Tuesday, 10 June 2014

As TrueCar IPOs, The Fuelist Launches Classic Car Pricing App ...

As TrueCar IPOs, The Fuelist Launches Classic <b>Car Pricing</b> App <b>...</b>

As TrueCar IPOs, The Fuelist Launches Classic <b>Car Pricing</b> App <b>...</b>

Posted: 18 May 2014 01:42 PM PDT

TrueCar's public offering on Friday showed that investors are willing to back a service bringing price clarity to new car buyers — and the founders of The Fuelist are hoping that same appetite for price clarity will drive demand for their vintage car and motorcycle pricing service.

People spend a lot of money on classic cars worldwide; with one English dentist set to receive a roughly $168 million payout for his collection of 450 classic cars. Roughly $13 billion changes hands between classic car collectors worldwide, according to Fuelist co-founder Thomas Rand-Nash.

According to a recent article in The Economist, the pace of investment in luxury vintage cars is rising faster than any other luxury asset. It's no secret that rich investors are finding new things to speculate on and classic cars seem to be as good a place as any to park a few thousand (or a few million).

The Fuelist offers a way for buyers and sellers to compare pricing for vintage cars worldwide. A user can select from hundreds of different car makers and models to find the sales prices for a particular style of vehicle… or a range of prices for different cars. On Monday, the company will submit a mobile version of its online service through the iPhone app store, according to Rand-Nash.

Even private equity funds are creating strategies to invest in classic cars — and with the advent of an institutional investment community collectors or investors could find that the stock of "cherry" cars could be gone in 60 seconds.

Fuelist has spent the past several months in a private beta for its first 1,000 users, according to Rand-Nash, a serial entrepreneur who previously co-founded the mobile app development company Mobile Genius LLC with his Fuelist partner Matthew Hamilton.

Rand-Nash envisions several revenue streams for The Fuelist. At a basic level the company will be charging subscriptions for access to its business intelligence and analytics around car pricing and the best place to sell a vehicle. For investors or institutions, the company will offer comparable pricing tools so that a user can find a range of different vehicles sellign at a similar price point.

The company is majority owned by the OTC Bulletin Board listed The Chancellor Group, a conglomerate which owns both oil and gas and technology and media properties, according to Rand-Nash.

Photo via Flickr user Trailers of the East Coast

May 2014 <b>car</b> sales, <b>prices</b> continue to rise as loan terms lengthen

Posted: 03 Jun 2014 12:05 PM PDT

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So far, 2014 has been a good year for car sales, with monthly tallies showing growth at almost all major carmakers, and predictions sunny for summer. May's car sales figures reflect a continuation of that trend, with many brands reporting their best sales month in years.

CHECK OUT: SUVs With Captain's Chairs Plus Third-Row Seats: Shopper's Shortlist

General Motors and Toyota report their best sales since 2008, while Ford Motor Company claimed its best month since 2005. Audi and Porsche had their best sales month ever in the U.S., while BMW reported its best May results ever.

On top of the strong sales results, new car transaction prices rose 2 percent in May, according to Kelley Blue Book. Premium models are expected to drive further sales growth throughout 2014, according to JD Power and LMC Automotive. LMC Automotive's senior vice president of forecasting, Jeff Schuster, said, "Nearly one-half of the new-model activity in 2014 will be premium vehicles, which is expected to create new competition for mainstream segments as premium price points cross into those of many non-premium  models."

Kelley Blue Book senior analyst Karl Brauer notes the role of premium vehicles in the market, saying, "Small and mid-size car share has declined slightly, as car shoppers opt for small and mid-size crossovers, helping boost this month's average transaction price."

Supporting this increased appetite for more expensive, more premium vehicles is a trend toward longer loan terms in the automotive financing market. Experian Automotive reports the average loan term has reached a record high of 66 months, while loans with terms of 73-84 months grew 27.6 percent in the first quarter of 2014, accounting for 24.9 percent of all new vehicles loans issued. Likewise, the average amount financed is also at an all-time high of $27,162 through the first quarter, a rise of $964 from 2013.

ALSO SEE: How To Kill Your Car

For a look at how the plug-in electric car market fared in May, read the analysis at Green Car Reports.

Here are the sales figures reported by automakers for the month of May 2014:

General Motors: GM [NYSE:GM] sold a total of 284,694 vehicles in May, a rise of 13 percent from May 2013. Chevrolet sold 205,010 of that total, up 14.2 percent. GMC accounted for 45,039 sales in May, a gain of 8.3 percent. Buick sold 19,957 cars, gaining 11.0 percent, and Cadillac sold 14,688 cars, rising 6.4 percent.

Ford: Ford Motor Co. [NYSE:F] says its combined Ford and Lincoln brands sold 254,084 vehicles in May, up 3.0 percent from the year-ago period. The Ford brand accounted for 245,239 of those sales, a year-on-year gain of 2.5 percent. Lincoln rose 21.1 percent against May 2013 with 8,845 vehicles sold.

Toyota / Lexus / Scion: Toyota recorded 243,236 vehicles sold across its three U.S. brands in May, a rise of 12.6 percent from last May. The Toyota division sold 216,315 vehicles, a 12.2 percent gain. Lexus division sold 26,921 cars, a 16.6 percent rise.

Chrysler: Across its four brands, Chrysler sold 194,421 vehicles in May, a 17 percent gain from last May. Chrysler's Jeep brand led the company's sales rise in May, up 58 percent to 70,203 vehicles. The Chrysler brand fell 22 percent to 22,592 vehicles sold. Dodge brand vehicles sold 57,923 examples, a 3.0 percent gain. Fiat sold 4,771 cars, up 18 percent. The Ram Truck brand sold 38,932 trucks, gaining 19 percent.

Honda / Acura: American Honda sales rose 9.0 percent in May, to a total of 152,603 vehicles. The Honda division accounted for 137,928 of those sales, rising 9.8 percent from last May. Acura rose 2.2 percent on 14,675 vehicles delivered.

Nissan / Infiniti: Total Nissan Group sales in May rose 18.8 percent to 135,934 vehicles. Nissan Division sold 125,558 vehicles, rising 17.8 percent from May 2013, while Infiniti sold 10,376 vehicles, a 31.4 percent gain.

Tips For Negotiating With A Used <b>Car</b> Salesman « CBS Cleveland

Posted: 09 Jun 2014 03:00 AM PDT

Car salespeople in general are often treated with great mistrust, but rightly or wrongly, it's the used car salesman who leads the stereotype of sliminess. But there are ways to make sure you get the upper hand in the negotiations once you've zeroed in on your used car.

Check the car's value

The Kelley Blue Book is a leading tool to estimate the value of a used car. Also look up many listings for the same car, and ask your salesperson to beat the price of a similar car sold elsewhere. Be prepared to walk away and buy one of those similar cars instead if you don't get anywhere.

Inspect the car carefully

It's always recommended to get an independent mechanical inspection and request a vehicle history report (from Carfax or one of its competitors) when buying a used car to make sure you don't end up with a lemon. But also scour the vehicle for more minor cosmetic blemishes that you can point to when you explain why the car's price should be lower.

Check different prices

A used car dealership will typically list the same car all over the place. There will generally be an ad on its own website and also on such websites as Craigslist, AutoTrader.com or Cars.com, plus a sticker price on the car itself. And often those prices vary, sometimes by thousands of dollars. Make sure you know all of them so the negotiations can start with the lowest one.

Don't commit too soon

There are many pitfalls to buying a used car and many stages of the process where you could end up with a bad deal. It's tempting to just power through when you've already invested a lot of time in a particular car, but if the negotiations aren't going well, you may just have to bag it and start over. Remember, it's still less painful than overpaying or ending up with a car you don't like.

Brady Holt, a Washington D.C. newspaper reporter, has had a lifelong interest in cars in the automotive world, and he'll share his thoughts at every available opportunity. Brady has written for Examiner.com since 2008, publishing hundreds of car reviews, automotive news pieces and other features. His work can be found on Examiner.com.

Tips For Buying A New <b>Car</b> « CBS Cleveland

Posted: 09 Jun 2014 03:30 AM PDT

Buying a new car can be stressful, but if you do things right up front, you're setting yourself up for years of a better ownership experience and potentially thousands of dollars in savings. Here are some must-dos when you shop:

Choose carefully 

Too many buyers select a single car without looking at the competition, and they're likely missing out. Read reviews online from professional critics and owners to help guide you toward cars that might interest you, and then form your own impressions by test-driving those that seem promising.

The most helpful reviews knowledgeably compare a car's pros and cons against its competitors instead of speaking generally or always being positive – you'll find both types on the internet. And for your test drives, try to envision the way you'll use your car and see how it would feel in those cases.

Pay attention to prices 

A car's MSRP, or sticker price, isn't reflective of what you'll actually pay – a salesperson will give you a better deal on some cars than others, based on demand, built-in profit margins and various other factors. Visit TrueCar.com to get a sense of the actual going rate so you won't rule out a car for being too expensive without realizing that it's heavily discounted.

Shop around

Just like you shouldn't buy the first car you see, you probably don't want to buy from the first dealer you talk to either. Nearly every dealership will give you a price quote online. Seek out competing quotes from multiple dealers once you've chosen a car or even while you're narrowing down which car to buy and want to see which one would cost less.

You can negotiate efficiently by email or over the phone, encouraging dealers to either beat each other's prices or to explain what they offer to justify a higher price. Make sure, too, that the dealers include their mandatory fees in the price quotes your receive.

Brady Holt, a Washington D.C. newspaper reporter, has had a lifelong interest in cars in the automotive world, and he'll share his thoughts at every available opportunity. Brady has written for Examiner.com since 2008, publishing hundreds of car reviews, automotive news pieces and other features. His work can be found on Examiner.com.
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