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.....
Tuesday, April 7, 2009
new bmw
BMW X1 spied at Nurburgring
BMW is hard at work on its new small SUV, the X1, and spy shooters have caught it during testing at Germany's famed Nürburgring.
No word on how fast this JV ute is running the 'Ring, but it looks like the concept seen last fall at the Paris motor show--which was fairly close to production guise.
The X1 will get the same mechanicals as the recently redone 3-series. The X1 launches in Europe in 2010 and is expected to arrive in the United States later in the year.
The X1 gets a bit of the X5's styling and is the first BMW ute to offer rear- or four-wheel drive. Look for four- and six-cylinder powerplants.
A sister car also is planned for Mini off the same underpinnings. As the name implies, the X1 becomes the entry BMW ute, while the X3 is expected to shift upmarket a bit.
BMW is always on the leading edge for new product. they just don't have recessions at their plants.
BMW is hard at work on its new small SUV, the X1, and spy shooters have caught it during testing at Germany's famed Nürburgring.
No word on how fast this JV ute is running the 'Ring, but it looks like the concept seen last fall at the Paris motor show--which was fairly close to production guise.
The X1 will get the same mechanicals as the recently redone 3-series. The X1 launches in Europe in 2010 and is expected to arrive in the United States later in the year.
The X1 gets a bit of the X5's styling and is the first BMW ute to offer rear- or four-wheel drive. Look for four- and six-cylinder powerplants.
A sister car also is planned for Mini off the same underpinnings. As the name implies, the X1 becomes the entry BMW ute, while the X3 is expected to shift upmarket a bit.
BMW is always on the leading edge for new product. they just don't have recessions at their plants.
Mag Chloride-Bad Stuff
I own a '01 S-4 Audi that is about my favorite car of all times. We lived in the Vail Valley, Colorado for the first 3 years of the car's life-lots of nasty weather and lots of mag chloride on the roads. About a year ago, I had a pump of some sorts go out. The pump was located deep under the injection system, so getting to it was not easy or cheap. Once it was pulled, my mechanic in Denver noted that the plastic on the pump had deteriorated saying he had not seen this before. It was replaced. Not long after, I had another major plastic failure under the hood. More time and money. Then recently, while in Vail, I had a simple plastic T just fall apart. At the garage, the mechanic told me that this was common with cars subject to exposure to mag chloride. So all these failures are happening at once. I thought I had been pretty careful cleaning the engine compartment, but obviously I had not. Note that lots of cars use plastic components under the hood. So take some time to thoroughly clean this crude from under the hood and car.
World Engine
So the FIA, Max Mosley specifically, is talking about developing a "world engine". That means that every race car out there will have bascially some form of the same engine. No more Ferrari engine. No more Honda engine. etc etc etc. How about this quote:
"We're looking at the moment at a 'world engine' for 2013," Mosley said. "That's to say an engine that would work in turbocharged form for F1 and then all the way down to naturally aspirated form for the lesser categories and in a turbocharged or naturally aspirated form for the World Rally Championship."
They're even talking about using it in the IRL, maybe NASCAR. Who knows. I'm all for controlling thd cost of racing. F1 has gotten pretty absurd, but I think the challenge to the teams should be to develop their own cost effective engines. Establishing a budget for this would work as well. I just hate to see racing reduced to watching the same equipment compete. Racing is much more creative than this. That creativity translates to some pretty cool stuff for the street too. I'd like to see this continue.
"We're looking at the moment at a 'world engine' for 2013," Mosley said. "That's to say an engine that would work in turbocharged form for F1 and then all the way down to naturally aspirated form for the lesser categories and in a turbocharged or naturally aspirated form for the World Rally Championship."
They're even talking about using it in the IRL, maybe NASCAR. Who knows. I'm all for controlling thd cost of racing. F1 has gotten pretty absurd, but I think the challenge to the teams should be to develop their own cost effective engines. Establishing a budget for this would work as well. I just hate to see racing reduced to watching the same equipment compete. Racing is much more creative than this. That creativity translates to some pretty cool stuff for the street too. I'd like to see this continue.
Monday, April 6, 2009
Alfa Guy
I've located a really great Alfa spider. It looks to be original and low miles. It's a 1988 Quatrofilio which was a limited production, upscale version of the Veloce spider. It's silver with the red accented interior along with the optional hardtop. I've got to have this car. AT $6,800 bucks I think it's priced right, especially if I can get the price down closer to $6,000.
A few years back I bought a regular low miles Veloce spider for around $4500. I spent $2000 getting it squared away, but it was an all original '84 spider with 25,000 miles. After a little refurbishing, it looked practically new. Got it listed in the Barrett Jackson Auction, Jan of '06, and sold it for $16,500. Not a bad profit.
The trick with Alfas is to find a nice low mile one. Most have been run hard and neglected, so any time you can find one that is original and well maintained, it's the basis for a good buy. If you know of anyone that wants to sell their Alfa, let me know. I'm always interested. I'll pay a finders fee.
A few years back I bought a regular low miles Veloce spider for around $4500. I spent $2000 getting it squared away, but it was an all original '84 spider with 25,000 miles. After a little refurbishing, it looked practically new. Got it listed in the Barrett Jackson Auction, Jan of '06, and sold it for $16,500. Not a bad profit.
The trick with Alfas is to find a nice low mile one. Most have been run hard and neglected, so any time you can find one that is original and well maintained, it's the basis for a good buy. If you know of anyone that wants to sell their Alfa, let me know. I'm always interested. I'll pay a finders fee.
BrawnSupremacy rolls
Ross Brawn is my new hero. On to the Malaysian Gran Prix, and another win. What's really amazing is that Ross got Richard Branson to step up and help fund the effort. Branson always seems to show up at the most opportune time-the guy really has the midas touch. In his own words, " My life seems to be under a lucky star". So not only has Ross got the car, the team, the drivers, but also the sponsorship. I think that he's the new force in F1. The reality is, he's been the force in F1 for a number of years-just not as recognized.
After two races Ferrari and McLaren have, combined, 1 POINT. If you'd taken this bet to Las Vegas before the beginning of the season, you'd now be looking to buy the island right next to Branson's in the Caribbean.
Stay tuned-
After two races Ferrari and McLaren have, combined, 1 POINT. If you'd taken this bet to Las Vegas before the beginning of the season, you'd now be looking to buy the island right next to Branson's in the Caribbean.
Stay tuned-
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