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PowerSports Adventures

 
 
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Can You Sell Your Car Even Though You Don’t Yet Own It?

You’ve just bought a car, and you’ve decided to make payments on it. It’s been going along pretty well so far, but after a few years you’re tired of it. It’s the same dull acceleration, the same mindless automatic transmission, the same blind spot, etc. You’ve decided you need to sell it.

If you have a car that you are still making payments on but want to sell it, you can. It’s not impossible. Simply trade it back to the dealership you got it from. If the car is worth more than what you owe, the dealership will take the car and pay off the rest of your loan, and then you’re free to get whatever car you want next.

You’ll have better luck trying to sell your car to a dealer that specializes in selling the same car that you own. In other words, you’ll have an easier time selling your Toyota car at a Toyota dealership. If you decide to go this route, you can negotiate with a dealership for how much money they’ll give you for your car. You can call several dealerships and get their best offers, and come back through your list to your first dealer and pitch them your highest offer, and go from there.

Otherwise if your car is over water, that is, the car is worth more than what you owe, dealerships will help you by paying off your loan. In other words, you trade in your car, and instead of paying you the money the dealership will simply pay off the lienholder, or, the entity that owns the car. From here you can get a new loan for a new car. To get a good deal, check out your car’s trade-in value at Carmax. Compare this to a dealership’s offer, and if possible try to find the car you want at a different dealership for less money. Show this to a different dealer, and they may try and negotiate.

You can sell a lien car privately as well. The new owner will simply take over the payments from the lienholder. If the new owner already has a loan, that would be even better because then the lienholder can just transfer the car directly to the new owner’s lender, but it’s not necessary. Another thing that would make the process easier is if you’re in close proximity to your lender, so you can go in and make the process go faster.

If your car is underwater, that means you owe more than its worth. In order to get out of that, it’s best to keep the car until you can pay it off. If you’d rather trade it in for a different car, the loan that you still owe on the old car will transfer to the new car, and then you’ll be paying more for the new car in the long run. In other words, you’ll be paying off two loans at once, instead of just one had you decided to keep the car.

To find out if you’re underwater on your car loan, first calculate how much it’s worth. After you do that, subtract what you owe from what it’s worth. If it comes out that you owe more than the car is worth, you are underwater. This is an especially dangerous situation financially. As stated, it’s best to keep the car and pay it off. If you really need to get a new car, then be prepared to pay more than the car is worth. The difference you come to when you find out if you’re underwater will be added to the new car loan.

Dealerships will try to coerce you into getting cars all the time. What they will sometimes do is extend the payment plan, from for example 36 months to 48 months. This makes the monthly premiums a smaller amount, which sounds good at first but what dealerships count on is buyers not seeing the big picture. All they see are the monthly payments, and not the fact that dealerships sometimes end up adding more money to the price of the car, and therefore you’ll end up paying even more for the car than you originally intended, including interest.

You don’t technically own the car until you’ve paid it off, so there aren’t really any other options without having to pay it off first. That’s why in the long term it’s much better to pay off the car first, before selling it. Leasing is a different option as well, but that’s more for people who switch cars every few years and have commitment issues.

In any case, if you’re underwater and want to sell your car or if you simply have payments left and want to get something new, don’t panic you have options. There are ways to negotiate with every price you come across, but at some point after trading in several cars you might want to consider leasing, or taking the bus.

 
 
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Other Players In The Dieselgate Scandal Are Surfacing

 

Since Dieselgate other car manufacturers besides VW have gone under investigation, after being suspected of implementing similar cheating devices in their diesel powered cars. Some of those manufacturers have claimed to be totally compliant with regulations, including Toyota, GM, Peugeot, Renault, Mazda, Mercedes and Honda. Of those only Honda and Toyota are not under investigation.

Other manufacturers being looked at include Porsche, Chrysler, Land Rover, Volvo, Jeep, Hyundai, Citroen and Ford. The BMW X5 is also being looked at, as well as Audi A8 and A7 models. Porsche, Audi and VW all use Bosch software and when investigations were conducted it was found that all three manufacturers had similarly acting software that could detect the vehicle’s current usage, whether it be testing or on the road. Bosch has since been hit with a settlement of around $357 million. Another $1.2 billion has been set aside from VW to repair Audis and Porsches that were also implemented in the settlement.

In Europe Volvo’s S60, Renault Espace and Jeep Renegade all produced emissions levels well above what’s allowed by more than 10 times. The Nissan X-Trail exceeded 14 times more emissions allowed. According to VW, more than 11 million vehicles are affected worldwide. This information is not necessarily unknown. Clearly though this means the diesel world is getting (or has already gotten) out of hand, and will surely up the game for internal combustion powered cars across the board.

Elon Musk reacted by saying that VW cheating was a sign that diesel and petrol engines have come as far as they will go, and that now the industry needs to look toward other means of power. As of March 29 of this year, Daimler (Mercedes) has not been found to have cheated with its diesel vehicles, according to its chief executive Dieter Zetsche. He also ensures that Daimler (Mercedes) is being fully cooperative with the authorities and that they are ready to implement more rigorous testing.

Software that detects if whether the car is on a dyno tester or on the road was found in the Porsche Cayenne diesel, which was declared as an illegal defeat device. This is now being called Dieselgate 2. Part of that Bosch settlement covers the Porsche cheating diesel car as well. As of February 1, 2017 Porsche has agreed to repair the Cayenne Diesel for free, as well as provide restitution to owners and lessees of the SUV.

It’s believed that VW’s main motivation for participating in this scandal was to show they could still compete in the industry with their vehicles. If they couldn’t pass the emissions tests while keeping their cars efficient, then they wouldn’t be a real contender anymore. The fact that they had to cheat in order to pass the tests shows a few things though. Either Elon Musk is right in that internal combustion has run its course and that electric cars are best implemented sooner rather than later, or VW is simply struggling too hard to make a diesel powered car that’s still efficient.

Since the dieselgate eruption VW has bought back 500,000 vehicles in the US alone, and has agreed to fix them before selling them again. The other option is to just scrap them all, but that seems like quite a waste of money, especially when the fix is simple and cheap. However those cars aren’t getting any younger, sitting at an abandoned football stadium in Michigan, a decommissioned air force base in California and the port of Baltimore.

Emissions equipment on vehicles takes a rather large toll on performance, for any vehicle let alone diesels which are already down on power as they are designed. It’s possible that the smog laws have become too strict for diesel engines to continue to prosper but that might have been the purpose of the constant restriction on smog law requirements.

Adac, the world’s second-biggest motoring organization has taken a stride in the way of improving its results of emissions testing. They have a new, apparently very strict emissions standard that should in theory take effect sometime later this year. Hopefully other car manufacturers will follow suit and improve their own emissions standards, thereby overbuilding their products. The key is to keep the same efficiency, but it’s going to be difficult.

The future of Diesel is uncertain at this point. What is certain is that Dieselgate was a game changer, and now with all these other manufacturers experiencing higher emissions levels there’s no telling where the industry will make its next move. Unfortunately if it is the end of diesel cars, or the beginning of the end, it’s only a matter of time before gasoline powered vehicles follow suit and have to resort to cheating emissions tests in order to safe performance as well.

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Cars, Bikes, and Adventures

I think it's a shame that we have to wear helmets on a motorcycle. Because I want to feel the wind through my hair when I speed down Highland Valley Road. 

Born and raised in LA.