Most people simply turn in their leased vehicles when the lease comes due, even if they are under their mileage limit.  Did you know that you can SELL your leased car to a dealer and MAKE MONEY? 

Remember – leasing is just another form of financing a vehicle.  At any time during your lease, you can sell it to a dealer and buy or lease another car, as long as the market value of the car is greater than or equal to the payoff amount of the lease.  If the market value is less than the payoff amount, but you are not over your mileage limit, then you should wait and turn it in at the end of the lease.  The “negative equity” is then the leasing company’s problem, not yours.  However, if the market value is greater than the payoff amount, then you should sell the car and pocket the difference!  Most leasing companies don’t advertise this option because they want you to turn in the car so they can keep those profits!

If you are nearing the end of your lease, contact Women’s Automotive Solutions to see if you have any positive equity in the vehicle.  Why just turn it in when you can make money!

The holidays are a time to reconnect with friends and family, share stories and reminisce about good times.  So, I thought I’d do a little reminiscing myself and share with you some of my car stories.
 
My parents were kind enough to include me in the car buying process whenever they purchased a new vehicle.  Perhaps they somehow knew that I would go into the car business, and they wanted to prepare me for my future career.  Or, maybe they just couldn’t get a babysitter.  Whatever the reason, the result is that I remember every car my family has ever owned.
 
My earliest car memory is of an ugly, avocado green station wagon with lovely wood grain siding.  This was a 1968 Ford Country Squire, the top-of-the-line in wagon in Ford’s fleet.  Considered the premium American family vehicle at the time, the Country Squire held 9 passengers and was longer than many of today’s full-sized SUVs!   Although we didn’t have 9 passengers, we did need the space for Bambi, the Newfoundland.  Bambi loved to ride in the car, and he served a vital function during the Cleveland winter:  the 140 lb dog added enough weight to the back of the car to keep it from sliding around in the snow and ice.
The next car to enter our family was a chartreuse (yes, chartreuse), 1973 Chevy Vega.  I LOVED that car.  I mean, what 3 year old wouldn’t love a chartreuse car shaped like a football?   I remember being very upset when they traded it in.  However, since the bottom had rotted out, and Dad’s foot had gone through the floor board, it was probably for the best. 

They replaced the Vega with a 1978 white Ford Fairmont station wagon with a rear-facing 3rd row seat.  As kids, my friends and I loved the rear-facing seat.  It was perfect for making faces at other drivers and waving at truckers on the freeway.  At that time, Ford stood for “Found On the Road Dead”.  This station wagon lived up to the reputation and caught fire on the freeway one day on the way home from the airport.  (Ford’s quality has, thankfully, improved since then.)

In 1979, my father celebrated his 40th birthday by purchasing a silver Mazda RX-7.  What says “midlife crisis” better than a 2-seater sports car?  Since I was old enough to understand, my dad told me all about his wonderful new toy and how it worked.  This was our first manual transmission car, and Dad showed me how to properly work the clutch and shift through the 5 gears.  I would sit in the car (without the engine running) and pretend I was driving at Le Mans.  My passion for sports cars was born! 

The first car I actually drove was not a sports car, but a blue 1984 Dodge Aires wagon with woodgrain sides.  Nothing is more glamorous for a 16 year old than to drive Mom’s safe, boring station wagon.  Thankfully, a few months after I got my license, my father taught me to drive stick.  He had traded his Mazda for a 1985 Toyota Celica in two-tone metallic blue.  Mastering the manual transmission was a “trial by gravity” exercise.  Dad stuck me on a hill in first gear until I learned where the clutch caught.  That was an entertaining afternoon.   

The summer before my senior year of high school, my dad bought me a 1978 Audi Fox.  I had my very own European luxury car!  It was, in fact, a 5-speed lemon with no power steering.  If you had less than 1/3 of a tank of gas, and you made a left hand turn, all the gas would flow away from the engine, and the car would stall.  It also had a radiator leak the size of Texas.  It died six months later, leaving me stranded on the side of the road on Christmas Eve.  My dad took pity and gave me the Celica.  I was the happiest 17 year old on the planet.  Dad bought himself a shiny new Mazda RX-7 – in red. 

When I graduated from college (with a job), I traded the Celica for a 1993 Ford Explorer Sport.  Thanks to my cowgirl roommate from Idaho, I had acquired a taste for 4×4s.  My truck phase lasted a few more years, culminating in the ownership of a huge Dodge Ram pickup truck that I couldn’t park anywhere.  Then I turned 30…

Her name was Penelope.  She was a red, 2000 Porsche Boxster S and the love of my life.  With Penelope, I learned high performance driving and raced with the Porsche Club of America.  Flying around a race track at 140 mph creates a bond between human and machine that can’t easily be explained.  It broke my heart when I had to give her up.  She was hit by a Suburban driving on the wrong side of the road and was never the same again.

Nothing could ever take the place of Penelope, but I did need a new car.  So, I purchased a 2005 Infiniti G35 named Isabelle.  Isabelle was a sexy, black on black sport coupe with dark tinted windows and 19 inch rims.  She was the most luxurious car I’ve ever owned, boasting features and options that I never did learn to operate.  After only 19 months, I sold Isabelle and purchased a 2004 Mini Cooper S named Maggie.  Maggie is like a go-cart on steroids, and she is the most fun I’ve had since Penelope.  Maggie proudly wears the Women’s Automotive logos along with pink and black racing stripes.  You can’t miss her on the road.

I guess it’s strange to look back on cars, remembering them as if they were members of the family, but that’s what they have always been to me.  I hope each of you has a wonderful holiday, reminiscing with your family – including your cars.

By the way, my dad now proudly drives a minivan.  You just can’t get 4 sets of golf clubs in a sports car.

No vehicle has captured the hearts and imagination of parents and children at this time of year more than Santa’s sleigh. Yet little is known about this iconic ride that makes the rounds every December.  After a secret interview with Mrs. Claus, I am proud to bring you the exclusive scoop on Santa’s sleigh.   Unfortunately, no photos were available for security reasons.

Due to the high number of miles that he puts on his sleigh, Santa purchases a new vehicle every couple of years.  (He is clearly not a lease candidate!)  This year, Santa purchased a new 2007 Scania Julvagen, made by a leading European manufacturer of heavy trucks, buses, and diesel engines.   Santa selected the upgraded LS model with Hollyberry Pearl metallic paint, a charcoal leather interior and 24 inch alloy runners. 
Santa’s Scandinavian luxury vehicle is a six-seater convertible with a retractable hard top, which folds neatly into a spacious cargo area.  Interior amenities include a GPS navigation system, 6-CD changer, iPod dock, hands-free Bluetooth, heated seats, and a Naughty-or-Nice sensor.

The naturally aspirated 16-nostril power plant produces an impressive 8cp (caribou power) and 8 hf-lbs (hoof pounds) of torque, enabling it to go from zero to mach-10 in under 3 seconds while easily towing the Christmas Eve load.  The all-hoof drive and dynamic stability control system deliver exceptional traction on or off-roofs and even over icy surfaces.  While the EPA does not publish estimated MPG for reindeer powered vehicles, the Scania Julvagen has proven very fuel efficient in previous model years.
The only option available on the Julvagen is the Premium Rudolph Package, which adds a front fog light, backup-assist camera, and additional caribou power.
Due to the unfortunate methane emissions produced by the reindeer, Santa is considering a hybrid vehicle for 2008, which can be powered either by the reindeer engine or modern hydrogen fuel cell technology.

After a long, hot summer, autumn has finally arrived in the Carolinas.  With it come shorter days, cooler temperatures (finally!) and the beginning of the holiday season.  Although the holidays bring us joy and excitement at the thought of festive parties, family gatherings and delicious food, they also bring many driving dangers. 

You may have noticed that the sun has already set by the time most people leave work.  Between the decreasing daylight and numerous holiday party invitations, people drive more at night during the holiday season than any other time of year.  Yet, most people do not realize the dangers of night driving.  According to the National Safety Council, traffic death rates are three times greater at night than during the day.  Ninety percent of a driver’s ability depends on vision, which can be greatly impaired after dark.  Depth perception, color recognition, and peripheral vision are compromised during and after sundown.  In fact, twilight is one of the most difficult times to drive, because your eyes are constantly changing to adapt to the growing darkness. 

Another holiday driving danger is fatigue. During the holiday season, it is easy to wear yourself out shopping, decorating, and going to parties.  May people drive long distances at a time to visit family and friends.  The holiday rush can lead to exhaustion, which makes driving more difficult by dulling concentration and slowing reaction time.  College students driving home for the holidays may face a particular risk, especially if they’ve been sacrificing sleep for studying. 

Holiday party-goers should be extra careful driving home from those festive events.  While indulging in a cup of eggnog or two can be fun, it is important to remember that alcohol is the leading factor in fatal traffic accidents.  Alcohol also increases the risk of falling asleep behind the wheel.  When you are tired, one drink can feel like four or five.  Driving home from a party can be especially dangerous if you combine alcohol with fatigue.  Watch your own alcohol consumption, don’t drive if you feel sleepy, and be alert for other drivers on the road who may be under the influence.

You can further minimize after-dark dangers by following special driving guidelines and properly preparing your car.  Turn on your headlights as soon as the sun begins to set.  This will not only improve your vision, but it will also make you more visible to others.  Reduce speed and increase your following distance at night.  No matter how good your vision is, you cannot see beyond your headlights, so maintain a speed that allows you to stop in that distance.  Clean your headlights, taillights and the inside and outside of windows at least once a week to maximize your ability to see clearly.  Keep flares, a flashlight and a blanket in your car, just in case you have a nighttime breakdown.

The holiday season is the most dangerous time of the year to be on the road.  Increased traffic, reduced visibility, exhaustion and alcohol consumption can turn holiday joy into tragedy.  However, taking these simple precautions and using good judgment can help you arrive safely at your destination.  Happy Holidays!

The 2007 Charlotte Auto Show report ran this past Thursday through Sunday at the Charlotte Convention Center. The Car Chick, of course, was there. I spent 10 hours over two days crawling through every single 2008 model vehicle they had! And, my favorites were not at all what I expected.

The newly redesigned Honda Accord was exceptional, but this I expected. It’s essentially an Acura in terms of interior luxury and style. The Toyota Highlander was also very impressive with A+ comfort and usability. However, it was the Kia Amanti and the Ford Taurus X that left the biggest impressions. The Kia Amanti is truly a luxury sedan, with an interior that could easily be confused with a Lexus. The Taurus X fits a unique niche in the world of many-sized SUVs and crossovers. It has the ride height of a crossover (just higher than a sedan), but unlike other crossovers, it has 3rd row seating and good storage space. If you need a 7 passenger vehicle but don’t want a tank or a minivan, this is the one to buy!

One of the best things about going to auto shows is getting see the cool and often wacky concept cars that the auto manufacturers of the world dream up. The Charlotte Auto Show, which runs this Thursday through Sunday at the Charlotte Convention Center, is not usually large enough to warrant an appearance by many future-mobiles, so I decided to bring one to you. The Honda FCX Concept will make an appearance this week at the glamorous Los Angeles Auto Show, but it is actually close to becoming a production reality. Honda’s fuel-cell concept car debuted at the 2005 Tokyo Auto Show and represents the second fuel-cell vehicle Honda has produced. The first was the original FCX built in 2002, which strongly resembled a Yugo. No wonder they only made 15 of them.

So, what the heck is a fuel-cell, one might ask. A fuel cell is a battery that employs an electrochemical reaction between hydrogen and oxygen, directly converting chemical energy into electrical energy with absolutely no carbon dioxide or other harmful emissions – just some water vapor out the tailpipe! The FCX Concept contains two hydrogen tanks, located between its rear wheels, giving it a reported driving range of about 350 miles. Its little electric motor is rated at 127 horsepower and 189 pound-feet of torque, allowing the FCX Concept to reach a top speed of 100 mph. This doesn’t sound like much, but this is no sewing machine. Much of the torque is available at very low speeds, assisted by a lithium-ion battery, so acceleration from a standstill is respectably brisk.

Of course, the 800 pound gorilla-sized problem with fuel-cell vehicles is the task of refueling. You can’t just go down to the corner gas station and exchange a hydrogen tank along with a propane tank for your grill. Widespread distribution of hydrogen to consumers is still decades away, so Honda plans to address this obstacle in a different way. One possible solution is the Honda Home Energy Station, currently under development, which extracts hydrogen from your home’s natural gas supply. Unfortunately, the process releases a certain amount of carbon dioxide, although much less than the amount produced by today’s gas-powered cars. A zero-carbon technology based on low-cost solar cells is also under development. Exactly when will either of these technologies will be ready and how much will they and the new FCX cost? It’s too early to say, but Honda is committed to developing viable, affordable fuel-cell technology. After all, Honda can’t let the Toyota Prius single-handedly save the planet.

I am frequently asked by my clients, “When is the best time to buy a car?”  Some people think that rainy days will deter car shoppers from trudging through lots, and make dealers more desperate to make a sale.  On the other hand, if you are slopping around in the rain, the salesman may think that you are desperate for a car and push for a higher price!  Many highline dealers (BMW, Mercedes, Porsche, etc.) insist that rainy days are great sales days because their customers would rather spend the warm, sunny ones on the golf course instead of in their showroom.  At any rate, I wouldn’t recommend making a major financial decision based solely on the weather report.
 
Weekdays are typically better for car shopping, since most people peruse the lots on the weekends.  Car dealers refer to weekends as the “tuna run” — there are so many customers on the lot, they just pull them into the net.  It’s harder to demand a low price when the salesman can simply turn to the next customer in line.  You stand a better chance during the week, when there are fewer fish in the sea.

An even better time to shop is the end of the month or quarter when dealers are trying to make their quotas.  The number of cars a dealer sells each month determines the number of cars he can get from the manufacturer next month.  It also affects the types of cars he gets (models and colors that are selling well vs. ones that are not) as well as marketing support dollars.  If a dealer is falling short of a quota for the month, he may forgo a profit on the car just to make his numbers.

The end of the model year and the end of the calendar year are often good times to buy.  Dealers need to clear out the previous model year vehicles in order to take delivery of the new ones from the manufacturer.  Many customers would rather have the newest model year, especially if there has been a re-design (like the new 2008 Honda Accord), so dealers must make the older vehicles more attractive by reducing the price.  The manufacturers will usually offer incentives in the form of customer rebates, cash discounts and low finance rates to help dealers move the old inventory.  But, don’t think this is the only time to find great incentives.  Manufacturers will offer them any time during the year when they feel the need to increase sales.

To confuse matters further, certain types of cars tend to sell better at certain times of the year.  Trucks and SUVs are popular fall and winter buys for customers living in snowy climates.  Conversely, convertibles command higher prices in the spring and summer, save for those sunny states where going topless is feasible year-round.  

The bottom line is that the price of any given vehicle depends on supply and demand.  (Remember high school economics?)  If the dealer needs to move a car, you can get a better deal.  If a car is hot in the market and flying off the lots, be prepared to pay accordingly.  To make sure you get the best possible deal on the vehicle you want, contact Women’s Automotive Solutions.  Our strong relationships with the car dealers combined with our knowledge of the buying process ensure that you will get a great deal without the frustration and time commitment that can come with shopping on your own.

The Mercedes-Benz E-Class, whose roots date back to the late 19th century, has long been a favorite in the midsize luxury sport sedan segment, providing a delicate balance of comfort, performance and safety. While the current E-Class includes six sedans and two wagons, it is the diesel-powered E320 BLUETEC that has captured the eye of many eco-conscious consumers. The E320 BLUETEC, which debuted for 2007, uses Mercedes’ new clean-diesel technology.

With today’s appalling gas prices, the E320’s 26 MPG city/37 highway numbers are very attractive. (You can go 700 miles on one tank of gas!) Unlike most hybrid vehicles, which are priced several thousand higher than their traditional counterparts, the starting price of the E320 is just $1,000 more than a gas-powered E. The E320 BLUETEC uses low-sulfer “clean” diesel (available at most filling stations these days), and the 2008 model meets emissions standards in all 50 states. The technology is so impressive that the car won the 2007 World Green Car Award, presented at the New York International Auto Show.

The E320 sports a 3-liter V6 with a mere 208 horsepower, but a whomping 400 lb-ft of torque. You may not be impressed with the car’s acceleration off the line, but you will blow by any slow-moving trucks on the freeway! The BLUETEC is offered in RWD only, with a seven-speed automatic transmission. It comes with all the luxuries you would expect at this price point, such as a sunroof, dual-zone climate control, leather power seats and a powerful 6-CD audio system. Standard safety equipment includes front airbags, front-seat-mounted torso airbags, side-curtain airbags, antilock brakes, and electronic stability control. DVD Navigation, heated seats, Bluetooth, satellite radio, parking assistance and iPod integration are also available. The E320 starts at $52,675 and includes a 4 year / 50,000 miles bumper-to-bumper warranty. And, if you’re worried about the usual, loud grumbling of a diesel engine - don’t. This one is a quiet as a mouse.

An extended service contract (also called an extended warranty covers the cost of certain repairs after the vehicle’s original manufacturer warranty expires.  It is essentially an insurance policy against repair bills.  Extended warranties can be purchased for both new and used cars (depending on the age and mileage). 

The cost of the warranty depends on the type of car, its age and mileage, and the level of coverage.  Warranties for Asian cars (Honda, Toyota, etc.) are the cheapest, and warranties for high-line, European cars (BMW, Mercedes, etc.) are usually the most expensive due to both repair costs and reliability.  Three “tiers” of extended warranties are typically offered, depending on the level of coverage you desire.  The lowest tier covers the basic, power train components, such as the engine, transmission and drive axle.  The middle tier typically covers your brakes (including ABS), A/C, steering and basic electrical components (not including navigation or DVD systems).  The top tier is usually a bumper-to-bumper warranty that covers almost everything except normal wear-and-tear components (tires, wiper blades, etc.) and after-market parts.  Coverage for navigation and DVD systems may be extra.  Contracts known as “wraps” are common for vehicles like Hyundai and Kia, which have longer factory warranties for their powertrain components.  These wraps extend the “bumper-to-bumper” warranty to equal the term and mileage of the longer powertrain warranty.

Every warranty is different, so be sure to get a comprehensive list of what is covered, what is excluded, and any deductibles and proof-of-maintenance requirements before you sign.  Some contracts cover the cost of towing, rental car and even hotel stays, but others do not.  Some contracts have a per-part or per-incident deductible of $50, $100 or $200, others have no deductible.  Also check where you can get the repairs done, and how the shop will be paid.  A good warranty will have many authorized repair shops across the country, including both independent shops and franchised car dealers.  The repair shop should contact the warranty company for authorization prior to making any repairs, and the shop should bill the warranty company directly for the repair costs.  Finally, the company that backs the service contract (and the re-insurer who backs them) should be financially sound and have a strong track record in the industry.

But, are extended warranties worth the money?  That depends on several factors.  People who buy and trade cars frequently or lease should pass on an extended warranty. There’s no need to purchase one if you only plan to keep the car for three or four years since repairs are covered under the car’s original warranty.  If you plan to keep the car longer and you don’t like surprise expenses, then an extended contract might be a good option - but only if you don’t pay too much for it!  Women’s Automotive Solutions offers service contracts through third party vendors that are comparable to the top quality warranties offered at dealerships, but at a significant discount. 

While you should not select a warranty solely on price, if the coverage and quality are the same, why not save some money!  And you don’t have to rush your decision.  Most warranty companies allow you to sign up after you have purchased your new or used car or even after the original manufacturer warranty has expired.  However, it is significantly cheaper to buy an extended warranty before the manufacturer warranty expires.  If you prefer to buy the warranty from the dealer, then negotiate the price as a part of the deal. 

Don’t get forced into buying an extended warranty!  If a warranty company calls you and tries to pressure you into buying a warranty on the spot - beware!  Some of these companies are not legitimate!  Always check out warranty companies with the Better Business Bureau and research them online before you buy.  Buying an extended warranty is your decision and yours alone.

Let’s face it – Ford Motor Company is in big trouble. For more than a decade, the Blue Oval has been hemorrhaging both money and market share, losing out to competitors both foreign and domestic. While the popularity of the Mustang and F-Series trucks has helped Ford’s bottom line, their acquisition of Land Rover has not. Ford’s leadership further shot themselves in the collective foot when they “re-branded” the popular Taurus. Ignoring the previous success of the “Taurus” brand, Ford renamed its full-sized sedan the “Five Hundred” for 2005. (Gee, are we trying to be like Chrysler 300?) Between the unfamiliar name and a less-than-exciting new design, the automobile-formerly-known-as-Taurus went from being the best selling car in America to one of the worst. (Even Hertz stopped buying it!)

Ford’s executives have finally realized their mistake (actually, those execs were fired) and have brought back the Taurus for 2008 – and it looks like they’ve done it right (or, at least, better). The 2008 Taurus, introduced this June, has received an engine upgrade, a face lift and many positive reviews. The flagship sedan now wears the branded 3-bar grill and boasts a 263-horsepower V6 engine, a cavernous trunk, and a more upscale (and quieter) cabin. Rated the safest full-sized car in America, the new Taurus earned the National Highway Traffic Safety Administration’s highest 5-star rating for all four seating positions. (Isn’t it nice that the people in the back seat are safe, too?)

The Taurus is available in either front- or all-wheel drive and two trim levels, the base SEL and upscale Limited. The SEL starts at $23,245 and has 17-inch wheels, full power accessories (including a power driver seat), a leather-wrapped steering wheel, wood grain interior trim, air-conditioning, a CD player and MP3 jack, cruise control and an auto-dimming rearview mirror. Moving up to the Limited ($26,845) gets you 18-inch wheels, leather upholstery, a power passenger seat, heated front seats, driver memory seat and mirrors, dual-zone automatic climate control, an upgraded audio system with a six-disc CD changer, heated mirrors with puddle lamps, and a nostalgic analog clock. (Are we sure this is a Ford?!?) Additional options include a moonroof, navigation, rear-DVD, satellite radio and the new Ford Sync system, which allows voice activation of cell phones and entertainment systems. Not bad for the world’s most popular rental car.