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We give a goose egg to long-term car loans.(Up front: news / trends / advice)(Brief Article)
General Motors and Ford found a sure way to lure more people into showrooms: six-year, zero-percent auto loans, offered in late September on most 2004 models still left on lots. Industry experts say that six-year loans are here to stay.
The loans seem to be bargains. But when we took a closer look, we saw that they're a raw deal for two reasons:
1. Depreciation. With an auto loan lasting six years or more, the car could easily lose value faster than you repay the loan, Look at the numbers for a S22,000 2004 Ford Taurus. financed with a $20,000 six-year zero-interest loan. The loan covers an '04 car in the '05 model year, making the Taurus a year old and substantially depreciated as soon as it leaves the lot. If you wanted to sell the car after two years, it would be considered a three-year old model, retaining only 37 percent of its value, or $8,140. But you would still owe S13,333. In auto-financing lingo, you'd be "upside down."
A large down payment would help prevent that because you'd be financing ...
- AMA Detroit Announces September Meeting in Southfield with Featured Speaker Art...
- Press release article from: PR Newswire September 1, 1999 700+ words
...mail at tonih@ameritech.net. The featured speaker is Art Spinella and the topic is "Wishing on a Star: A Forecast of Consumer...spokesman for the company. Understanding why consumers buy new cars requires an understanding of why they buy computers, vacations...
- Average New-Vehicle MSRP Tops $28,000 for First Time Ever; Transaction Prices,...
- Press release article from: PR Newswire April 29, 2003 700+ words
...vast majority of new-car buyers are using at significant...vehicle they select," said Art Spinella, president of CNW...adjusted income of new-car buyers was in the $60...a year ago. CONTACT: Art Spinella or Stephanie Yanez of...
- Study Finds HEVs Consume More Energy Than Non-Hybrids.
- Newspaper article from: Electric and Hybrid Vehicles Today April 17, 2006 700+ words
...buying high-fuel-economy vehicles," said CNWMR president Art Spinella. "But if the concern is the broader issues such as environmental...conventional or even larger models over their lifetime." Contact: Art Spinella, CNWMR, phone 541-347-4718, website http://www...
- CNW Reports Largest Ever New Vehicle Discounts Over July 4 Weekend; Dealers...
- Press release article from: PR Newswire July 7, 2003 700+ words
...than a year. The typical new-car transaction price between July...total discount of $5,361 per car and light truck. This is the...level," said CNW President Art Spinella. CONTACT: Art Spinella of CNW Marketing Research...
- CNW Survey: Is it racism or something else? (Editor's Note: The following are...
- Press release article from: PR Newswire January 28, 2003 700+ words
...involved, a large component may be one of association," says Art Spinella, CNW President. "NASCAR drivers typically don't hang...applications and/or resumes to more than 150 companies. CONTACT: Art Spinella of CNW Marketing Research, +1-541-347-4718 Web site...
- National Vehicle Leasing Association Celebrates 40 Years of Success at its...
- Press release article from: Business Wire January 31, 2008 700+ words
...resort can offer! This year's keynote speakers include Art Spinella - President, CNW Research, Tom Kontos - Vice President...including key note speakers including such industry pundits as Art Spinella, Charles Vogelheim and Tom Kontos. The 2008 NVLA conference...
- CNW Increases Sales Forecast for 2002.
- Press release article from: PR Newswire May 6, 2002 700+ words
...are sufficiently strong to justify the increase," said Art Spinella, vice president and general manager of CNW. The 16.6...tbutton.prnewswire.com/prn/11690X83233845 Contact: Art Spinella of CNW Marketing Research, +1-541-347-4718, or cnwmr...
- Portland, Oregon Residents Have Least Amount of 'Car Smarts'; Detroit Heads the...
- Press release article from: PR Newswire December 3, 2001 700+ words
...would you like to sell cars and trucks? Stay away...Oregon. In a study of car-shopper savvy in 15...spectrum, Portland new-car shoppers receive the smallest...Portland do better," says Art Spinella, vice president and general...high dealer profits." Car Smarts Index Detroit...
- Chrome Data Named Most Accurate Data Provider for Automotive E-Commerce.
- Press release article from: Business Wire March 27, 2000 700+ words
...software for selling cars online, announced...research performed by Art Spinella of CNW Marketing...tools that enable car dealers and Internet...the average new car price. "This...information," said Art Spinella, vice president...together an imaginary car that ...
- Marketing panel: Next big sell will be by cell; 180 million screens spell...
- Magazine article from: Automotive News Bowens, Greg January 23, 2006 700+ words
...their brand. "Incentive spending is destructive,'' said Art Spinella, president of CNW Marketing Research Inc. Despite advances...at the customers who are walking out the back.'' * * * Art Spinella Title: Vice president of marketing Company: CNW Marketing...
