Thursday, March 27, 2014

Buying vs. Leasing

The Advantages and Disadvantages of Buying and Leasing. 

Making the final decision on a car can seem like a daunting task. Everyone wants a good, fair, affordable deal that won't take a dent out of their wallet.  There are myths about leasing and buying that exist in this market and we hope to clarify some of these misconceptions.

Just about everyone has heard bad stories and nightmares for leasing; such as turning the car in only to be strangled with fee's and mileage overages or body damage.  Many of time this is because the lease agreement may not have been pronounced clearly to the consumer or in all reality, the car was neglected.  Leasing can be a very pleasant experience.

Pros to Leasing

Lower Monthly Payments.  - You are only responsible for paying for what you use on the car.  Why pay $300-400 a month for a purchased vehicle when you could be paying $200 based on how much you drive?

Lower Down Payments.  - Some leases start at only a $1,000 down and may even be as low as $189 a month.

Newer, Better, Nicer Car for Less - Keep in mind, you are basically "renting" the vehicle for an extended period of time and you only pay on what is used.  Think of it this way, the average car buyer only holds on to their car for four years and then trades it in.  Every 2 years, Miles Per Gallon increases and in car technology gets better and better.  You are getting a newer, more efficient vehicle for close to the same price every two years.

No-Cost Repairs - Most leases average 2-3 years, and remain under warranty for the full duration of the lease. This leaves the owner worry free from heavy costs and repairs. No one likes to have an auto payment and a repair bill.

No Trade-in Hassles - Once the lease is up, every leasee has the privilege to simply hand over the keys.  It's that easy, like returning a car to the rental agency.  As long as the car is in good condition, treated well and taken care of, (which doesn't take much for a lease) you will be okay.

No Cost Maintenance -  Most car companies now through in a no cost maintenance package that covers oil changes, tire rotations, and free carwashes.  This can be negotiated out of the deal but it won't save the buyer much cash.  Companies know they will have to resell the vehicle when you trade it in, this is there way of making sure all maintenance is up to date when the lease is up.

Cons to Leasing

You don't own the car - If you drive a lot, and far then leasing is not for you. If you keep your car for 5+ years then leasing is not for you. As you will have too many miles on the vehicle to make it worth leasing. However, we must keep in mind that nobody owns their car until the bank hands over the title. 1 out of 10 car buyers will even see their title before their next trade in. 

Mileage is Limited - Most leases range from 10-15,000 miles per year. Think of it like a cell phone data plan, stay within your data allowance and you will not be hit with overages, if you are terrified of going over then opt out and go for the more costly, unlimited plan.  (Purchase)

Watch your Wear and Tear - If your car is riddled with dents, dings and scratches then you could be hit with a big fat bill for repairs.  Same applies to interiors, if you smoke or simply have children who reek havoc on your upholstery then leasing may not be for you. Interiors are costly to clean.

Don't even think about Terminating - If something happens or comes up, and you need out of your lease it can be costly.  Keep in mind you are only paying for a portion of the vehicle and you will owe much more than the car is worth.  The same thing can happen with car buying, but it is much more likely with a lease. 
  • You will still have the option to privately sell or trade in your lease, depending on the vehicle's value and equity. 

 It's high school economics all over again, do you consider long or short term purchases or lease for your vehicles.  If you keep your car until it barely runs, then leasing is definitely not for you. If you only like to hold onto your car for a couple years, then leasing could be a great option for you.

When leasing, be sure to understand the car's residual value, money factor and term of your lease.

When buying,  be sure to understand your interest rate, final cost, and trade.

Does this mean leasing is better?  Not necessarily. Payments are not the only factor that should influence your decision.

Find out more on Car Buying Myths and Misconceptions here.

Wednesday, March 26, 2014

New EVO X Returns with Vengeance

Mitsubishi Evo X Returns with 440bhp for 40th Anniversary

Move over Subaru, Top Gear just released news about Mitsubishi's new Lancer Evolution X returning for Mitsubishi's 40th anniversary.

More power than the old.  Specs.

This model will run as a Special Edition FQ-440MR with a re-mapped ECU, Tubular Janspeed Exhaust Manifold, HKS turbo, Bigger intercooler 2.0-litre at 440bhp and 412lb ft torque.  This will not have a manual gearbox, as it powers all four wheels through a six-speed dual clutch automatic.

The suspension will be lowered, brakes will sport a 6-piston caliper set up along with 18" BBS wheels.

Inside the new EVO one will sit in Recaro bucket seats while listening to an 8 speaker audio system and Nav screen.  Bluetooth will be featured as well.

New tech with all FQ-440 MR's will have a data recorder that will logs driving style, performance, location and diagnostics.   The only catch now is Mitsubishi will void your warranty for going hard and WOT.

No news about when/if we will see this new monster in the states, but then again hold onto your wallet because this MR will run up more than $50,000.   

For that cost, might as we go for it's leading competitor. The new WRX STI.

Tuesday, March 25, 2014

What If Crash Test Dummies Had Feelings?

CRUSH: CrashTest Dummies Come to Life

News Source: Autoblog, Jalopnik, Malek Rizkallah

Monday, March 24, 2014

Factory Five's WRX 818 Kit Car

The 818 S & R │ Factory Five Racing

Factory Five Racing has released a new kit car for the Subaru WRX  set up.  The kit is based off of the 2002-2007 WRX engine set up and starts at $9,990 for its street edition and $10,990 for a more track oriented set up and design. All you need is a donor WRX or impreza to make something that the BRZ never was...  A full fledged mid-engine sport car for 15 G's.  See Video Below.

The body is a gel-coated fiberglass and is 818 Kilo's (1,800 lbs),  with a list of options for upgrades from brakes to suspension and carbon fiber. The kit comes with everything but the WRX Engine and Trans.

Factory Five Lists what you get.
• Frame:
Conventional Factory Five tubular steel space-frame chassis with integrated roll hoop, side-impact protection, crumple zones front and rear, and aluminum chassis panels

• Body:
Complete composite body with the following gel-coat or paint-free composite panels: lower front nose, right and left front quarter panels, hood, right and left doors and door liners, side and rear lower quarter panels, tail section, upper trunk hatch
• Aluminum and Composite Chassis Panels:
Pre-fit inner panels that form the cockpit, floors, rear bulk head, engine bay, and splash guards
• Front Suspension and Steering:
Front upper control arms, spindle adapter brackets, KONI brand coil over shock assembly, fasteners, brake bias adjuster, and brake line adapters. Steering rack mounts and fasteners to use Subaru steering rack and column.
• Rear Suspension:
Multi-link rear suspension includes rear lower control arms, fasteners, adapter brackets, and KONI brand coil over shock kit. Frame mounts enable use of Subaru links and transmission.
• Fuel System
Fuel tank with adapter kit (requires Subaru fuel pump, lines, and fittings).
• Cooling System
Cooling system adapter kit with radiator hose extensions and fasteners to utilize the Subaru radiator.
• Exterior Trim, Lighting, and Glass:
Kit includes headlights with integral turn signals and running lights, tail lights and license plate light, windshield, and badges.
• Interior Trim:
The 818 is designed to use Subaru interior components such as gauge pod and seating. Kit includes carpeting, upholstered interior door panels, seat adapter brackets, formed dash, center console, shifter assembly, and e-brake adapter

• Assembly Manual:
Bound assembly manual will be available in hard copy and in download PDF format.

Thursday, March 20, 2014

2015 WRX Walk Around

A Walk Around of the 2015 WRX 

We got a sneak peek of the new 2015 WRX that is set to start hitting dealerships by late April-Early May.  You really have to see this car in person to give it justice.

It's much more attractive in person, in fact the more we see it the more we like, seeing that we weren't the biggest fans of it's styling when it first came our.  Even the Evo-isc front end looks much better and aggressive in person.

The Front LED's look much better, and the dual fog-lights don't look half bad either. The wheel color is workable and fit's the body well. We do wish they were a little more edgy though, they look super similar to the 2013 Subaru Legacy wheels if they were painted charcoal/black.

Our favorite color so far has been the World Rally Blue Pearl, something about the blue makes the new wider body stick out. The curves look more aggressive on the side and we can't help but wonder how great the car would look with rolled fenders for an even wider look!

The taillights are simple, but clean. The 'badging' remains the same, not too much or too little. We might like to see it badge-less ourselves.

We are not fans of the new rear diffuser, it looks like it came from the Subaru Crosstrek and it almost appears to have a covered up insert for a, uh' trailer hitch?   The exhaust looks the same as to prior years and will look great when tuners start applying their own personalities to it. Cobb, Invidia, Rallysport, were getting excited.

The door panels are similar to previous years' look. the charcoal leather (or cloth depending on trim) mixed with the red stitching. nothing special, but we like the simplicity.

The interior has been updated, the steering wheel has been given a sporty edge to it and the displays have been revamped to match newer model tech.  Including steering wheel access to cruise control, radio/volume/bluetooth integration. 

The trim isn't really a carbon fiber, more of a plastic blend of something. It's not bad on the eye and still feels sporty.  It is still an upgrade from the previous years'.

The seats aren't Recaro's but, they are comfortable. The new WRX feels like something you would be able to sit in for longer than 45 minutes without the need to crack your back.

The WRX now comes with a CVT or a 6-speed manual gearbox. A step up from it's 5-speed gearbox and the CVT does not feel like an automatic at all.  The CVT is ACTUALLY showing faster numbers after it has grown accustomed to the drivers habits in a sport mode.

This trim, a limited WRX offered Heated seats, electric seats, Harmon Karmon Stereo and a moon-roof.
The stereo's upgraded from previous years, and is nice and clean, has a decent bass too and doesn't leave you feeling like your driving a base model car with cardboard speakers anymore.

For being a sporty car, the WRX has decent legroom in the back seat, so it's easy to convince the wife that children will have no problem with comfort in the back. Car seats fit just fine.

I was extinguished from the keys at this moment so it's hard to show the in dash displays. the top of the dash offers a digital boost gauge and you can switch from boost-to-MPG's, trip info and more.

The trunk is large and has a ton of space.

We are excited for the new DIT (direct injection) set up Subaru has come out with this year. The Turbo is mounted infront of the motor as well, as it's a new Twin-Scroll technology that works seamless with the exhaust to create the least amount of lag.

A 2015 Sport Package will also be available for all 6-Speed Manual models. 
Side Skirts,
SPT - Exhaust
Wheels &
More ...

Wednesday, March 19, 2014

Porsche Replaces Engine For Every 2014 GT3 Sold

Porsche Wants No Loose Ends. 

Porsche announced that it will be replacing all the engines in it's new 2014 Porsche 911 GT3's.  If you can recall, Porsche had 2 reports from Europe of the new vehicles catching fire or spontaneously combusting...

785 new GT3's have been delivered so far this year. Porsche notified every owner and had them park the vehicle immediately, then each new GT3 was towed to the closest Porsche dealership. 
A UK Porsche representative said the problem was caused by a defect traced to faulty screw used to join piston connecting rods to the crankshaft, causing damage to the crankcase.

 The burned vehicles were dissected and examined to find these results. Porsche's CEO Matthias Mueller announced that Porsche would not be taking any risks when it comes to the safety of it's customers. This is a great call from Porsche as they wouldn't want to end up like General Motors or Toyota. Especially when it comes to a $190,000.00 car.  We talked on the Utah Car Cents radio show last Saturday and discussed that Porsche made massive gains last year, averaging a gross of $23,000 for each car sold.  At least they have the money to recall these motors.
-Business Insider-