes a really nice small car. The best thing about the Chevy Cruze is that it looks, feels and drives like a real car. It's not one of those "be happy you even have a car" tin cans on wheels. The interior is made from better-than-you-paid-for stuff while the ride quality and performance are, likewise, a notch above. Most small car buyers are after practicality and comfort, not kicks, and the Cruze delivers with an airy-feeling interior and large, easy-to-pack trunk. Things might have turned out differently for GM had it made a car like this ten years ago. Better late than never. Honda Fit Price: $14,900 - $16,410 Mileage: 27 City / 33 Hwy Finally, something you'd expect. The Honda Fit is a perennial in these sorts of lists and for good reason. While it's known for being small and fun, the thing that really sets the Fit apart is its flexibility and practicality. The Fit almost makes you wonder why we need small crossover SUVs. While not looking like one of those trendy box-on-wheels compacts, the sporty Fit really crams about as much storage space as you could ever imagine into its little body.

What does Buy Here Pay Here Mean?

What does "Buy Here Pay Here" mean? Buy Here Pay Here (BHPH) financing means that you arrange a loan and make payments on it at the dealership. You purchase the car through what's referred to as in-house financing versus through a third party, such as a bank. Instead of making monthly payments to a traditional lender, you make weekly or bi-weekly payments at the dealership. Although some BHPH dealerships will accept payment by phone or online, many require that you physically bring a check or cash to their location. You therefore "buy" the car at the dealership and "pay" on the loan at the dealership. What's the difference between a BHPH dealership and a traditional dealership? Depending on the dealerships you visit, very little. In fact, many traditional new and used car dealerships have started to offer BHPH financing as an option. You might not see "Buy Here Pay Here" written across the windshields of their cars, but phrases such as "We Finance" may indicate that option is available. The key difference between a traditional dealership and one that specializes strictly in BHPH financing lies in the shopping experience. At a traditional dealership, the financial conversation is often the last part of your discussion. After you've seen a few models, asked a host of car questions and possibly test driven one, the dealer will help you explore payment options. At a BHPH dealership, the process is usually reversed. The dealer will ask you a series of questions, possibly run a credit report and invest in understanding your credit experience before showing you available cars. Then, with your monthly payment range and down payment information factored in, the dealer will show you cars that fit your financial situation. Who should go to a BHPH dealership? BHPH dealerships are primarily designed for shoppers who may have experienced significant financial bumps and bruises. If your credit score is on the lower end of the scale or if you've had trouble getting an auto loan, a BHPH dealership should be one of the places you visit during a car search. What are the benefits of BHPH financing? 1. Available cars, available credit The most important benefit of BHPH financing is that it gives credit-challenged people the opportunity to get much-needed transportation. In many cases, BHPH dealerships aren't just an option — they may be the only option when someone has been turned down by traditional loan institutions. 2. Opportunities to improve credit One of the ways to rebuild a credit history is to make timely payments on an installment loan. If you consistently make payments on a BHPH car loan, many dealers will report that positive behavior to the credit reporting agencies. Over time, your credit score can improve. Make sure you ask the dealership if reporting is a policy they follow. 3. Trade-in flexibility BHPH dealerships tend to be more forgiving when it comes to accepting trade-ins on older model cars. That's because these types of dealerships understand the value and benefit of getting long-term use out of cars that many traditional dealerships would not accept. They are more likely to find a buyer for your car and thus more likely to take it as part of a trade-in.

Bad Credit Doesn't Mean You are Uncreditworthy

So you need a car today but have no credit or bad credit or no money. There are places that will give you an emergency loan to buy your car but you must be prepared to pay back the loan at much higher interest rates. It is the price you have to pay when you have poor credit, no credit or no money. Although you can get quick emergency loans online to get the car you need today, it may be more economical to save your money and purchase a used car outright so that you will have no loan to pay back. You do not want to incur further debt if you already have debt problems. When you are ready to apply for an emergency loan, consider the following: Make sure You have a Steady Job Having a steady job will allow you to get emergency loans faster. Many of these quick car loan places are like pay day loans that will lend you money if you have a steady job and a bank account. They want to see that you will be able to pay the money back and a steady job will put you that much closer. Make sure You Have A Bank Account You may not need perfect credit to get an emergency auto loan, but most of the place that lend, will want you to have one. A bank account helps establish your credit worthiness and stability and in some cases, your identity.

Important to FIND A CAR LOAN LENDER BEFORE You Buy a Car

Whenever it comes time to buy a car there’s a strong tendency to go with the one stop shopping dealerships offer. But take advantage of that perceived convenience, and you may very well pay far more for the car than you should. Dealerships hawk ridiculously low interest rates on their financing, so low that it often looks like the preverbal no-brainer to just go with what ever their offering. Why not just rely on apparently low dealer financing, and save the hassle of applying through a bank or credit union? You may not qualify for the dealers best financing package The “come on”, a.k.a, “bait and switch”—organizations who are involved in sales are famous for blasting the promise of their best deal to an anxious world. How many times have you gone into a store or lender lured by an advertised low price, only to walk out having to pay more? The best price advertised is the one available to the most qualified customers; exactly who those customers are is up to the dealership. It could be only for people with credit scores above 750, or only for the first ten people who walk in the door on a given day. Rest assured it won’t be across the board. Low rates and prices serve a vital function for businesses: they get people in the door. It doesn’t matter that the best price isn’t available to all customers, only that all customers think that it is. By having pre-approved financing in place, you effectively establish a ceiling on the rate you’ll have to pay for your loan, regardless of what the dealer will or won’t give you. The dealer may not want to give you their best financing Even though you may be fully qualified for the dealer’s best financing package, you still might not get it. Financing is a major revenue source in the car business, and they’ll often pad the loan to recapture discounts and concessions given to you on the basic price of the car. If you haven’t lined up your loan in advance, the dealer might even be able to convince you that you aren’t fully qualified for the best terms. After all, they’ll have the loan, what will you have to counter their claim? Having pre-approved financing will force the dealer to give you a better deal if he wants your business. If it doesn’t, you can move on to the next dealer–preapproved financing in hand. If there’s a choice between a lower rate and cash back, you can take the cash Car dealers typically offer you a choice between an impossibly low loan rate and cash back. I saw one this week advertising 1.9% financing or $5000 cash back. Now I have no idea what the rate will be should you decide to take the cash, but I’d bet real money it’ll be substantially higher than 1.9%, and probably higher than what you can get at a bank. Though the dealer will likely attempt to make the cash back contingent on you taking their over-priced loan, having pre-approved financing through a bank will enable you to leave and take your business elsewhere. Dealers hate to have deals walk out the door, so you if you play hardball, you might walk out with the car, your bank financing and the cash. It gives you a position of strength before you walk in the door When you walk into a dealership you’re at an instant disadvantage. Not only do you go weak in the knees over the fleet of new cars on the showroom floor, but there are people moving and speaking quickly about things you barely understand. If you find a car you really like, the situation quickly becomes even more unbalanced. You’re sitting across a desk from a salesman who, should he hit on a snag with you, can immediately bring in his buddies, the sales manager and the finance guy. Now it’s three on one—no pressure there, huh? The best counter strategy is to stack the deck in your favor to the greatest degree possible. When you have financing from an outside source, you’re making three critical declarations to the dealer: I’ve done my homework and I’ve come prepared Your financing package isn’t the only deal in town I have options that I’m prepared to exercise You’re leveling the playing field by forcing the dealership to respect you. It frees you up to worry about more important concerns Car dealerships try to make the buying process seem easy, but in a way what’s really happening is that you’re being disarmed. In truth, there are a bunch of sub-transactions going on under the umbrella of the big picture purchase: financing, options, warranties, dealer upgrades (undercoating and other recommended but hardly necessary add-ons). In order to limit the chaos that’s really taking place, you need to take as many of those sub-transactions out of the equation as possible, and doing it upfront is the best time to make it happen. By handling the financing outside the purchase, you’re taking a big one out right away, freeing yourself up to have a clearer head about the others. Remember, dealers will often play with the loan terms as a way of forcing you to take options, packages and coverages you don’t want. Apply at your bank or another non-dealer source, and get a pre-approval letter. That letter will improve your bargaining power, and force the dealer to offer better loan terms than the bank if they want your business. That’s a win-win for you.

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