Miles of Smiles Club and News from the Street…
My Carlady News from the Street!
My predictions for 2009 and the Automakers bailout.
The Detroit Big 3 will consolidate in 2009. Watch for Mercury to go away and Lincoln to become the luxury division of Ford, to be relocated to Ford showrooms. Ford dumps Saab. Chrysler will become Dodge-Jeep and maybe the 300, if any car remains. GMC will dump Pontiac, Saturn, leaving Chevy and GMC trucks to battle for position. Some cars will become collectibles and others will be obsolete. Which ones? That’s why you have me… Carlady@cox.net
Leasing: It’s not dead, but it’s seriously curtailed to specific cars in each automaker’s portfolio. Nissan: Altima, Toyota: Camry, Lexus RX350 and ES350, Honda Accord and Civic, Infiniti GS37, Audi A4, VW Jetta. These are the hot ones right now.
USED TRUCK DEALS: If you need a good work truck or Caliber these are being made available through one of my Miles of Smiles faithful friends. If you are interetsed in making an offer email me: sarahlee@mycarlady.com,mvides422@gmail.com,carlady@cox.net I’ll send you pictures.
1999 Toyota Tacoma 4X4 extracab SR5 with auto 184,104 miles 3.4 liter v-6
2001 Ford F-150 4X4 supercrew XLT 155,236 miles 5.4 liter v-8
2003 Ford F-250 superduty extracab XL, 2wd, auto, 5.4 liter v-8 gas, 82,000 miles
2004 Ford F-150 extracab longbed XL, 2wd, auto, 5.4 liter v-8 gas, 95,900 miles
2007 Dodge Caliber, 2.4 liter with CVT, 33,644 miles awesome condition!
2005 F-150 extracab 4X4 FX4 flareside, 64,200 miles, 5.4 liter v-8
I still have the 2004 BMW convertible too! It would look great under the mistletoe or HanukCAR lights.
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AUTO CREDIT ADVISORY
The auto industry is not making getting a car loan easy. Chrysler, Ford and GMC are not making loans to small business or consumers unless the buyer has 30-40% cash down and over 700 AUTO FICO scores. Chase, BofA, CapitalOne and local credit unions are picking up the slack, but VERY selectively. If there is ANYTHING derogatory on the credit bureau, you can forget a great rate. A great rate today is 6.99% for 72 mos. available only to those with 720+ Auto FICO scores. The special incentive rates offered by the car factories are only available to the over 700 FICO owners and you must have 20% cash down to cover tax and fees. Any negative equity from a trade must be covered with additonal cash down. In other words, the bank is only buying the wholesale value of the car AFTER rebate or 80-90% of the wholesale value under the most conservative cases. Those of you with two car loans in your name, co-signed or otherwise, can expect to see a one person, one driver policy going forward.
Second chance lenders have all but disappeared, leaving one or two demanding 25% interest and 3000 cash down. If you are currently in a bankruptcy forget the car loan until you are discharged. Those with discharged Bankruptcies can expect a min. of a 22% interest rate, 2000.00 cash down and a cap of $10,000.00 on the vehicle value.
If you have low secured but high revolving debt (credit cards) of 40% or more, be prepared for a higher interest rate. CONSIDER THIS: The next wave of car loans to those with bad auto loan history or high revolving debt will be GPS moniters and shut-off devices in the cars. If the loan is late, the car won’t start. If you’re a month down, the car is “located” and repo’d. Welcome to my world. If you want to know how you can clean up your credit report and raise your FICO score, call me, I’ve got a great tool with a 100% money-back guarantee. sarahlee@mycarlady.com,mvides422@gmail.com,carlady@cox.net Subject line: CREDIT REPORT FIX
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2009 Toyota Venza has arrived.
