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  • May 22, 2018
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  • Comments Off on Buy Here Pay Here Birmingham AL Repossessed Car Actions Online – How to Buy a Cheap Repossessed Car Online!

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Did you know that there are repossessed car auctions online, where you can find extremely cheap cars in a very good condition?

Buying a car from a government auction can help you save thousands of dollars. In fact, it’s not uncommon to find cars up to 95% off their regular price. Every day, thousands of vehicles like SUV’s, motorcycles, MPV’s, trucks and RV’s get seized by banks or government agencies. It costs a lot of money to the government to store these vehicles and this is the reason why they reduce the price so much in order to sell the cars as quickly as possible.

But, how do these automobiles end up in an auction?

Many times these automobiles were bought by individuals through bank financing loans, which they failed to pay off. So, the banks repossessed them to minimize their losses. Other times, these vehicles get confiscated from people who have committed crimes [...]

  • May 22, 2018
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  • Comments Off on Buy Here Pay Here Birmingham AL 5 Must Dos When Selling a Car on Craigslist

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If you are new to selling a used car on Craigslist, you may be unsure how to proceed. Stop right now. Whatever you do, don’t mosey on over to Craigslist and post “I have a red truck for sale.” This will get you nowhere and it does nothing but waste your time and the time of everyone who reads your ad.

So what should you do when selling a car on Craigslist?

1 – Take a Picture

Even if your Craigslist location page is for a relatively small size city, there are still likely hundreds of other used cars listed for sale. Guess what? Most of them have pictures and yours should too. Craigslist buyers aren’t necessarily lazy, but why should they spend five minutes emailing you to ask for pictures when it would have taken you that long to upload a picture?

2 – Use the Kelley Blue Book

Don’t just pull a [...]

Trump Signs Repeal of CFPB’s Dealer Participation Guidance

Trump Signs Repeal of CFPB’s Dealer Participation Guidance The president’s signature comes exactly five years and two months after the bureau put the auto finance industry on notice with its controversial guidance on dealer rate markups.

Trump Signs Repeal of CFPB’s Dealer Participation Guidance

WASHINGTON, D.C. — On Monday, President Donald Trump signed into law the Congress-approved resolution of disapproval of the Consumer Financial Protection Bureau’s guidance on dealer participation — ending the regulator’s attack on a key source of dealer income exactly five years and two months since the regulator issued its controversial rule.

The enactment of the Congressional Review Act (CRA) resolution not only rescinds the bureau’s fair lending guidance, it prohibits the bureau from ever reissuing a substantially similar rule unless Congress authorizes it do so by law. The president’s signature also marks the first time the CRA has been used on a rule that has been in effect for several years.

“This is a great day for consumers, as Congress and the President have helped to preserve their ability to receive auto loan discounts from local dealerships,” wrote Peter Welch, president of the National Automobile Dealers [...]

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The brighter the car color, the brighter it’s future value.

 

According to an iSeeCars.com analysis of 2.1 million used vehicles, yellow vehicles depreciated an average of just 27 percent in value after three years, and orange cars depreciated 30.6 percent.

These school bus-inspired colors led the class, as they had the lowest depreciation rates among the 13 colors included in the analysis.Yellow and orange were followed closely by another color that can be both rare and bright: green, at 30.9-percent depreciation.

The average cars depreciates 33.1 percent after three years, according to the iSeeCars study.

“Yellow cars are relatively less common, which could drive up demand and help maintain their value,” iSeeCars chief executive officer Phong Ly said in the analysis.

“Our analysis shows that yellow vehicles have the lowest depreciation of any color for lower-volume cars like convertibles,” he said. “Interestingly, yellow is also the color with the least depreciation for popular body styles like SUVs and pickup [...]

flooded car
5 ways to spot finer points of potentially weather-damaged vehicles

AUSTIN, Texas — An auction operator who likely saw at least some of the rain from Hurricanes Harvey and Irma spelled out his five points to consider as the industry watches for flood-damaged vehicles.

“Apart from the basics, there are other telltale signs that dealers and private parties should pay attention to when it comes to signs of hurricane-related damage,” said Tomchay, whose auction is located 70 miles northeast of Atlanta. “Information is power, so arm yourself with as much knowledge as possible to avoid getting burned on the bottom line.”

“Be sure to closely inspect a car’s exterior in proper lighting, preferably in sunlight and from various angles,” he said. “If you’re still unsure, solicit an inspection from a qualified body repair shop.”

Chris Tomchay, co-founder and chief operating officer of The Appraisal Lane and co-owner of the Georgia-Carolina Auto Auction, shared his five [...]

Credit Acceptance is Served Subpoena

 

From Mississippi AG

   

The subprime auto lender Credit Acceptance Corp. disclosed that it has received a subpoena from the Mississippi Attorney General for issues with the company’s origination and collection of loans.  The subpoena was issued on Aug. 14 and the company said it is cooperating with the inquiry, according to a Securities and  Read More

http://waynesautosales.us

 

Yesterday, the news broke that both Ford and GM are phasing out the internal combustion engine and are aiming toward on an all-electric future.

In addition to Norway, France, the U.K. and others, China, with a severe air pollution problem, is pressuring the auto industry to make the switch, and now California is considering banning fossil-fuel powered vehicles.

Read more here

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