When it comes to cars, Americans in particular practice extreme brand loyalty. Those who are financially successful often want a car befitting their success; a brand that reflects their appreciation for the finer things in life. When it comes to luxury cars such as this, nothing comes close to the BMW Car.

The BMW car had its beginnings in Munich, Germany in the year 1913. The Bavarian Motors Works company (BMW) was the brainchild of Karl Friedrich Rapp who wanted to build a solid, luxury vehicle that was unsurpassed in performance. As each year passed, the BMW experienced a bevy of design changes; but the principles fundamental to the company’s reputation remained the same –superlative craftsmanship and high quality materials.

Thought of in the same class as such fine vehicles as Mercedes Benz, Porsche, and Jaguar, the BMW car speaks volumes about luxury, elegance, and comfort. It’s no wonder that its place in the industry has lasted nearly 95 years. The modern BMW car continues to project the same high-quality image and, even today, nearly a century after its inception, BMW continues to be the pinnacle of car ownership for many people.

But the BMW car is not exclusive to those with limitless budgets; with a number of designs on the market at varying prices, owning a BMW car is well within the realm of possibility for many buyers.

Today’s BMW car offers a full line of vehicles that vary in features and price – everything from the compact I series and the classic 3 series, to the luxurious 5, 6, and 7 series. The modern BMW design has even been incorporated into an SUV model – bringing convenience and comfort along with the luxury and elegance BMW customers have comes to expect.

There are some things that never go out of style. The BMW car has a classic quality that transcends time; chances are that even far off in the future the BMW car will still be one of the most desired vehicles on the road.

Whether to buy a new car or buy a used car is often times the first decision that needs to be arrived at before you can actively begin perusing purchasing your next vehicle.

Let’s take a look at some tips, pros, and cons when it comes to making this decision.

First of all, having been in the automotive business for many years, I almost always lean toward finding a good used car that fits what I am looking for. For me, I believe that used cars offer the best value for your dollar. In most cases, you’ll find used car departments are much more used to and willing to negotiate the price that they have posted on the car. From a negotiating standpoint, most used cars won’t have all of those superfluous dealer ‘add-ons’ stuck on the window either that will just never do.

In the automotive market, used cars will most certainly come with a lower initial price tag than a comparably equipped new car. And not only will the price be lower, you may also find that so is your cost to insure the used car as well as the tags, and taxes. Depreciation being what it is; means that with a car a couple of years old, the biggest depreciation hit has already occurred. And from a tangible perspective, you may have a better chance of getting those upgrades you’d like to have on the used car that you couldn’t otherwise afford going with the new.

Yet, with all of this, buying a used car isn’t for everyone. Finding a used vehicle that fits one’s entire car buying criteria can be a tough exercise in balancing what you want with the value versus risk inherent when it comes to used cars.

Not so many years ago, reliability was a major concern when purchasing a used car… and rightfully so. Today however, reliability problems are a fraction of what they used to be. Today’s vehicles, when properly maintained will easily go for 100,000 miles and it’s not uncommon for vehicles to be motoring along as they approach 200,000 miles or more. And with all of the information now available online, the risk factor is again reduced even a bit more.

Even though more reliable today, buying a used car for people means buying a car that is probably out of its original bumper to bumper warranty. This alone, is enough to repel many potential car buyers back to the new car side of the dealership.

As you know, if you are looking at buying a used car, you are probably looking at a car that is outside the factory warranty or at least would have very little remaining. With no warranty you’ll be on the hook to pay for any needed repairs out of your own pocket. However, the biggest expense for most all cars today are the things that aren’t covered by any manufacturer’s warranty anyway; items such as brakes, tires, alignment, batteries, etc.

Of course nobody can guarantee that you won’t encounter a lemon. No matter what the make and model, no manufacturer can produce a vehicle that can withstand years of neglect and/or abuse. Always, always, always give the used car a thorough inspection both by yourself and a qualified mechanic; doing this will catch most problems that may be looming on the horizon.

When it comes to financing the purchase of a used car, you find that the going interest rates will typically be higher than new car rates. This is definitely a piece of the puzzle you’ll want to check out. There is no rule of thumb as to what the difference in the interest rate will be between the two because there are just too many determining variables involved such as; the economy, rebates and incentives involved on the new car side, your credit, length of financing, and even the type of used car you’re looking at. Be sure to crunch the numbers for both sides.

With used cars, insurance can save you some money as well because you’ll typically pay less for your insurance on a like model from a few years past. The reason is simple; less cost of replacement for the insurance company and used cars are generally not high on the stolen lists.

And finally, (the latest) safety features could be a concern if you’re looking at used car (particularly if you’re going back a few model years).

All in all, if the touch, feel, and smell of a new car, isn’t a top priority for you, I think you’ll find that a well thought out used car purchase you can get more car and features and still be within your budget.

Before you even set one foot onto a car dealership check and know what shape your credit is in. Even if you know it is in good shape… here’s a flash for you – credit reporting companies make mistakes… and many of them. So, be smart… begin your car buying process the correct way… know your credit score.

You should begin the process of self evaluating your credit well in advance of doing your car shopping.

Why? Because if you find incorrect information or reporting on your credit report it will take some time in order to get it corrected or removed… and if you don’t you may pay for the mis-information quite handily in the form of paying a higher interest rate than you would otherwise have to.

For instance if you were to finance $20,000 for 5 years at 0% interest rate (obviously you’d pay no interest) your monthly payment would be $333.33. If however, because of credit issues (either correctly reported or not) you signed up at 7.9% your payments would be $71.00 dollars per month more for a painful $4,274.28 more in interest payments alone.

And just to pile on a bit more… this means that your loan payoff will always be higher so if you get the urge to trade cars two, three, or four years into your loan… you’re going to be much further upside down!

There are three credit reporting agencies – Equifax – Experian – Trans Union – and it’s best to get a report from all three. Also, if you are married you’ll want to get your spouse’s as well.

First check to determine what your FICO score is. FICO scores can range from about 300-900 with the higher the number being the stronger credit score. Lenders have differing criteria in how they evaluate and grade FICO scores so the break lines between poor – average – good – excellent can vary somewhat but generally the best auto financing rates are granted to those with a score of 700 or better.

Basically your credit score is based on five determinants: payment history – unpaid debt – how long you’ve had established credit – how much credit you’ve acquired or applied for lately – the types of credit you’re carrying.

The Federal Trade Commission (FTC) has a good website for understanding what your rights are under The Fair Credit Reporting Act.

Work to update outdated information that may be a part of your credit report and by all means begin the process of correcting any mis-information or incorrect payment history. Once you have corrected the mistake, be sure to check your credit report again in about 60 days to see how much of your credit report has changed and if your score has improved.

Working to get your credit report in order may take some time and diligence, but it’s like paying yourself. Remember, the difference of a not so many point swing in your credit score can get you that 7.9 interest rate instead of that 0% interest rate.

It’s your money… don’t waste what you can control.

Dealing with automotive salespeople is probably the most painful part of the car buying process for just about everyone. But, alas, it is this part of the car buying puzzle that is all but inevitable.

Spending a few hours (and especially a large part of your day) conversing and dealing with a car salesperson can be a daunting task. No one likes to do this.

Probably more specifically, it is not specifically the salesperson; it’s the negotiating process that people despise. And at car dealerships negotiating, or the need to do so in order to get your best deal, is going to greet you at every turn – your trade (if applicable) – the car you are purchasing – and the financing options.

Throughout history the car buying experience has developed into an adversarial relationship between the potential car buyer and the dealership. Both sides have developed a mutual distrust for one another.

For you the buyer it’s important that you stay calm and focused the goal of getting your best deal.

The most important element for you to understand these days is that knowledge is power when it comes to negotiating car deals. What used to be ‘insider’ knowledge within the car business has now pretty much become an open book due to the readily available and wide spread information about the process and costs that are involved.

In order to get the negotiating process off on the right foot, you can get the salesperson excited about working with you by being reasonable with your requests and offers. If you come on too strong (thinking you have too as a form of defense) with unreasonable expectations, you’ll not garner the salesperson’s interest in negotiating anything with you. Remember, negotiating is creating a win-win scenario – not one in which I win – you lose.

Selling and negotiating are two different animals. Selling is all about establishing the needs and presenting a product that fits those needs at a particular price. Negotiating is establishing that price and terms at which the goods will exchange hands.

Negotiating is a time consuming process and this is where many car buyers either don’t take the time or give in after a certain amount of time. Also, when negotiating it also takes time to find someone willing to negotiate and work to put a good deal together. If you find that the salesperson or dealer doesn’t seem to want to negotiate in good faith, then move on; there are plenty who will.

Do your research and plan for spending some time if you want to insure that you get your best possible deal on a car. Shorting yourself in either area will make it not only more difficult to get the best deal but it will server to raise your frustration level throughout the car buying process as well.

Is it possible to own a new car, even if you don’t have $20,000 to spend? Absolutely. Auto loans make car ownership an affordable reality, and virtually anyone can arrange for financing. If you have sufficient income and a good credit rating, you will be able to choose from a selection of auto loans.

Step 1 Choose your wheels before arranging your loan. The bank or finance company will want to know what you’re buying, and how much you’ll need to borrow. Shop around by checking automotive websites and visiting local car dealers. Once you know exactly what you want to buy, you can negotiate a price with the seller. With price in hand, you’ll find it easier and faster to secure your financing.

Step 2 Shop around for the best interest rates. There are online websites like http://www.Bankrate.com that publish surveys and polls of loan rates across the United States. The rates of auto loans will fluctuate with the market, and they definitely differ from lender to lender. Shop around to find the lowest rate and best lending terms. Checking with local banks, credit unions and even car dealers can save you money.

Step 3 Purchasing a new car is a costly, and sometimes risky business.

Auto loans involve a lot of money, and you need to prevent any possibility of getting ripped off. Check with used car values to see how much your current vehicle is worth. Knowing your car’s value will help you to get the most money for your trade-in.

Consult a black book or research online to find the current market value of your vehicle.

Step 4 Determine how much you’re able to spend as your down payment. Providing cash up front can help you to secure an auto loan, as it proves to the lender that you’re responsible and willing to repay. It also decreases the amount of principle and interest you’ll pay throughout the term of your loan. Some lenders require a down payment of twenty percent of the vehicle price. Remember that the value of your current vehicle may be applied toward your down payment.

Step 5 Once you know the type of car you’re buying, the purchase price, the available rates and the amount of down payment you’ll need, it’s time to shop for a lender. Be careful in this step, as there are many shady lenders who are quick to hand out cash in exchange for very steep repayment amounts. Compare interest rates, the loan term (two years, three years, etc), monthly payment amounts and, of course, how much you’re able to spend. These factors will all help to determine your choice of lenders.

Step 6 Don’t panic if you don’t qualify with the first lender you choose. There are literally endless auto loan options available to you. Just be sure that you’re not living beyond your means. You may need to save a little more to come up with a bigger down payment, or simply choose a less expensive car.

Step 7 It’s easy to create a lousy credit rating, and the poor rating can hound you for a long time. If your credit rating is keeping you from securing an auto loan, you can begin working to rebuild it. Pay your bills on time, and clear up any outstanding debts. After six months, you’ll be able to reapply for a new credit rating. If this is not an option, you can choose to look into bad credit auto loans. Insurance companies that offer bad credit loans don’t require their customers to submit their credit histories, so it is possible to secure an auto loan despite poor credit. However, remember that the financer will view you as a risk, and you will pay higher rates.

Auto loans make it possible for virtually anyone to buy a new car. It’s why you see so many new vehicles on the road today. If you think you can’t afford the car of your dreams, shop around. You might be surprised at what you find.

Is it possible to own a new car, even if you don’t have $20,000 to spend? Absolutely. Auto loans make car ownership an affordable reality, and virtually anyone can arrange for financing. If you have sufficient income and a good credit rating, you will be able to choose from a selection of auto loans.

Step 1 Choose your wheels before arranging your loan. The bank or finance company will want to know what you’re buying, and how much you’ll need to borrow. Shop around by checking automotive websites and visiting local car dealers. Once you know exactly what you want to buy, you can negotiate a price with the seller. With price in hand, you’ll find it easier and faster to secure your financing.

Step 2 Shop around for the best interest rates. There are online websites like http://www.Bankrate.com that publish surveys and polls of loan rates across the United States. The rates of auto loans will fluctuate with the market, and they definitely differ from lender to lender. Shop around to find the lowest rate and best lending terms. Checking with local banks, credit unions and even car dealers can save you money.

Step 3 Purchasing a new car is a costly, and sometimes risky business.

Auto loans involve a lot of money, and you need to prevent any possibility of getting ripped off. Check with used car values to see how much your current vehicle is worth. Knowing your car’s value will help you to get the most money for your trade-in.

Consult a black book or research online to find the current market value of your vehicle.

Step 4 Determine how much you’re able to spend as your down payment. Providing cash up front can help you to secure an auto loan, as it proves to the lender that you’re responsible and willing to repay. It also decreases the amount of principle and interest you’ll pay throughout the term of your loan. Some lenders require a down payment of twenty percent of the vehicle price. Remember that the value of your current vehicle may be applied toward your down payment.

Step 5 Once you know the type of car you’re buying, the purchase price, the available rates and the amount of down payment you’ll need, it’s time to shop for a lender. Be careful in this step, as there are many shady lenders who are quick to hand out cash in exchange for very steep repayment amounts. Compare interest rates, the loan term (two years, three years, etc), monthly payment amounts and, of course, how much you’re able to spend. These factors will all help to determine your choice of lenders.

Step 6 Don’t panic if you don’t qualify with the first lender you choose. There are literally endless auto loan options available to you. Just be sure that you’re not living beyond your means. You may need to save a little more to come up with a bigger down payment, or simply choose a less expensive car.

Step 7 It’s easy to create a lousy credit rating, and the poor rating can hound you for a long time. If your credit rating is keeping you from securing an auto loan, you can begin working to rebuild it. Pay your bills on time, and clear up any outstanding debts. After six months, you’ll be able to reapply for a new credit rating. If this is not an option, you can choose to look into bad credit auto loans. Insurance companies that offer bad credit loans don’t require their customers to submit their credit histories, so it is possible to secure an auto loan despite poor credit. However, remember that the financer will view you as a risk, and you will pay higher rates.

Auto loans make it possible for virtually anyone to buy a new car. It’s why you see so many new vehicles on the road today. If you think you can’t afford the car of your dreams, shop around. You might be surprised at what you find.

Lookers has acquired 10 sites from HR Owen in a move that will see the dealer group now represent the Mercedes-Benz franchise.

The consideration payable in cash will be £5m goodwill and £8.1m of fixed assets. Once the value of stock is taken into consideration, however, the value of the deal could rise to between £18m-£25m.

The acquisition is expected to add around £175m to Lookers’ annual turnover and enhance profits in the first full year of ownership.

It represents the Manchester-based dealer group’s first purchase since the drawn-out battle with rival Pendragon for Reg Vardy at the beginning of the year.

Lookers’ chief executive Ken Surgenor told Motor Trader the deal was representative of the group’s strategy to expand its range of premium brands.

So far this year Lookers has boosted the number of Land Rover sites it operates by three as well as adding two Volvo and Jaguar dealerships in a multi-million pound deal with HR Owen at the start of the year.

“Our stated strategy has been to strengthen the mix of premium brands that Lookers operates. The market is going the way of the premium brands. You can see both BMW and Mercedes strengthening their market share and our strategy is in response to those market trends,” he said.

Surgenor said that the group had been keen to add Mercedes-Benz to its portfolio and did not rule out adding to the newly acquired franchise but said that was dependent on the manufacturer and the sites that became available in the future.

“We’re delighted to be approved by Mercedes. It’s a brand we’ve wanted to represent for some time,” Surgenor added. The deal covers four Mercedes sites in Redhill, Gatwick, Eastbourne and Brighton, with the latter also selling Smart; two ChryslerJeep outlets in Hatfield and Romford; two Lexus sites in Hatfield and Brighton; and Land Rover sites in Acton and South Kensington.

You’ve been bitten by the new car bug. Or perhaps you’re just so tired of your current car; you can hardly stand to drive it anymore.

You’re about to embark on the research phase of the car buying experience (which is the right course of action). But, before you even begin pointing, clicking, and eyeballing these shiny new toys; take a step back and determine just how much car you can afford to own and operate.

The conventional wisdom is not more than 20% of your monthly income… your net (take home) pay… not your gross pay. And by the way, while you’re doing your figuring on this 20% monthly cash outlay; make sure you include all the cars you own.

Regardless of whether you don’t even pay rent or own your home outright, stand firm on the 20% rule.

On your way to calculating your 20% budget, in addition to the purchase price, be sure to factor in any down payment and/or your trade-in value. The bottom line you’ll finance is the bottom line.

Of course, the more money you put down the more car you can buy and still be under the 20% rule. Keep in mind, the more money you put down doesn’t affect how much you actually pay and cars are severely depreciating assets… not investments.

Once you get close to determining your 20% number, you’ll need to know the going interest rates you’ll be paying on your borrowed money. And since we’ve now broached borrowing money and interest rates… you should also plan on getting a copy of your credit report while you’re at it.

Another important aspect to consider is the costs of ownership involved with the car. Things such as fuel, maintenance, and insurance premiums can run up some hefty numbers on you in addition to your monthly payment.

Maintenance and insurance costs are somewhat related, because insurance companies take into account the cost to repair a vehicle as part of their premium calculation. So, if you are looking at a car that is expensive or difficult to repair, you’re probably also looking at higher insurance premiums as well.

So, even though you should keep the 20% rule firmly in mind as your are crunching your numbers, don’t overlook all the other monthly expenses associated with the car you are considering.

Taking the time to get all of your financial and budget numbers in place before you seriously begin looking at your intended makes and models will serve as a good financial rudder for you during the car buying process and make for much wiser purchase.

Have you ever wondered about the differences in the tastes of men and women when it comes to cars? Clearly, men prefer cars that look tough and masculine and ooze power while women prefer cars that are “cute” and stylish, right? Well, that’s true to a certain extent, according to a recent study on car ownership between the sexes. However, what may be surprising to some is that there are areas of common interest between men and women and that both actually share a liking for the same favorite cars.

According to registration records for new 2005 and 2006 car models (January 2006 to the present), men love luxurious, high performance cars, preferably with a horsepower of 367 or more. On the other hand, women prefer cars that are affordable, practical and safe. They also put a premium on design flair in their cars as evidenced by the popularity of the Eclipse Spyder convertible, which had the highest percentage of female registrants of any car on the market. The preferred horsepower for the women’s cars were way below the standards of men, with the top five models having only an average 172 hp compared to 367 hp in the men’s favorites. It was just like you expected, right?

It was interesting to see the Mitsubishi Eclipse Spyder on top of the list of women’s favorite cars. If you take a good look at it, it does somehow seem like a feminine-looking car. But hold it. The Eclipse Spyder also happens to be the car of choice among 34.2% of male registrants. In fact, the study showed that registration records indicate that men sometimes buy feminine cars but women rarely purchase male-oriented, testosterone-fueled sports and luxury cars.

The thing is, what really makes a feminine car? I mean, I always considered the Mitsubishi Eclipse Spyder to be a masculine car ever since I first saw it in the 2003 movie “2 Fast 2 Furious,” particularly since it belonged to the angry, muscular ex-convict played by Tyrese Gibson.

The next popular cars for women were the Toyota RAV4 sport utility vehicle (SUV) and another Mitsubishi favorite, the hardtop Eclipse coupe. The men’s favorites were the Honda Acura NSX sports car and DaimlerChrysler’s Mercedes-Benz S55 AMG performance sedan.

When it comes to negotiating your best deal on the car you’ve got your eye on, first and foremost you have to do your research and homework on all the various parts of putting a car deal together.

At a high level, this is all the pricing, rebate, and dealer incentive numbers you can find on your perspective car. You’ve lined up your financing so you know what you qualify for, how much you qualify for, how long you can finance, and what your monthly payments will be based on a few different financing scenarios. And (if applicable) you know the actual cash value, and retail value of your trade-in.

If you don’t have a firm grasp on the aforementioned, proceed no further (don’t show up at a dealership) until you do.

But if you have, and you feel confident, let’s talk a bit further about negotiating.

Rule number one when it comes to negotiating and car deals.

Never – negotiate from the MSRP down… You’ll never get to the price you want.

Always negotiate from invoice price or dealer cost up.

Since you’ve done your homework, go to the dealership with your opening offer in mind. Be confident in yourself and the fact that although you certainly aren’t going to offer sticker price, your number will be fair and not ridiculous. If you offer up something totally ridiculous for the selling price from the dealer, you’ve wasted your time and haven’t really opened the negotiating process because your offer won’t even be viewed as serious. Keep your offer within the ‘win-win’ window.

When you know your numbers and you come across as confident (because you are) the sales people and the others at the dealership will be aware of this and will spend less time trying to ‘work’ you.

Give yourself room to eventually feel good. By this I mean, don’t table your first offer with the price you have in mind that you are willing to pay. Think about it for a moment; by definition there is going to be some negotiating going on here, so you certainly don’t want to begin at the price you want to be and simply hold firm. This may sound easy but this is truly a point where many miss the mark. Many people feel uncomfortable about starting below their target price, but it is an absolute must when it comes to successfully coming close to or hitting your pricing goal.

If the salesperson or the dealership is the first to offer up a number to get things going, rather than you countering with an actual dollar amount simply let the salesperson know that his number simple not within your budget and they need to come back with a better offer. By doing this, your goal is to get an even better opening price without tipping your hand.

Remember, a dealership is always going to take a couple shots at maximizing the deal for their side first.

Keep in mind that negotiating is just that… negotiating. It isn’t a one-way street where you get everything you want and the dealership simply acquiesces. There is plenty of give and take and it may not (actually hardly ever is) limited to just the price of the car. In other words, if you feel like you have to come up a bit off your offer or counter offer, see if you can get some return value for your effort such as some complimentary maintenance, even floor mats or something.

When you do this it keeps the negotiation alive and lets the dealer know that you are serious about putting together that ‘win-win’ deal that works for both parties.

Stay open minded during the process and treat the entire car buying process as a negotiation package. There are numerous avenues that you can probe for negotiation during the car buying process. It’s not just the price. However, don’t agree on the price and then start trying to negotiate other items. Once you’ve said yes to the price, you lose your leverage. Remember it’s the entire package.

Finally, always keep in mind that without you… there is no deal for the dealer. If you reach an impasse… if you have to… walk. Don’t rationalize giving in against your better judgment because you really want the car, or that you’ve spent the better part of your day at the dealership. Remember the dealer and the salesperson have their time invested as well and don’t want the deal to fall through either. Be patient, keep the negotiation communication lines open and chances are you’ll be rewarded with a new car at a price you feel good about paying.