If you’re thinking about buying a car sometime in the near future, you might want to consider expediting your purchase. The best time to buy a car is now.
It’s a good time to be in the market for a new car – especially if you plan to finance the purchase, as nine out of 10 Americans do. Buyers with good credit can take advantage of some very low interest rates.
Rates for new and used car loans are at “their lowest point in the past few years,” according to a new survey of 157 lenders by the website WalletHub. The average interest rate for new-car loans is currently 4.29 percent and 4.96 percent for used cars.
Their 2015 Auto Financing Report also found that interest rates vary greatly from lender to lender – so it really pays to shop for that money.
“People in the market for a new car should start their search for financing with the manufacturer,” said WalletHub’s Jill Gonzalez. “Car manufacturers are pumping out vehicles in record numbers and they’re really pushing lower interest rates to stimulate sales.”
WalletHub found that the average loan from the manufacturer is currently about 35 percent below the national average. Car loans at credit unions are 25 percent below average, national banks are roughly average and regional banks are 40 percent above average.
The manufacturers currently offering the lowest financing rates, based on this survey are: Nissan, Toyota and Chrysler.
Jack Gillis, author of The Car Book 2015, cautions buyers that the financing arranged through a dealer may be higher than what’s offered from the manufacturer.
“Often the low interest rates advertised by dealers require extraordinarily high credit ratings and sometimes are accompanied by extra fees,” Gillis told NBC News. “Before you talk financing with the dealer, check with your credit union and banks to see what they offer. It’s the only way to know if the dealers’ financing is a good deal.”
Read more here: http://www.today.com/money/whens-best-time-buy-car-right-now-survey-shows-2D80507620
Everyone wants luxury, but those who can afford it should consider the new Mercedes C-class. Mercedes-Benz is vying for the luxury compact crown with the redesigned 2015 C-class sedan, equipped with new technology and features trickled down from the S-class flagship.
BMW is the market leader in the segment, with the 3- and 4-series compacts. But Mercedes-Benz executives say the C class may finally give them the edge.
The C class looks like a smaller version of the S-class sedan, and it has the optional $2,800 Intelligent Drive package of integrated safety features. They include adaptive cruise control, rear-end collision protection, Pre-Safe braking and steering, and cross-traffic and lane-keeping assist.
“Mercedes-Benz is demonstrating that we are not just going to set the standard with the S class, our goal is to set the standard in every segment — even one that might be traditionally associated with the 3 series and BMW,” said Steve Cannon, CEO of Mercedes-Benz USA. “We have spent the last few generations closing that gap.”
With the new-generation C class that goes on sale Aug. 25, “we are going to set a standard for style, for interior fit and finish and standard features,” Cannon said. “We have been more of an S- and E-class company.”
To further separate the C class from the CLA sedan — the entry to the brand that went on sale last year — Mercedes made the C-class sedan about 4 inches longer and 1.5 inches wider than the previous model.
With the frame and body structure made of aluminum, it will be more agile and handle better than today’s model, said Bart Herring, general manager of product management for Mercedes-Benz USA. The redesigned C class is up to 200 pounds lighter than today’s model.
The C class will have Collision Prevention Assist Plus as a standard feature. The system senses if a collision is imminent, and if the driver doesn’t respond, it autonomously brakes the car at speeds up to 124 mph. It also can brake to avoid a stationary vehicle ahead and to prevent rear collisions.
Competing brands don’t offer this feature in this segment — or on many of their high-end vehicles, Cannon said.
Collision Prevention Assist Plus “is us throwing down the gauntlet — no one has it in the segment,” he said. “Our competitors do not have it on their highest cars. It demonstrates where we are going.”
The Intelligent Drive package is another edge, said Herring. “We have networked it to almost give the car senses to set you up to make better decisions or assist to keep you out of danger. That is cool on a $100,000 S class. Will this new technology take off? Who will be the next to adapt this technology to their line of vehicles?
Ford came out today with revised fuel consumption for six vehicles after doing further testing and realizing they made a error in the original specs.
The decision was made after Ford identified an error through its own internal testing. The Ford and Lincoln vehicles that are affected by the fuel ratings change are the C-Max Hybrid, C-Max Energi, Fiesta, Fusion Energi, Fusion Hybrid, and the Lincoln MKZ Hybrid.
Ford has estimated that close to 13,000 vehicles from the 2013-14 year have been sold in Canada (200,000 in the U.S.) under these erroneous fuel consumption numbers. Ford intends to rectify the problem with customers by compensating leased and purchase customers with a monetary gesture between the ranges of $125-$1,800.
The issue would be found in its “Total Road Load Horsepower” (TRLHP), a resistance level used in vehicle dynamometer testing. The TRLHP testing for some of their model didn’t match the values applied for the dynamometer testing.
After assessing the problem and going through the tests again, Ford notified the EPA on their newly-known data and provided them with the new fuel economy numbers for five of their vehicles, including one Lincoln. All of the other vehicles had no change in fuel economy. Further, Ford has now implemented an enhanced validation test to prevent this error from reoccurring in other future vehicles. Ford has had a rough couple of months with the recall of last month and now the error in fuel economy.
It wasn’t long ago that the concept of a self-driving car seemed like something out of a science fiction film. Well, with the allies Google is making in the automotive industry, you may see self-driving cars on the streets in the not so distant future.
The Open Automotive Alliance that Google Inc. launched on Monday with a group of car companies will establish the Android operating system as a platform for apps in the connected car. The long-term significance of the deal, however, may be as a milestone in Google’s effort to build a working relationship with car makers, a critical step toward bringing its self-driving car technology to market during the next few years.
Google has been road-testing a fleet of more than 20 self-driving Audi’s for the past few years, and has said the technology will be ready for the commercial market by 2017. However, the company has yet to elaborate on its business plan for products based on the technology, let alone strike a deal with a car manufacturer or supplier willing to incorporate the software into its systems. There were reports last summer that Google would strike a deal with German parts maker Continental AG and with International Business Machines Corp., but no announcement involving Google was made. There even was speculation that Google might hire a contract manufacturer to build a car.
This sporty little number looks amazing! After a trio of teasers, Kia has finally unveiled its GT4 Stinger Concept at the 2014 Detroit Auto Show. Let’s get one thing out of the way right off the bat: Kia says in its press release that “there are currently no plans to bring the concept to production.” Of course, that’s a qualified statement: the automaker then follows that up by noting it “has a history of delivering production vehicles that bear a strong resemblance to the concept that preceded them.” So cross your fingers, kids – this looks like it could be a preview of the company’s first real sports car.
Through those three teasers, we’ve learned and seen more of the GT4 Stinger, and we largely like what we see. It’s a 2+2, rear-drive coupe with a detuned version of the 2.0-litre, turbocharged four-cylinder used in the Kia Optima GTS racer from the Pirelli World Challenge. The concept’s engine is said to be good for a healthy 315 horsepower, though the race-tuned Optima GTS can deliver upwards of 400. A six-speed manual handles the power, while staggered Pirelli PZero tires provide the grip. Those Pirellis wrap around a set of 20-inch wheels, complete with showcar-friendly centre locks, while 15-inch Brembo brakes and four-piston calipers mean the Stinger should be able to stop with as much authority as it will go. What the teasers haven’t been able to put into perspective, though, is GT4 Stinger’s size.
Read the full posting here.
I think this car is hot! Rumor and speculation say that Pininfarina’s 2010 Geneva auto show concept, the Alfa Romeo 2uettotanta, prompted Fiat to find a strategic alliance partner that would supply a small rear-drive platform for a 21st-century Duetto Spider. Mazda and Alfa Romeo have announced that a new, small Alfa roadster will be built off the next MX-5 Miata platform.
The next Mazda Miata is expected in the 2014 model year, while the Alfa, with unique sheetmetal, interior, and a Fiat-supplied engine, will go on sale in the ’15 model year.
This would be super–cool! The 2014 Nissan GT-R represents the fifth revision of the R35 series GT-R since its launch. We hear that at least two more updates to the present Godzilla are in the works and that the R35 will live on until at least 2015, though our source says it could be around until as late as 2017. The extended timeframe could be good news, as we’ve heard that Nissan CEO Carlos Ghosn only recently lit the green light to begin development of a new GT-R. So what’s next? Let the speculation begin!The most significant changes to the new GT-R will most likely be to its exterior design and engine. As you can see from this artist’s impression the next GT-R, the basic proportions should remain the same, while the headlights and aerodynamic package are likely to receive a big makeover in an effort to further maximize downforce and high-speed stability.
Like all automakers, Nissan is staring down the barrel of ever more stringent U.S. and European emissions regulations that will force it to continue to reduce CO2 output and improve fuel economy. According to our source, that means the next GT-R may have to employ “some electronic device” to help boost Godzilla’s mpg numbers.Nissan reportedly is looking at two potential options. The first is some kind of hybrid system. One possible future hint was the hybridized (and downsized to 3.7 liters) VR38DETT fitted to the Infiniti Essence concept car first seen at the 2009 Geneva Motor Show that produced an estimated 600 combined horsepower, though our source stresses that the Essence is not the next GT-R. Engineers are also evaluating a hybrid system similar to that of the Infiniti M35h. However, adding a hybrid system means bulking up the GT-R’s already substantial weight with motors and batteries, so unless designers can shave some 400 pounds off of the current car, a hybrid GT-R is likely to be problematic
Chief engineer Kazutoshi Mizuno hinted at a possible date for the next generation’s debut when he said his team’s entry in this year’s Nurburgring 24-hour race was to ensure the car had the performance, reliability, and endurance capabilities to “take the car up to 2017, when you can expect significant revisions.” As we left the circuit, Mizuno hinted that he and his team were already working on the next generation GT-R. But it was one of his talented younger cohorts who nodded a silent “yeah” when we suggested the next-generation coupe would be a hybrid. So, if nods are to be believed, then the all-important weight issue seems to have been solved. Now that’s good news.
By: Peter Lyon at www.motortrend.com
This car looks amazing! Audi’s Sport Quattro plug-in hybrid concept to be shown this week at the Frankfurt auto show generates 700 hp, yet has a fuel economy equivalent of 95 mpg, Audi says.
The company last week released pictures and details of the two-door concept, which is powered by a 4.0-liter V-8 gasoline engine and an electric motor and previews a possible technological flagship.
The concept has permanent four-wheel drive and is expected to go into limited production to form the centerpiece of Audi’s renewed 4wd focus after moves by Jaguar, BMW and Mercedes-Benz to increase the number of 4wd models in their lineups.
Audi says the concept can accelerate from 0 to 62 mph in 3.7 seconds. It can travel 32 miles on electric power alone.
If Audi Chairman Rupert Stadler gives the go ahead, the Sport Quattro will go into limited production in late 2015 priced at about $150,000. The production version is expected to use a modified version of Audi’s modular longitudinal architecture.
Audi said the concept is unusually low-slung, with a height of 55 inches. Its wheelbase, at 110 inches, is similar to that of the A5. The car is a hatchback with a rear tailgate opening.
The concept was created to mark the 30th anniversary of the classic Sport Quattro that made its debut at the 1983 Frankfurt auto show as a homologation model for the World Rally Championship.
The Sport Quattro concept is Audi’s second attempt to resurrect the revered model after the smaller but similarly styled Quattro concept unveiled at the 2010 Paris auto show.
Audi says the Frankfurt concept’s top speed is 190 mph.
By: Paul McVeigh at www.autonews.com
If you are a Jag fan like I am then this is good news! Jaguar will launch a mid-sized sedan based on a new aluminum architecture in the United States in 2016, giving the company what it hopes will be a much-needed volume model to compete with German rivals.
The company unveiled plans for the unibody architecture and sedan — which launches first in Europe in 2015 — with the introduction today of a crossover concept for the Frankfurt auto show.
The platform is designed to support “a range of future Jaguars,” the company said, including a crossover, a booming segment the brand would be entering.
The mid-sized sedan is expected to compete with premium German models such as the BMW 3 series and 5 series, and the Mercedes-Benz E class and new-generation C class.
It would give Jaguar a volume product that would help Jaguar Land Rover achieve its long-term global sales targets of 750,000 units by the end of the decade and 1 million units eventually.
Jaguar hasn’t confirmed plans for the crossover but the C-X17 concept unveiled ahead of the Frankfurt auto show is the strongest signal yet that the brand plans to enter the segment.
Land Rover markets the Evoque compact crossover but the lack of an all-wheel-drive crossover has slowed Jaguar Land Rover’s growth and competitiveness in markets such as the United States.
Larger rivals BMW, Mercedes and Audi — and even Porsche — have been marketing crossovers for years, drawing new buyers and adding incremental sales volume.
“The C-X17 sports crossover represents an exciting new direction for Jaguar. Its purpose is to highlight our all-new aluminum architecture. With this technical foundation, we will dramatically expand Jaguar’s product offering, market potential and customer appeal,” said Adrian Hallmark, global brand director for Jaguar.
“This new philosophy will bring technology from our top-of-the-range products into new growing premium segments, and when combined with our new ultraefficient engines, we will set a global standard.”
The crossover will be named the XQ or Q-Type while the sedan will be called the XS, according to media reports.
First aluminum unibody in segment
Jaguar claims the sedan will be the first aluminum unibody vehicle in the C and D segments.
The sedan and other variants off the platform will use a new-generation Jaguar Land Rover-developed four-cylinder engine. Jaguar plans gasoline and diesel versions of the high-output, fuel-efficient engines.
The small-displacement engines will be made in a new $776 million factory in Wolverhampton, England.
By: Diana T. Kurylko at www.AutoNews.com