The Used Car Industry in 2014

Every industry is influenced by what is happening around it. No business is an island, and the used car business is like any other. In the United States, while we are far and away from the dark economic days of 2007 and 2008 and in a slow recovery, things are still far from certain. Increasing confidence in the economy has lead to increasing levels of spending among the average American consumer. In May 2014 OEM carmakers in Detroit showed record car sales since the end of the recession here in America.  IN May 2014 Ford Motor Company had their best sales month since 2005, General Motors and Toyota had their best sales month since 2008. German luxury auto makers faired even better in the US market with BMW having the highest May sales in their history, along with Porsche and Audi who had their best sales month ever.  All other sectors related to the automotive industry are seeing record profits as well, including gas prices and insurance companies. On top of this the actual transaction amount for new cars rose an unprecedented 2%.

But where does this leave the used car industry? Well the new car industry and the used car industry are like apples and oranges. To understand the current situation of the used car industry you must first understand the last few years of the used car industry. Even during the recession when Detroit was tanking used cars sold very well. People who needed a car, their money already strained, more often than not purchased a used vehicle since it was less expensive. So this was the time to be a used car dealer. However the used car market wasn't getting replenished either since people with newer cars weren’t trading them in as often. The average vehicle on the road in the US today is a staggering 11.5 years old. Obviously at that age it isn’t of any use to most used car dealers. The cost to repair and maintain a vehicle at that age is just too high to be cost effective. Another thing that adversely affected the used car industry was the government Cash For Clunkers program. Cash For Clunkers, started by the Bush Administration during the darkest days of the Recession, paid anyone in cash for any older vehicle that they turned in no matter the condition. Obviously this got rid of a lot of the piles of junk cars here in America, but it took a good number of quality pre-owned vehicles off of the market and into the proverbial recycling bin as well.

So now used cars, and especially quality used cars, are a premium commodity and many used car dealers are struggling to get their inventories up to peak levels while keeping them competitively priced. But there are other things to worry about as well. With the recent safety recalls on massive numbers of vehicles in the United States there is a very real concern that some of the inventory that they currently carry is actually safe to drive. Currently there are no Federal regulations preventing someone from selling a used vehicle that has been recalled, but the demand for that is building. While a few unscrupulous used car dealers simply may not care about selling a recalled vehicle, many more are up in arms about unknowingly purchasing inventory that was faulty and then passing it along to the customers that they care about.

All in all, the situation for used car dealers is not ideal at the moment, but you do have one on your side. Crown Auto Sales and Finance has always and continues to do our utmost to provide the greatest and most diverse number of the highest quality vehicles at the most reasonable price. We only select good quality used cars with clean service histories and no recall issues. Our service team abides by the highest safety standards, whether they are endorsed by the Federal government or not. Every vehicle is inspected, tested, repaired, and maintained by our expert team of service technicians. It is then covered under our comprehensive Auto Sure warranty for anywhere from 6 to 36 months depending on the terms of sale. So if you have a problem with your vehicle that was of no fault of your own it will be repaired by us at no cost to you. Moreover, we have become extremely aggressive in our vehicle procurement process so that we may continue to carry the wide selection of over 100 quality pre-owned vehicles that we always have. No matter how certain or uncertain times may become, you know you can count on us for your next used car.

Should You Buy A Used Car?

New car dealers are offering more and bigger incentives in order to get people onto their car lots and into a brand new car. That leaves many people asking the question, “If I can get a new car for cheap, why would I ever buy a used one?” While conventional wisdom would dictate that something new is always better than something used, the fact of the matter is that in reality in a field such as car buying it's not quite so cut and dry. Even with new car dealers the used or “pre-owned” market still takes up a huge chunk of their business. Really it should be taken on an individual basis. However there are a number of factors that can help guide you in your car-buying choice as well as highlight why a used car may be your best bet.

Money: There is an age-old adage that states that “as soon as you drive a car off of the lot it loses value.” That's actually true. Within the first five years of a car's existence it loses up to 20% of it's value no matter how well you take care of it. This is important because eventually you will need to trade it in for another car and when you do you will see a greatly diminished return in a very costly investment. Cars are actually a long-term major investment and many customers lose sight of this.

However purchasing a used car has the opposite effect. After the first five years of a car's life their value hardly diminishes at all meaning that you will see much more of the money that you invested in paying that car off come back to you when you trade it in to get your next vehicle. Essentially you are using the fact that cars depreciate in value to your favor instead of against you.

Also let’s not forget that you will of course save money by driving a used car anyway. No matter the incentives offered by car dealers for their new inventory a used car will be cheaper. How much cheaper it will be will be due to a number of factors such as the vehicle's age, it's mileage, the amenities available on a particular model, whether or not it has ever been in an accident, as well as whether or not it is in the same model year as the currently produced version. Basically if a used car uses the same body style as its new self the price will be a little higher. Nevertheless you should save on average three to four thousand dollars if you purchase a vehicle that is a few years old when compared to a new version of the same make and model of car.

Let's also not forget that a well-maintained used car that is only a few years old and that has a good history will still yield about the same gas mileage as a new vehicle as well as give you lower insurance premiums. These factors make a used car an even more economically viable option in both the long and short term.

Efficiency: The fact of the matter is that most used cars are within 10 years old. Within that time frame automobile manufacturers have taken great pains to increase their car's efficiency and reliability. The former conventional wisdom that a car with 100,000 miles on it is headed for the junkyard no longer holds true. Today a well maintained car will last well over 200,000 with few problems. In fact the average age of vehicles on American roads today is 11 and a half years. That's the highest it has ever been. While a sluggish economy has a part to play in that number it's also due to the fact that since people's vehicles are more reliable and lasting longer they have less of a need to replace them. Reliability is not as big of a factor in the used car buying process as it used to be.

This is not to say that you should assume that every used car is problem free. Try to stick with a used car dealer that has high customer satisfaction ratings; that offers their own warranties, and that offers vehicle history reports. Also have the vehicle checked by a mechanic of your choosing and most importantly trust your gut.

So while new cars dealers may still try their best to offer incentives and deals to entice car buyers a used vehicle still offers a much better deal in both the long and short term for discerning car buyers.

2007 Maroon Lexus LS 350 Available at Crown Auto Sales and Finance for just $2000 Down

Maroon Lexus ES 350 Just $2000 Down BuyatCrown.com or call 704 665 0070

2008 Silver Jeep Grand Cherokee - Available at Crown Auto Sales and Finance

Pros

Wide range of potent engine options, true off-road capability, agile on pavement considering its rugged nature.

Reliability Rating for 2008 Jeep Grand Cherokee by Identifix

Ratings Key

Minimal Problems

Moderate Problems

Significant Problems

	Rating	Comments
Engine
Transmission & Driveline
Steering & Suspension
Brake
Heating & Air Conditioning
Starting & Charging
Accessories
Overall		5 out of 5

2009 Silver PT Cruiser

The PT Cruiser, with its spacious interior, offers plenty of cargo and passenger room for the money, but reviewers complain that it is underpowered. 

In addition to its one-of-a-kind styling, the 2009 PT Cruiser's attractive pricing and  treasure-trove of interior space has helped the wagon remain a favorite for reviewers and buyers.  In its heyday, it was one of Chrysler's best selling cars.  However, competitors have started offering similar amounts of space in interiors that are more refined, as well as peppier performance. "Chrysler's 1940s-ish retro wagon enters its eighth year just as the market is rediscovering compact hatchbacks," Car and Driver says. "The perky design has worn well, although it's hard to hide its age."

Originally set to be discontinued in 2009 as part of an effort to trim its lineup, Chrysler has decided to bring back the PT Cruiser for 2010. Bargain hunters looking for a deal on a Chrysler should check out our Chrysler Deals page.

The 2009 PT Cruiser comes in three trims: the base LX, the Touring and the Limited Edition. A new special edition version is also available, the Sunset Boulevard Edition. The highly-rated Scion xB is another hatch that receives attention for its distinctive styling.

2010 Cheverolet Malibu - You are approved at BuyatCrown.com

Used Car: 2010 Chevrolet Malibu Review

Review Last Updated: 7/26/12

Used Car Scores

Overall:	8.3
Critics' Rating:	9.4
Performance:	7.9
Interior:	8.4
Operating Cost:	7.9
Safety:	9.6
Reliability:

How we calculate scores

Research analyzed for this review

Pros and Cons

• Attractive styling
• Roomy, supportive front seats
• High safety scores

• Subpar reliability rating
• Uncomfortable rear seat

Research Other Years

• 2013 Chevrolet Malibu
• 2012 Chevrolet Malibu
• 2011 Chevrolet Malibu
• 2009 Chevrolet Malibu
• 2008 Chevrolet Malibu
• 2007 Chevrolet Malibu

High safety scores, a roomy cabin and good fuel economy ratings make the 2010 Chevrolet Malibu an ideal used midsize car for a number of shoppers. However, some rivals offer better reliability, nicer interiors and more standard features.

The 2010 Chevrolet Malibu is ranked:

• ^#6in Used Midsize Cars under $15K
• ^#10in 2010 Affordable Midsize Cars

When the 2010 Chevrolet Malibu was new, auto critics liked its attractive styling and well-balanced ride and handling. Some reviewers mentioned that the LATCH connectors were easy to locate and that installing car seats was effortless. The Malibu also comes with strong safety ratings.

The 2010 Malibu has a few faults though. Its reliability rating is on the low side for the class, and some test drivers thought the back seat wasn’t as comfortable as rivals’. Another potential downside is the 2010 Malibu’s lack of a navigation system, even as an option. Chevrolet’s OnStar turn-by-turn directions offer similar functionality, but this service requires a paid subscription.

The front-wheel drive 2010 Malibu has a four- or six-cylinder engine, which is paired with a four- or six-speed automatic transmission. The base four-cylinder Malibu gets 22/30 mpg city/highway, which is about average for the class. Six airbags, anti-lock brakes, electronic stability control and traction control are standard on the 2010 Malibu. Inside, the base Malibu includes a standard power driver’s seat, cruise control, OnStar and a six-speaker stereo with satellite radio and auxiliary input. Upper trims include available features like heated seats, Bluetooth, leather seats and an upgraded stereo.

Commodore SS V before Chevy SS bows

General Motors’ Australian arm, Holden, revealed the new VF Commodore SS V before its brother-in-arms, the Chevy SS, gets revealed this weekend at Daytona. The show car is finished in a color named Fantale orange metallic. Unfortunately, Holden and GM kept hidden the most exciting parts of the new full-size, rear-drive platform: the engine and price.

Read more: http://www.autoweek.com/article/20130214/carnews/130219891#ixzz2L01qrGNh

CarLotFinance.com

Used Cars Charlotte - New Year New Car

Crown Auto Sales and Finance, Crown Rent-A-Car, Crown Auto Care and AMS Financial. We are your one stop shop offering quality late model used cars with down payments as low as $500, warranties on all our vehicles up to 3 years; 30000 miles, late model rental cars with daily rates starting at 19.95 per day and a state of the art 9000 square foot service facility. We were formerly known as Auto King a household name in the community for over twenty years. Check out Crown Auto Sales and Finance for the perfect car for you! http://www.BuyatCrown.com

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.

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.

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.