Well, well.
Seems our elected officials have opted for the $700 billion bailout. I should have failed in business. Would have been more profitable in the long run.

But enough of that. At least your money is safe–if it’s in a Credit Union.

Cars, oh yeah–
Guess what? The dealers with the multi-million dollar inventories are starting to call. Subarus below invoice. Used cars below wholesale, etc, etc. Not a bad time to buy if you’re looking.

Let’s talk hybrids. The straight scoop is they don’t save you money. In the true “cost to own” derby from Edmunds the Prius comes in 34th.  Why? Currently there is a Prius shortage, so the price is artificially high.

Next is gas prices and consumption. How many miles do you have to drive to make up the $4000(+-) premium for the hybrid? The answer is lots–

Go to http://www.edmunds.com/calculators/gas-guzzler.html to see if you are really going to save money.

I’m not anti-hybrid, I am pro-green (green as in money)–spend yours wisely.

Remember Auto Solution and your Credit Union will save you money on the purchase and financing of your next vehicle.

And just to lighten it up a little, here are the top 10 ways to tell if you need a new car:
     10. Your passenger seat is on the National Register of Historic Places.
     9. Instead of an air bag, there is a whoopee cushion taped to your steering wheel.
     8. You lose the stoplight challenge to a 14 year old on a moped.
     7. 15 Minute Jiffy Lube needs to keep your car for 3 days.
     6. When you gas up, the attendant asks, “Can I re-duct tape that windshield for you?”
     5. Thieves repeatedly break in your car just to steal “The Club.”
     4. While sitting at a stop light, people keep running up to you and asking if anyone was hurt in that  wreck.
     3. For the last five years, you’ve had to settle for making “vroom, vroom” noises while in the driveway.
     2. You keep losing dates on left turns.
     1. Traffic reporters start referring to you by name when discussing morning tie-ups.

On the cover of Automotive News (Feb 4th) the headline screams!” In an Icy Economy, Early Signs of Frostbite–January sales soften, dealers scramble”

That sure is interesting, I know Auto Solution doesn’t speak for the industry at large, but we had our best January in 3 years–maybe consumers are looking around for good deals…ya think?

Ok, here’s Toyota’s newest- A system that monitors the eyes of a driver to tell when he or she is getting drowsy. If your eyes start to close it sets off an alarm. Guess you wouldn’t be able to drive and listen to the presidential primary speeches…

Maybe quality is not the problem- The CEO of one of our Credit Unions ordered a new Chrysler Town & Country van eight weeks ago. We dutifully ordered it through a Chrysler dealer and waited…3, 4, 5, 6 weeks with no news. I get on the phone to the dealer and he says:

“Oh, Chrysler didn’t have enough orders so they closed the plant for a while.”

“Closed the plant? What about the customer?”

I called the CEO and today delivered her a new Honda Odyssey. The problem wasn’t quality, it was a complete lack of customer service. I am a buy-American guy but I agree with her–Chrysler doesn’t want the business, so go somewhere else.

That’s it for the exciting update.  But believe me something funny will happen soon.  This is, after all, the car business.

FasTrax reader submissions — a totally unscientific (for humor only) contest to see who has the best “funniest thing you have seen someone do while driving” submission.  I will judge all entries and publish the two funniest, and winners will receive $100 gas cards. So enter often and please keep submissions mostly true. Email submissions to mark@cu-autosolution.com. This was brought on by a woman I saw applying makeup while drinking a “Starbucks” and talking on the phone–while driving.

Top vehicles for 1st 6 months (by sales) of 2007:

1. Ford F Series
2. Chevrolet Silverado
3. Toyota Camry
4. Toyota Corolla/Matrix
5. Dodge Ram

Seems $3.00/gallon gas isn’t hurting truck sales.

Here is proof positive that not everyone reads FasTrax:
Quarter One of 2007–
Of the 10 top auto lenders in the Pacific Northwest, only 2 were Credit Unions. Despite CUDL (Credit Union Direct) at the dealer financing. Come on folks — If you’re not financing at your Credit Union, you are losing, plain and simple.

Some Credit Unions are doing “Green Loan” promotions with Auto Solution. Buy a “Green Car” and get a better rate — a neat idea. If your Credit Union isn’t doing it, ask ‘em about it. Auto Solution has a turn key promotion geared toward “Green Loans.”

Ok that’s it. Be sure to enter the ‘Funniest thing I’ve Seen’ contest and win some gasoline.

Let’s talk auto loans for a moment–a new study by the Consumer Bankers Association shows that 61% of new vehicle loans are for longer than 5 years. A key factor, they say, is consumers owing more than the value of their present vehicle and the rolling of that negative equity into the new loan…resulting in negative equity on the new vehicle. Not a good idea. The same study says that dealer markup on a new loan is 1.9% and 2.1% on a used car. Again, not good.

The answer?? Your Credit Union!! If they loan you money at 6% that’s it, no markup. If a car dealer can arrange a loan at 6%, the average rate passed on is 7.9%–Again borrow from your Credit Union!

And speaking of Credit Unions–notice how your Credit Union doesn’t have a lease program? That’s because it is a very poor way to buy a vehicle–yet in 2006 25% of new vehicle buyers leased—Boooo!!

Attend an Auto Buying 101 Seminar at your Credit Union to learn all about not leasing. Once you see it is black and white you’ll understand!

It’s not like we shouldn’t have learned– 1st the Gulf War…”Let’s stop dependence on foreign oil.” Then $2.00 gas…”No more foreign oil.” Then 9-11…”No more foreign oil.”

Continue reading ‘Makes you proud doesn’t it?’