AP is reporting 212,000 Chrysler Sebrings/Dodge Avengers being recalled….tough break for the new Chrysler group. I wish them the best, but I gotta say, the Sebring/Avenger is almost as ugly as the Nitro. Take that back…its WAY uglier. Ever wonder why Chryslers lease like crap? This is why.

Chrysler recalling 212,000 Sebrings, Avengers

In the auto world, “R” is synonymous with speed, sport and/or racing. Unfortunately, for this day in age, the only think that pops into our heads is Recession. With the Fed’s finally “getting” the hint, its pretty much official. The auto world seems to be suffering quite heavily due to the credit crunch. Last night while watching the news, it seems auto sales have dropped significantly (click for story).
As unfortunate it is for them, it is a blessing for those of us who are seeing their first or their next ride. Chances are, auto makers will have to begin pitching better incentives to keep their cars moving since we’re approaching summer and their 2009 models will be arriving shortly. The last thing they want is to have the 09’s arrive and still have left over 07’s sitting in the lot (I know Chrysler still have some 07 around, I found a 07 Charger R/T last week for with a $9000 rebate, brand new too! ) No matter what car you want, there are deals to be had, just as long as you are not longing for something exotic or high in demand (3-series for example) .

Want to know how big of an impact this will have on our economy? Read
the link below:

Auto sector feels pinch of credit crunch

For my 5th lease, I’ve decided to narrow it down to the following models.
The younger, mid-life crisis part of me is currently enticing me to go with one of these…

Infiniti G37 (Base or Journey)
Nissan Altima Coupe 3.5SE
Honda Accord EX-L V6 Coupe

My reason for looking at these 2 Nissan models is because my company has a Vehicle Purchase Program which entitles me anywhere from 1.65% to 3.58% under invoice price for any Infiniti and 2.87% to 4.3% off invoice for any Nissan. (Nissan VPP) This puts me at a pretty solid price point. However, my reasons for not pulling the trigger yet is because the interest rate on the Infiniti’s higher than I’d like (4.65% or so…OUCH!) Better rates should be available considering Fed’s keep cutting rates.

The other reason is that my wonderful Mazda3 will have pretty heft turn-in fee ($650 or so….I know, I should have know better…I do know now of course) which its making it difficult to keep the costs down for my next ride.

As for the Honda, the rates and residual are just not there…costing way too much to even consider at this point.

The more “conservative” part of me is telling me to go with these other options:

Acura TL Base
Infiniti G35 Journey
Toyota Camry SE V6

The Acura has the best deal right now, as mentioned in one of my previous posts. But I don’t really want to have such a common ride (this is mostly pride talking). I have a friend who owns one…and he’s reported whistling sounds at high speeds and apparently, there are others suffering the same fate. Not a big deal since its not a major mechanical problem, more of an annoyance.
The G35, like other Infiniti’s fall under the VPP my company offers. So if the G37 turns out too pricey, I can fall back on the G35 and still be happy.
Camry was having pretty solid lease terms for the month of March since the 09 models are rolling in. All other trims are nasty, so SE is the way to go.

Lastly…the “utilitarian” part of me suggests…

Mazda CX7 GT

Mazda’s typically have crummy residuals, but this model in particular is in fairly good demand, making its resale value decent compared to something like the RX-8. Add on some cash incentives and decent MF, you can probably net one of these around mid-300s per month with little to no money down. Being a crossover SUV, gas mileage is going to suck…but it’s a good looking car and as long as I go easy on the gas pedal, I should be fine.

I don’t like most GM/Ford family vehicles (I know Mazda is partly owned by Ford, but lucky for me, they are minority owners), which explains why I don’t even consider them. Poor resale, poor quality, ugly designs and plastic interiors typically score very low on my desirability scale.

No test drives just yet, but once I’ve done that, the list of candidates show narrow down a tad. Lease is up August 08 on the Mazda3, so I got a few months to figure things out. Got a list of your own? Don’t like my choices? Post a comment…would love to hear from ya.

This is a rant post, you may and may not agree with me, but this particular point of view is worth knowing.

I think its criminal how dealers mask leasing rates by pitching monthly payments. How many times have you gone to a dealer, sat down with them and the first thing they ask you is “how much do you want to pay a month?” followed by “how much money do you want to put down”. At times, they even have the nerve to lie to you and say “the price of the vehicle is not important, you are just leasing the car”. That is why, car salesmen(women) are often viewed to be lower than dogs (no offense to all the puppies and dogs in the world). Personally, I think they should clean up their act because they prey on the innocent and the less “informed”. Sure, ignorance isn’t an excuse, but taking advantage of people who are not well informed scored very low in the morality scale. Ever wonder why the housing bubble burst? Same thing…unscrupulous lenders pitching really bad loans.

I believe that money factors and residuals should be openly discussed, if the customer does not know, sales/finance folks at the dealership should educate them. Sure, leasing isn’t as big of a risk as buying a home, but it gets expensive when you need to get out of them.

So to all dealers and sales folks out there…Cut the crap, I know what you’re up to, stop pitching monthly payments and lets look at the core numbers. I know how you come up with them, and I’m hoping this site will inform others as to how you come up with them as well. I know you all gotta eat and make a living, but does preying on unsuspecting customers really make you sleep better at night?

We all have, at one point or another, wondered if that car sitting in your garage REALLY requires the premium gas or if maybe, just maybe, you can get by with regular. First of all you have to learn how to read between the lines..when a manufacturer “RECOMMENDS” a certain octane rating, it doesn’t mean its “REQUIRED”. With gas prices hovering around 3.39 for regular and 3.59 for premium here in Southern California, you just can’t help but watch your wallet get thinner and thinner every week. Assuming you fill up for 15 gallons each time, you’re looking at $3 difference between regular and premium. Thats good for a couple of Chalupas right there! Do this once at week and you’re looking at around $12 bucks a month…so over a course of the year, you’ll have $144 (give or take) worth in savings by opting for regular over premium. Of course my calculations are rough estimates, it is safe to assume your savings will much more due to daily price fluctuations and the fact that you don’t always gas up at the same station.

The safest way to make sure its safe to downgrade to regular is to check your car’s manual. If they say 89 octane gas can be used with some minor “hit” in performance/mileage, then you may want to do it. If 91 octane is required, then you don’t have a choice but to open that wallet further.

I did a little testing on the cars I’ve leased in the past and recorded them one fueleconomy.gov. On my 03 Audi A4 Quattro, I was averaging about 20.1 mpg on mixed driving, the normal average being 21 mpg. Minor hit for using regular over premium. Now on the 2007 TSX, I was getting 26 mpg on regular, with the average being 23mpg in mixed driving. Both cars recommended premium, but it seems the Audi’s performance took a bigger hit, probably because it was turbocharged. So if you’re leasing, feel free to just gas with regular if your car allows it. If you buy, I would probably recommend you to stick with the recommended grade since you are OWNING the car and probably want to baby it so it lasts.

Worth reading:

Fact or Fiction?: Premium Gasoline Delivers Premium Benefits to Your Car