Sunset Ford Dealer Blog

Earlier this week, we posted a blog about a small black box that some car dealers are installing in vehicles. When a person doesn’t make timely payments, the black box disables the car until the owner finally pays the overdue installments..  And stories like these are the reason why.

A recent article in southern California’s The Press-Enterprise states that vehicle repossession has increased in recent months and years. The article blames the housing market and a failing economy. One expert said the number of repos has increased 15 percent over last year’s rate.

And that number continues to grow as more people are having trouble making payments on everything else as well. “There are cases where people say the lesser of the two evils is [to default on] the car,” stated Tom Kontos, VP of Adesa Analytical Services.

But there are several other factors that are causing more repossessions lately. Some analysts blame loan terms for the problem. As people buy new or used cars before paying off their current ones, their payments undoubtedly increase. At times, this can be a huge increase, too. More than one-quarter of all vehicles people are trading for upgrades are negative equity vehicles, meaning the owners owe more on them than what they’re worth.

As dealers lose an average of $7,000 every time they repossess a car, they don’t like to do it. But it’s a last resort that’s necessary to salvage any profit that they can still get from a quality car.

Think about this story when you’re considering buying a certified Ford. Don’t take on payments that you can’t afford and “hope for the best.” Find a car you can afford and make timely payments. It’s the right thing to do.

Here is our last installment on how to insure your certified Ford without paying more than necessary.  Employ some of these techniques and you could save hundreds (or maybe even thousands) on your auto insurance each year.

1. Don’t go back and forth.  Tell agents up front that you’re only getting three insurance quotes and you’re going with the least expensive one. If they know you’ll go back and forth, they might tell you to come back if somebody gives you a better quote. That means they’re not giving you their best prices. Make them commit to their absolute lowest prices instead of falling for this trick.

2. Don’t glance at your policy.  It’s very important to understand you policy and the coverage you have before signing anything. Does it include everything you asked for or is it lacking some essential coverage? If you’re not sure, ask the agent. If he or she doesn’t want to take the time to explain it, consider another company.

These tips aren’t intended to imply that insurance agents are shysters or con artists. But insurance is a business, and agents typically work on a commission. If you’re polite and up-front, you can cut through the act and arrive at a price that’s fair for both. You might even get one of the good ones who is dedicated to helping you get the most enjoyment at a price you can afford.

If you have a quality certified Ford, you might not know that you can add many aftermarket accessories to it. By doing so, you can get a lot more enjoyment out of your vehicle for years to come. If your used vehicle doesn’t come with a factory-installed GPS, you can get one installed. In fact, many car owners prefer an aftermarket GPS for several reasons, including:

• An aftermarket GPS is typically less expensive than a factory-installed unit. Manufacturers often increase the price because it seems like such a small expense compared to the overall price of the vehicle.

• Aftermarket units have more feature options.  You can find ones that offer live traffic reports, weather reports, satellite radio, MP3 player integration and several other features.

• You can transfer add-ons to other vehicles. This comes in handy if you often rent vehicles or if you want to lend your GPS unit to somebody.

• Mapping updates are generally less expensive for aftermarket units than they are for factory-installed units.

• Aftermarket units are typically more intuitive because they reflect the latest technology.

Of course, there are some drawbacks to an aftermarket unit, but luckily the disadvantages are fewer than the advantages.  These factors might make you think twice about getting a GPS unit installed after you purchase the vehicle:

• Finding a place to mount the unit might be difficult because it can’t interfere with the airbag deployment.

• An aftermarket unit is easier to steal. You can hide it when you get out of your car, but the mounting bracket shows that you have a GPS unit somewhere in your vehicle.