There are many ways to deal with the situation when you’re turned down for a car loan. You could, for example, try a different dealership, or apply for financing through your own bank or credit union first. We do not recommend the tactic that one man in Kansas took last week, which was to pull out a handgun and threaten Kia dealership employees with it. [More]
It seems like a very long time ago that we told you about a new practice in the auto lending industry––cars that the lender can shut down remotely if you happen to miss a payment. The cars won’t shut down while you’re cruising down the highway, but will simply refuse to start when the ignition is off. Simple enough, but some customers claim that one company shut their cars down too early, and have filed a class action lawsuit. [More]
The new site TrueCar is a great concept: you can figure out a price for your car and trade-in online, without any of the frustrating negotiations, or even changing out of your pajamas. Reader Alex used the site to get a price for a new Jeep, and his eight hours of trouble began when he and the dealership valued his trade-in differently. [More]
In 2010, Ford was among the top 10 auto brands in Consumer Reports’ Annual Auto Reliability Survey, with more than 90% of its models rated average or better by CR readers. But in the two years since, the shine has gone off the Ford brand, and in the newly released survey, it now comes in next to last place. [More]
Investigation Finds Car Dealers Basically Setting Customers Up To Fail So They Can Repossess & Resell Vehicles
A new investigation into California car dealerships using the Buy Here Pay Here method of financing is revealing some shocking statistics about car sales. Namely, the practice of “churning,” or selling the same car multiple times, is frequently being used to basically set customers up to fail so the dealership can score a bunch of cash down payments, repossess the vehicle when the buyer can’t pay on time and then sell that car again.
There you are, rolling along in your nice luxury car with custom leather interior, awesome speakers and one of those voice-activated virtual assistants offering to find you a late-night taco joint and all is well with the world. Unless maybe, you get in an accident and discover that just because your car is fancy, it might not hold up so well in a crash. A new test by the Insurance Institute for Highway Safety has resulted in some failing grades for luxury and near-luxury automakers.
For years, consumer advocates have been calling for legislation that would make it illegal for rental car companies to rent out or sell vehicles that are currently under a safety recall. That notion is inching closer to becoming a reality with the introduction of the Raechel and Jacqueline Houck Safe Rental Car Act.
There are plenty of things out there to complain about — after all, fighting back against the companies and industries that let down consumers is why we’re here in the first place. And according to a new survey from the Consumer Federation of America, the area we’re most cranky about is (drumroll, please)… car shopping! Of course, there are plenty of other consumer woes as well.
Just think of those times you actually had to stop and buy hot coffee to later spill all over your lap in the car. That’s the worst, which is why Fiat is introducing espresso makers in its 500L model, so you can make your own hot beverage in the comfort of your vehicle, to then precariously balance while driving. Brings new meaning to the idea of a to-go coffee.
General Motors knows July and August will be important months for Chevrolet, as it’s the time when many vehicles make the switch from 2012 models to 2013 models. That’s why the company is rolling out two new plans to try and bring customers to its dealerships, including a no-haggle pricing plan and a 60-day return policy on certain vehicles.
Forget those million milers flying around in airplanes, sitting back and letting the pilots do all the work — we’re pretty amazed that one man has had the time and desire to drive not one million, not just two million, but almost three million miles in the last 46 years in a single car. He and his trusty 1966 Volvo are only 34,000 miles from crossing the three-million mile threshold together. That’s a lot of road trips.
Earlier this year, the Massachusetts state Senate passed a “Right to Repair” bill that would allow your local mechanic to have access to info that is now only available to car dealerships. But the legislation has stalled in the state House. Sick of inaction, 16,000 Bay State residents petitioned the state, and everyone will have a chance to vote on it come November.
Drivers of electric vehicles might have to hand over a bigger wad of dough to buy their cars, but it could be worth it, if they get a good deal on insurance due to their status as EV owners. It could partly be due to the fact that often, EV drivers are more careful and tend to get in less accidents.
So maybe you thought the gas prices had finally stopped ticking upward, but if you were entertaining that line of wishful thinking, well, you’re likely to be disappointed. The Energy Department is predicting that gas prices will rise about 6% this summer, up to 24 cents more a gallon during the peak driving season.
There’s a dearth of good used cars out there, so if you’ve got a particularly fine example you’ve been looking to unload, now is a good time to sell it, say experts. On that note, if you’re trying to find a cheap previously-owned vehicle, prices are probably not going to be in your favor.
Hybrid cars have earned some admirers, but it turns out once customers buy an electric-gas model, they’re unlikely to come back for another one when it’s time to purchase a new car, according to a new study.