I have always carried a comprehensive deductible of $500 or so on my cars, thinking that this is the way to go. In the past couple of years, Ive had 3 incidents that required glass replacement for my '01 Blazer. I never really thought much about the insurance cost until recently as 2 out of the 3 replacements were below the $500 deductible. Someone broke the back window out of the Blazer and I was getting bids north of $1000 to replace. So I called my insurance agent to place a claim. While I was on the phone, I casually asked what the difference in price would be had I just had $0 deductible. The agent made a quick calculation and told me it was around $16 every 6 months. In complete disbelief, I hung up to ponder this one!! A quick calculation showed me that it would take me more than 16 years of paying this added premium to spend that $500 deductible. I was not happy.
I called the agent back to complain that they should have instructed me on this. I am a long-standing customer and why wasn't I provided service that would have brought this to my attention. Long story short, they back dated my policy in order for me to recover the $500 deductible. But I'm still out for the other two glass replacements!! So, if you've not checked recently on your comprehensive coverage and you are at a high deductible, make sure you ask you agent what the cost difference would be. I think you'll be surprised.
Monday, April 27, 2009
Flip it or Hold
No, I'm not talking about your home or latest stock investment. I'm talking about your car. For years I have debated about keeping a car or selling it and getting something new. Actually, I'm not a very good candidate for a brand new car anyway. The first year depreciation is enough to scare me off.
The reality is that most people simply get tired of their car and just want a change. Financially, this is usually a big mistake. Certainly, fixing the old car can add up over time, bu compared with the cost of a new car, added interest cost and in most cases maintenance cost, it just doesn't add up to replace. Car, especially in the USA, are very under utilized. There are millions of them for sale in the used category. How about the Vehix.com ad claiming to have over 1.3 million advertised on their site. How many do Autotrader and Cars.com have? This is not to mention the millions of unsold new cars sitting around.
It seems to me that as responsible users of what we produce, we should be more aware of getting the true value out of each vehicle. And I think that it's the best financial decision too.
So the net time you're car needs some attention, instead of just selling it, really do the math. I think you'll find it makes sense to fix it. Also you'll be helping in really using up it real value. It took a lot of resources to build it, and it should be thoroughly used.
The reality is that most people simply get tired of their car and just want a change. Financially, this is usually a big mistake. Certainly, fixing the old car can add up over time, bu compared with the cost of a new car, added interest cost and in most cases maintenance cost, it just doesn't add up to replace. Car, especially in the USA, are very under utilized. There are millions of them for sale in the used category. How about the Vehix.com ad claiming to have over 1.3 million advertised on their site. How many do Autotrader and Cars.com have? This is not to mention the millions of unsold new cars sitting around.
It seems to me that as responsible users of what we produce, we should be more aware of getting the true value out of each vehicle. And I think that it's the best financial decision too.
So the net time you're car needs some attention, instead of just selling it, really do the math. I think you'll find it makes sense to fix it. Also you'll be helping in really using up it real value. It took a lot of resources to build it, and it should be thoroughly used.
Monday, April 20, 2009
Cream Rising
This is the best F-1 season in years. What is obviously clear is that the best of the best are rising to the top. The Chinese GP was a show case for Adrian Newey's Red Bull Racing Team. With a solid one-two finish and almost the same for qualifying, the competition is tough between, Newey and Brawn, the other old war horse. It's great to see two of the most respected F-1 engineers rise above he rest. These guys have paid lots of dues and their time has arrived. I look forward to the rest of this season. It's going to be a battle. Good bye McClaren and Ferrari. There day is way off in the future.
Follow up on Headlight fix kit
Well I got a hold of the folks from Scientic Instruments in NJ. I had to leave a message but they called back within a few hours. The customer service guy told me that the instructions for using the kit were on the site. He gave me instructions and walked me thru the process of finding them. In short, the kit is nothing more than a bunch of various circular pieces of sandpaper from a coarse to a very fine. The concept is to use the most coarse sandpaper first to get out the most serious scratches and divots, then you proceed thru the entire set of sandpapers, I think there are about 7 or 8. Once this process is completed, they include a small( really small) bottle of what is just a plastic polish. The bottom line, there is no magic here. You could go to the local hardware store to get the sandpaper disks, use an attachment to your electric drill and buff it out with a plastic polish from Meguiars or some other provider. The total cost would be a lot less than $35 and you would have lots of plastic polish left over. A Definite buyer beware.
Tuesday, April 14, 2009
Knit picking
Can you believe this. A guy who owned a Ferrari Enzo is suing a service company because they put 25 miles on his car after the service was completed. It pushed the total mileage from 900 miles to 1015. The owner is claiming that the fact that the car now has more than 1000 miles, it has diminished the value of the car. How about some other questions, like who drove it the first 900 miles, how many owners has it already had, has it been crashed? Remember the Enzo that was destroyed in CA about 2 years ago after the new owner had just taken possession of it. That car probably was rebuilt from the ground up. In any case a prominent attorney is quoted as follows:
"My legal opinion is that there is no claim or legal case against a repair facility that puts 25 miles or so on an Enzo, increasing the odometer reading from less than 1,000 miles to a little over 1,000 miles. Firstly, market conditions evidence that the resale value of the Enzo is decreasing. The minimal added mileage does not affect the decrease in value. Second, any legitimate automotive repair facility will thoroughly test drive the vehicle under repair to insure it is operating properly. This involves putting the car through its paces. Accordingly, an increase of 25 miles on the odometer is reasonable. In my opinion, no credible expert in the field of the Ferrari market would testify that the increase in mileage on this Enzo had diminished the vehicle's fair market resale value. Any claim for diminution in value would be without factual and legal merit."
Enough said. Some people sue for the most ridiculous reasons.
"My legal opinion is that there is no claim or legal case against a repair facility that puts 25 miles or so on an Enzo, increasing the odometer reading from less than 1,000 miles to a little over 1,000 miles. Firstly, market conditions evidence that the resale value of the Enzo is decreasing. The minimal added mileage does not affect the decrease in value. Second, any legitimate automotive repair facility will thoroughly test drive the vehicle under repair to insure it is operating properly. This involves putting the car through its paces. Accordingly, an increase of 25 miles on the odometer is reasonable. In my opinion, no credible expert in the field of the Ferrari market would testify that the increase in mileage on this Enzo had diminished the vehicle's fair market resale value. Any claim for diminution in value would be without factual and legal merit."
Enough said. Some people sue for the most ridiculous reasons.
Monday, April 13, 2009
The Diffuser Issue
Here's the text relating to the diffuser issue in F-1:
Eight teams to be heard at diffuser appeal The FIA has published further details relating to next week’s International Court of Appeal (ICA) hearing over the legality of the diffusers being used by the Brawn GP, Toyota and Williams teams.
Ferrari, Red Bull and Renault lodged the appeal in Australia after stewards rejected their protests over the diffusers. BMW Sauber lodged a similar protest and appeal in Malaysia.
All seven of the aforementioned teams, along with McLaren, are expected to be heard by the ICA next Tuesday, with an announcement of the hearing’s outcome expected the following day.
FIA statement in full:
The following hearing of the International Court of Appeal will take place in Paris:
Hearing
Appeals lodged by:
- OSK/ÖAMTC on behalf of its competitor Red Bull Racing;
- FFSA on behalf of its competitor ING Renault F1 Team; and
- CSAI on behalf of Scuderia Ferrari Marlboro
against decisions numbered 16 to 24 taken by the Panel of the Stewards on 26 March 2009 at the 2009 Grand Prix of Australia and counting towards the 2009 FIA Formula One World Championship
Prior to the 2009 Grand Prix of Australia, Red Bull Racing, ING Renault F1 and Scuderia Ferrari Marlboro submitted protests to the Panel of Stewards arguing that the cars of Brawn GP Formula One Team, AT&T Williams and Panasonic Toyota Racing did not comply with the 2009 Formula One Technical Regulations. The disputes relate in particular to the technical design of the diffuser devices used by the latter three teams. The Panel of the Stewards rejected the protests submitted.
Red Bull Racing, ING Renault F1 and Scuderia Ferrari Marlboro have (through their respective ASNs) appealed the Stewards’ decisions.
Vodafone McLaren Mercedes, Brawn GP Formula One Team, AT&T Williams, BMW Sauber F1 Team and Panasonic Toyota Racing have (through their respective ASNs) asked to be heard by the Court.
When
10.00 hrs
Tuesday, April 14, 2009
Where
FIA Salle du Comité,
8, place de la Concorde,
75008 Paris
Decision
The decisions are expected on Wednesday, April 15, 2009, in the afternoon.
Eight teams to be heard at diffuser appeal The FIA has published further details relating to next week’s International Court of Appeal (ICA) hearing over the legality of the diffusers being used by the Brawn GP, Toyota and Williams teams.
Ferrari, Red Bull and Renault lodged the appeal in Australia after stewards rejected their protests over the diffusers. BMW Sauber lodged a similar protest and appeal in Malaysia.
All seven of the aforementioned teams, along with McLaren, are expected to be heard by the ICA next Tuesday, with an announcement of the hearing’s outcome expected the following day.
FIA statement in full:
The following hearing of the International Court of Appeal will take place in Paris:
Hearing
Appeals lodged by:
- OSK/ÖAMTC on behalf of its competitor Red Bull Racing;
- FFSA on behalf of its competitor ING Renault F1 Team; and
- CSAI on behalf of Scuderia Ferrari Marlboro
against decisions numbered 16 to 24 taken by the Panel of the Stewards on 26 March 2009 at the 2009 Grand Prix of Australia and counting towards the 2009 FIA Formula One World Championship
Prior to the 2009 Grand Prix of Australia, Red Bull Racing, ING Renault F1 and Scuderia Ferrari Marlboro submitted protests to the Panel of Stewards arguing that the cars of Brawn GP Formula One Team, AT&T Williams and Panasonic Toyota Racing did not comply with the 2009 Formula One Technical Regulations. The disputes relate in particular to the technical design of the diffuser devices used by the latter three teams. The Panel of the Stewards rejected the protests submitted.
Red Bull Racing, ING Renault F1 and Scuderia Ferrari Marlboro have (through their respective ASNs) appealed the Stewards’ decisions.
Vodafone McLaren Mercedes, Brawn GP Formula One Team, AT&T Williams, BMW Sauber F1 Team and Panasonic Toyota Racing have (through their respective ASNs) asked to be heard by the Court.
When
10.00 hrs
Tuesday, April 14, 2009
Where
FIA Salle du Comité,
8, place de la Concorde,
75008 Paris
Decision
The decisions are expected on Wednesday, April 15, 2009, in the afternoon.
Headlight Repair- Watch out
I just recently bought a headlight repair kit to bring back the clear platic look to my BMW 540i and my Audi S-4. I found this kit online at Scientific Instruments, Inc. in NJ. The kit came quickly-no problem. So this weekend, I decided to give it a try. For $35 including shipping, I got a little bottle of white stuff, several disks of varying grit sandpaper and a buffer wheel. Also I had purchased the electric drill attachment to make the project go faster. The kit came with numerous brochures for other prodcuts but NO intructions for using the kit. So trail and error!! I started with the white stuff and a very fine sandpaper using the drill. After applying it, I drilled away for a few minutes to see what happened. After whiping it clean, I saw bascially no results. Next set was to use a more coarse sandpaper. I did this and slowly, the pits disappeared but the lens became more cloudy. So as not to completely destroy the lens, I shyt down the whole operation. I will next call Scientific Instruments to get further insttuctions. We'll see-to be continued.....
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