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Step 9 of 10 Steps to Buying a New Car : - Reviewing and signing the paperwork.

Tue, 20 Aug 2008 08:53:00 GMT

posted by maftukhin
By Philip Reed, Senior Consumer Advice Editor

At the dealership, you will be presented with the contract for your new car and a dizzying array of forms to sign. This might be done by the Internet salesperson you have been dealing with, or it could be done in a separate office by the finance and insurance (F&I;) manager. If this happens, the F&I; manager might try to sell you additional items such as extended service contracts, fabric protection, alarms or a LoJack vehicle locator. In most cases, we recommend turning down these extras — with the possible exception of the extended warranty, which provides peace of mind to some buyers. Additionally, it is worth noting that some states allow up to 60 days after purchase to cancel an extended warranty, but you should check local laws to confirm your options in your area.

To prepare yourself for the kinds of products that might be pushed on you, or inserted into the price without your knowledge, read High-Priced Dealer Add-ons.

If you have already seen a worksheet for the deal you've made, the contract should be a formality. Make sure the numbers match the worksheet and no additional charges or fees have been inserted. You will also be asked to sign various forms that register your new car and transfer ownership of your trade-in. Understand what you are signing and what it means. Ask questions if you don't understand, and don't ever feel like you have to hurry. Buying a car is a serious commitment and it's the F&I; manager's job to ensure you are comfortable with every document involved. Remember, once you have signed there is no going back.
Source: endmunds.com

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SAIC Buys Nanjing Automobile

Wed, 27 Dec 2007 03:14:08 GMT

posted by Editor
By Brendan Moore

12.27.2007

It only seems like it took forever.

Shanghai Automotive Industry Corp (SAIC), corporate parent of Shanghai Motor Corporation in Beijing, has acquired Yuejin Motor Group, parent of Nanjing Automobile (Group) Corp.

The much-anticipated deal allows SAIC to take over all the key assets of Nanjing (which includes MG Rover) for the price of approximately $286 million USD.

The deal not only gives SAIC a great launching pad into Europe via the MG and Rover brands and the factory that produced same in Longbridge, England, it also consolidates part of the second-largest auto market in the world; that is, their home market of China. The same home market, incidentally, that put up a gaudy 35% growth rate in 2006. The takeover of Nanjing Automobile will make SAIC a much more formidable competitor to the foreign companies like GM and VW that currently control the largest market shares in China.

Part of the deal also requires Fiat to divest their 50% of Nanjing by selling it back to Nanjing. The guys at Fiat probably threw a party when they got that news because the joint venture has never met a single production or sales goal since it opened, and Fiat has been unhappy in that marriage for some time now. As an example, Fiat had forecast their sales from the joint venture to hit 300,000 units by 2010, and they just barely made it above 30,000 this year. So, Fiat will hardly be crying all the way to the bank when they cash that check for their 50% of Nanjing.

Fiat says that they will continue to cooperate with Nanjing on commercial vehicles and parts manufacture, but I think that statement is probably just window-dressing on the divorce so that both companies can save face concerning the break-up.

As a result of the acquisition, SAIC should reach capacity of around 2 million vehicles annually under their own brand in the next two years.

China's annual economic growth has averaged 9 percent annually over the past 10 years, which has produced a tremendous amount of middle-class and upper-class car buyers new to the market. The country overtook Japan late last year as the world's second-largest vehicle market after the United States.

Vehicle sales in China will pass eight million this year, and easily surpassed the full-year tally for 2006 in the first 11 months of 2007, according to the China Association of Automobile Manufacturers. There has been some discounting recently as manufacturers try to gain market share, but the overall new car market in China is expected to stay strong for years to come.

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Could MG Ever Become Great Again?

Sun, 4 Aug 2008 21:59:00 GMT

posted by Editor
By Andy Bannister 08.04.2008 In a move which almost no-one believed would ever happen, new MG roadsters have started trickling down the production line in Longbridge, England, nearly four years after the last British-owned volume car producer went bankrupt. The revival is, of course, entirely due to the MG brand’s new owners, China Nanjing Automobile Corporation, which continues to entertain

An MG May Never Be Built in England Again

Mon, 15 Apr 2008 02:26:04 GMT

posted by Editor
By Brendan Moore 04.15.2008 According to the Birmingham Post, a British daily, the chances of MGs being mass-produced at the Longbridge plant are now almost nil. Nanjing, the owner of MG Rover, has effectively given up on the idea of producing the MG TF sports car, the model it had planned to produce at the former Longbridge plant. Stadco, the specialty auto supplier, has decided to stop

MG,MGB,MGA,MORRIS GARAGE,BRITISH,CLASSIC,SPORTS,CAR,ART

Sun, 14 Jul 2008 15:14:53 GMT

posted by travelsanmiguel

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