Archive for June 2nd, 2009

What Needs to be Considered When I Sell My Porsche

It was about 2 months back that I finally made the tough call; I had to sell my Porsche. It’s a lovely car and I’m more attached to my Porsche then anything else, but the credit crunch was hitting my wallet in several ways, and cutbacks in my expenditure were called for. It was not an overnight decision, and despite serious efforts I could do nothing about the monetary mismatch. The only solution was to sell my Porsche, which was my most expensive overhead.

As I picked up the telephone to contact a dealer to sell my Porsche, I changed my mind because I really didn’t want to let her go. So I sat down and relooked at the costs associated with having my Porsche. I was hoping that something had changed overnight. The list began with the borrowing cost. A Porsche is not ‘just another car’ and this special tag comes with a cost. I had taken out a substantial loan to buy her, which amounted to sizeable interest charges every month. The next column was easy to figure out, it was the insurance fee, and it was rather steep as well. The third category in the list was the taxes, followed by the maintenance charges. While half of the maintenance costs were planned and reported in the car owner’s manual, there were also the unexpected maintenance costs, and they could be very expensive. Last but not least was the depreciation cost. As I relooked at the figures they confirmed my decision; I had to sell my Porsche.

The next task was to find the right way to sell my Porsche. I was going to pick up the phone and contact a car dealer, but I decided to research the subject, to ensure I got the best possible deal. It took me a little time, but it was worth it. I started my research by speaking to friends, and then followed it up by looking on the internet. The research results were, to sell my Porsche to a car dealer who specialises in buying prestige cars. I was informed the company will buy the car directly from me, and they make the whole transaction really painless.

Before I sold my Porsche I was advised by my friends to take some simple steps, which could mean a higher return on my car. The overall idea behind the prep work was to convey that my Porsche has really been special to me, and that I’d gone to great pains to ensure my vehicle was in excellent condition. Firstly I cleaned my car, both inside and outside, because it is important to make a good first impression. Cleaning the car also meant I checked every nook and cranny to remove all my personal items. The engine was another section, which would be under scrutiny and chances are, would not be clean. Therefore I made a point to include it in the cleaning exercise. I then ensured all the paperwork for my car was up to date and included all the maintenance records, such as the oil changes were listed, that the MOT was valid, and the Road Tax was in date.

When I was doing my research I learnt some important lessons and I’d like to make a cautionary statement for those contemplating the self-sell process. Neither the websites nor the print advertising associates will offer the greatest help when it comes to selling such a beautiful machine as a Porsche. Whereas, with a company that specialises in buying prestige cars, they know exactly what they are talking about, and will make it pleasure to sell my Porsche to them.

Ruby Stone wrote the Article ‘What Needs to be Considered When I sell My Porsche’ and recommends you visit http://www.iainmutch.co.uk/sell-your-car/porsche.php if you’re saying to yourself “I’m thinking of selling my Porsche 911!

How to Understand Car Loans

Buying a new car can be an exhilarating experience, until you try to get a car loan. There are so many fees, interest choices and time lengths that one can get discouraged and decide not to get a new vehicle all together, but if you spend some time learning the mysteries behind car loans you will find it’s a very easily understood topic. Below are some useful tips to help you understand the ins and outs of car loans.

How much can I borrow?

In most cases, a car loan company will allow you to borrow as much as you need to finance the cost of the car and cover any fees, loan insurance and comprehensive vehicle insurance.

Most vehicle loan institutions mandate a minimum of $10,000 to be borrowed over varying amounts of time. You may or may not be expected to pay a deposit on the loan. Most car loans are available for used or new cars, purchased privately or for a business as long as they are less than seven years old.

Consider Interest

There are two main kinds of interest rates when considering a vehicle loan: fixed interest or variable interest rates.

Fixed interest:

A fixed interest rate means that the rate stays consistent for the duration of the car loan. So if you lock in to a 10% interest rate you’ll know exactly how much money you’ll pay for the life of the loan. If you are on a tight budget then a fixed interest rate would be the right choice for you, as you can rest easy knowing how much you will pay each month.

Variable interest:

A variable interest rate means that the rate can change and fluctuate with the market during the life of the loan. So if you take the loan out at the above 10%, your rate may stay the same, rise or drop many times within the loan’s life.

If interest rates are high to begin with and the rates drop then a variable interest rate will mean lower payments each month, resulting in a tidy savings. However, if the market tanks and interest rates rise, you could be looking at paying much, much more a month than you anticipated.

Secured vs. Unsecured

There are two main types of car loans you can apply for: secured or unsecured. Each have definite advantages and disadvantages, so make sure you read the details carefully so you know what you’re getting into.

Secured loan:

These are car loans that take something into consideration as collateral against your loan debt in the event that you default on your payments. In this case, your car will be used as collateral.

If you don’t pay your loan the company has the right to repossess your car and sell it to regain the money you borrowed. The advantage for you is that a secured loan is often offered at a lower interest rate because the risk of the bank or institution not getting their money is lower than when they lend money in an unsecured loan.

Unsecured loan:

An unsecured car loan is one that doesn’t use the car as collateral. This type of loan is offered at a higher interest rate but if you default on the loan the company can’t repossess your car. If you’re buying an older car you may need to obtain an unsecured loan, since the car value may not be enough to serve as collateral.

Loan Insurance

If you’re unsure of what your employment status will be two years down the road, or if you know you’ll need surgery in the next year then loan insurance might be a good option to look into. Some car loan lenders will offer a discount on your interest rate if you procure loan insurance. Loan insurance protects you if you’re disabled, or lose your employment.

Consider time into the equation

Your car loan will have different options on the length of time to pay the loan back. Typically varying from 12 months to 5 years (some companies offer six years or longer), the amount of time you choose to pay your loan back is important in many ways.

The longer you take to pay back your car loan the more interest you will pay over the life of the loan. Longer amounts of time usually result in a lower monthly payment, but an overall higher interest rate. If you go for a monthly payment you will have larger payments, but you’ll end up paying less interest.

So ‘No’ to Fees

Banks and loan institutions don’t make money on just the interest rate of your car loan these days. They add in some other fees to make sure you keep paying and paying, even if you want to pay the loan early. When you’re in need of a car loan ensure that you investigate the following fees and look for a loan that will give you as low a fee as possible.

Application fees:

Some banks and car loan companies will charge an application fee. This covers the work done researching your information and processing your loan. If you can, find a loan with a low or even better, no application fee.

Service fees:

Some banks will charge you a small, monthly fee for the length of your loan. Although an extra $3 a month or more may not seem like much, it can certainly add up over the years. For example, paying a $3 a month service fee on your car loan for a period of 7 years adds up to an additional $252 in fees.

Cash vs. electronic payment:

Some banks encourage electronic payment of car loans by issuing a fee if you choose to get a cash payment booklet instead. In this case, it might be in your best interest to waive the $100 or so fee and go electronic.

Early payment fees:

Paying your loan off early may seem like an attractive idea at first until you read the fine print and learn that you’ll probably pay a fee for doing just that. Banks and loan companies don’t want to lose money on the interest you pay them every month, and if you pay early that’s exactly what will happen. To ensure they get a piece of their share they institute a fee for paying your car loan off early.

In Conclusion

Now that you know the differences in interest rates and what fees you might be charged if you’re not paying attention, along with lots of other handy tips, you can rest easy when applying for that car loan. You will get out of the car loan office and behind the driver’s wheel that much quicker.

Now you know about car loans–now you’re ready to start searching for one! Whenever you’re in Australia and need a car loan, look at Start Local first. Start Local is Australia’s premier local search engine and business directory. Get your best car loan at => http://www.startlocal.com.au/finance/carloans/

The Legend That Is Ferrari

Most of us will never own a Ferrari, the boyhood dreams of driving a car with a prancing horse on the front will unfortunately for many, be dashed in adulthood. The closest the majority of us will ever get will be to own a piece of Ferrari merchandise. Slightly more affordable than the big red machines it offers the chance to at least own something with the famous logo emblazoned upon it.


For the drivers of the Ferrari racing team, wearing team merchandise comes as part and parcel of the job. Unlike the fans however, Ferrari drivers can afford to buy the road cars that represent the pinnacle of transport technology. This weekend sees the release of the Ferrari car for the 2008 season, the Tifosi, the name given to the army of fans that follow Scuderia Ferrari worldwide will be eagerly awaiting this event, and will undoubtedly be rushing to the team shop to buy the new season’s merchandise range.


With such a racing pedigree it is little wonder that Ferrari road cars are so popular amongst the rich and famous. The latest offering; the 430 Scuderia Berlinetta is a sumptuous example of the Ferrari methodology. Based upon the F430 it is a tweaked and stripped supercar; it will be made in a small number and was unveiled with the usual heraldry and accompanying merchandise. Styled in an elegant, timeless manner, it offers those who can afford it the latest technology engineered by the Ferrari racing team.


A number of years ago saw the release of Ferrari Enzo; described as the best driving experience ever created for the road user, it was designed with a great deal of input from Michael Schumacher. A legendary racer with an astute sense of handling and performance his help in the developmental stages of design are said to have born a car that is as close to a Formula 1 car possible, and still road legal.


Unfortunately this model was created in such a small number that only the world’s elite will ever have the joy of driving the awesome machine. Luckily the merchandise range includes a scale model of the car, so at least lowly motor enthusiasts can investigate the car at close quarters.


Ferrari cars have long since been seen in reverence by the world’s motoring fraternity. They combine classic Italian styling with uncompromising performance; the ethos of the company has been the same since Enzo started the road car company purely to fund his racing team Scuderia. Performance is always paramount in the Ferrari design workshop, every unit that rolls off the production line stands testament to the racing pedigree and the Italian fixation for looking good at a cost.


Ferrari as a global brand has also grown considerably since the early nineties. As well as the merchandise directly related to the race team, a bright spark in the marketing department saw the potential of the prancing horse as a worldwide icon. The merchandise range now includes toiletries, teddy bears and binoculars; seemingly there is a desire for anything with the company logo adorned upon it.


This has to be because Ferrari cars are always seen as the best of the best. People young and old stop and stare when a Ferrari drives past, the noise of the engine, the drop dead gorgeous looks and the striking red colouration combine to make jaws drop all over the globe.


This is why there are so many willing to buy the merchandise; the prancing horse is synonymous with style and speed. These are brand characteristics that cannot be bought, it is only through decades of racing success and the production of the finest cars that Ferrari has created one of the most recognisable symbols on the planet; not only in motor sport but in all fields of life.

Motoring expert Shaun Parker is an avid sports car enthusiast and has purchased many items in the Ferrari merchandise range. To find out more please visit http://www.official-merchandise.com/