#THE FORD THAT FLOPPED

The biggest flop in Ford Motor history was the Edsel. Over 6,000 names were considered for this car before finally Henry Ford's son's name was picked. The Edsel styling element, a vertical grill with large oval in the center, to a horse collar or a car sucking a lemon. Early models had reliability issues. Perhaps more important, a recession dumped demand for midsize cars. Just over 100,000 Edsels sold over three model years. The Edsel was oversold by Ford as the revolutionary of the future. Ford announced it was suspending production in 1959 amid losses estimated at $250 million. Time magazine said "Edsel was the wrong car for the wrong marked at the wrong time." Legions of Edsel collectors stayed loyal and starting in the late 1960's formed clubs that now have members in 48 states, Canada and elsewhere. Restored Edsels can go for upward of $100,000.

BANKS OVER CHARGING ON AUTO LOANS#

A federal consumer regulator said on Thurday some lenders offering auto loans through auto dealerships charge minorities above-market interest rates and warned it will crack down on a profit-sharing practice between used and new car dealers and lending institutions. The Consumer Financial Protection Bureau said a typical industry practice known as "dealer markup" -in which a lender and a used or new car dealer split interest-rate charges-may lead to lending discrimination. The regulator said its examination of the industry shows that some lender policies allows markups of interest rates, and that there is a "significant risk" the practice results in higher interest rates for African-Americans and Hispanics. The CFPB would force auto lenders "into changing the way they compensate dealers without any indication that the bureau has examined the effect this change could have on the cost of credit for consumers". The agency failed to address the fact that high risk consumers often times require the cardealer to in fact co-sign or guarantee the loan. If the consumer defaults on the car loan the dealership is liable to the bank to payoff the debt. The credit scoring system often requires consumers with marginal or low credit scores to pay higher interest rates.

#NEW CAR SALES STRONG

Latest News New Vehicle Sales Remain Strong New-vehicle sales remain strong in March, as both the light-vehicle retail selling rate and the total light-vehicle rate are consistent with February's performance at 12.1 million units and 15.3 million units, respectively, according to a monthly sales forecast developed by J.D. Power and Associates' Power Information Network (PIN) and LMC Automotive. March new-vehicle retail sales are expected to come in at 1,158,000 vehicles, which represent a seasonally adjusted annualized rate (SAAR) of 12.1 million units, with volume approaching a double-digit increase from March 2012. Retail transactions are the most accurate measurement of true underlying consumer demand for new vehicles. The average new-vehicle customer-facing retail transaction price ($28,504) is up 3 percent from March 2012. Leases account for 23.1 percent of new-vehicle retail transactions in March 2013, up from 20.0 percent in March 2012. In addition, the percentage of retail sales with a 72-month or longer loan is at record levels, reaching 32.1 percent in March 2013, an increase from 30.4 percent in March 2012. Total light-vehicle sales in March 2013 are projected to reach 1,465,100 units, an 8 percent increase from March 2012, with a selling rate that is consistent with the expected performance for the year. Fleet share is expected to hold at 21 percent. The outlook for 2013 remains strong and consistent with the pace expected to be set in the first quarter. LMC Automotive is holding its 2013 U.S. forecast for total light-vehicle sales at 15.3 million units and the retail light-vehicle forecast at 12.5 million units.

BEWARE OF FAKE DEALER LOTS AND ADS

Latest News BBB Warns of Fake Dealership Sites The Better Business Bureau of Minnesota and North Dakota (BBB) is urging consumers considering an online car purchase to be extra cautious following three recent incidents involving bogus auto dealer websites, each claiming to be located in North Dakota. This scheme was first brought to light by the BBB in late 2011 - when another bogus online entity claimed to be operating an auto dealership in southern Minnesota - and it appears to be spreading. In the three most recent cases investigated by the BBB, the 'hook' used to entice customers was similar - authentic-looking used auto dealer websites featuring high-end luxury cars such as Ferraris and Bentleys, often priced thousands of dollars below typical book value. Each site claimed a physical address in North Dakota, and provided one or more North Dakota phone numbers for people to contact. Last October, a Connecticut consumer alerted the BBB to a website purporting to be 'Wieser Autos', on 7th St. S. in Fargo, N.D., (this is not to be confused with Wieser Auto Sales, a legitimate used car dealer in Wahpeton, N.D.). The BBB's investigation revealed that no such dealer was licensed in North Dakota, and that many of the website's auto listings were lifted directly from online inventories of legitimate car dealers around the country. The Fargo address the phony company claimed actually belonged to an unsuspecting business not connected with the shady website. The BBB immediately contacted the web provider hosting the bogus website, reporting its findings and urging the provider to suspend the site. The website was taken down within a few days, although the BBB subsequently learned of a victim in California who sometime in the weeks prior had wired away over $23,000 to scammers for a truck he never received. In November, the BBB received a complaint from an Illinois consumer about a website claiming to be 'Golden Motor Group' on Morrison Ave in Bismarck, N.D. The BBB once again determined that listed vehicles actually belonged to other, legitimate dealerships, and that the address listed was a rented storage locker. The BBB was again able to have that website shut down. Unfortunately, the consumer who reported the scam had already wired away $32,000 for a sports car that was never delivered. The most recent example of this scam came in February, when a consumer in Hawaii contacted the BBB about a website purporting to represent 'Nationwide Motor Center,' with an address on North 4th St. in Grand Forks, N.D. Once again, the BBB was able to establish that the dealership and its inventory were non-existent, and the web provider quickly opted to shut down the site when presented with these findings. One new 'twist' in the Grand Forks case was that the consumer first encountered 'Nationwide Motor Center' through a listing on Cars.com, a legitimate auto advertising and research site. A contact claiming to be a private individual indicated she was consigning her truck due to 'financial hardship,' and urged the consumer to contact 'Nationwide' about the purchase. The consumer cut off communication with the 'consignor,' and he alerted the BBB.

#The Toyota 1988 Land Cruiser 4x4

Stevescars.com one of the nation's number auto reseller of police impound vehicles has just received a 1988 4x4 v6 Toyota Land Cruiser for sale. Review the history below of this great vehicle. The vehicle comes with roof rack and has 186,000 miles and a clean Ca. title. This vehicle can be shipped nationwide. The vehicle has a view minor dings but looks great for 25 year old vehicle. 60 Series Also called Toyota Samurai (Venezuela) Production 1980–1990 Assembly Toyota City, Japan (ARACO) Cumana, Venezuela Body style 4-door station wagon Layout Front engine, four-wheel drive Engine Petrol: 4.2 L I6 2F petrol (FJ60) 4.0 L I6 3F petrol (FJ62) Diesel: 3.4 L I4 3B diesel (BJ60) 4.0 L I6 2H diesel (HJ60) Turbodiesel: 4.0 L I6 12H-T diesel turbo (HJ61) Transmission 4-speed manual H41F or H42F 4-speed automatic A440F 5-speed manual H55F (non-US) Wheelbase 2,730 mm (107.5 in) Length 4,675 mm (184.1 in) Width 1,800 mm (70.9 in) Height 1,750 mm (68.9 in) The Land Cruiser 60 series was produced from 1980 through 1990 for most markets but the Cumana Plant in Venezuela continued until 1992 for their local market. It is a front engine, four door wagon which can seat five to eight[citation needed] people. Like all Land Cruiser generations, it is well known in the off-road world for its off-road abilities but was somewhat limited by its awkward departure angles.[citation needed] The 60 series was available in the following solid exterior colors: Alpine White, Brown, Desert Beige, Freeborn Red, Royal Blue; and in the following metallic exterior colors: Charcoal Gray, Cognac, Gray-Blue, Rootbeer, Sky Blue, Stardust Silver. 1980 — The 60 series was introduced. While still retaining the rugged off-road characteristics of previous Land Cruisers, the 60 was designed to better compete in the emerging sport utility vehicle market. The 60 was given a variety of comforts like air conditioning, a rear heater and an upgraded interior. The FJ60's "2F" petrol engine was left unchanged from the "40" series while six-cylinder 4.0 L 2H and four-cylinder 3.4 L 3B diesel engines were added to the product line. 1981 — Land Cruiser sales surpassed 1 million and a high-roof version was introduced. The 60 series was introduced to South Africa when a stock Land Cruiser competed in the Toyota 1000 km Desert Race in the punishing wilds of Botswana. 1984 — This was the final year for the 40 series. 1984 — Alongside the 60 series, the 70 series was introduced. 1985 — The Direct-injection 12H-T turbodiesel engine was introduced. 1988 — The petrol engine was upgraded to a 4.0 L 3F-E EFI engine. The FJ62G VX-Series was introduced allowing the Land Cruiser to be sold in Japan as a passenger vehicle. Toyota Land Cruiser post-facelift (US) 1981–1987 Toyota Land Cruiser (FJ60; Australia) 1987–1990 Toyota Land Cruiser (FJ62RG) GX (Australia) 60 Series 60 Series Also called Toyota Samurai (Venezuela) Production 1980–1990 Assembly Toyota City, Japan (ARACO) Cumana, Venezuela Body style 4-door station wagon Layout Front engine, four-wheel drive Engine Petrol: 4.2 L I6 2F petrol (FJ60) 4.0 L I6 3F petrol (FJ62) Diesel: 3.4 L I4 3B diesel (BJ60) 4.0 L I6 2H diesel (HJ60) Turbodiesel: 4.0 L I6 12H-T diesel turbo (HJ61) Transmission 4-speed manual H41F or H42F 4-speed automatic A440F 5-speed manual H55F (non-US) Wheelbase 2,730 mm (107.5 in) Length 4,675 mm (184.1 in) Width 1,800 mm (70.9 in) Height 1,750 mm (68.9 in) The Land Cruiser 60 series was produced from 1980 through 1990 for most markets but the Cumana Plant in Venezuela continued until 1992 for their local market. It is a front engine, four door wagon which can seat five to eight[citation needed] people. Like all Land Cruiser generations, it is well known in the off-road world for its off-road abilities but was somewhat limited by its awkward departure angles.[citation needed] The 60 series was available in the following solid exterior colors: Alpine White, Brown, Desert Beige, Freeborn Red, Royal Blue; and in the following metallic exterior colors: Charcoal Gray, Cognac, Gray-Blue, Rootbeer, Sky Blue, Stardust Silver. 1980 — The 60 series was introduced. While still retaining the rugged off-road characteristics of previous Land Cruisers, the 60 was designed to better compete in the emerging sport utility vehicle market. The 60 was given a variety of comforts like air conditioning, a rear heater and an upgraded interior. The FJ60's "2F" petrol engine was left unchanged from the "40" series while six-cylinder 4.0 L 2H and four-cylinder 3.4 L 3B diesel engines were added to the product line. 1981 — Land Cruiser sales surpassed 1 million and a high-roof version was introduced. The 60 series was introduced to South Africa when a stock Land Cruiser competed in the Toyota 1000 km Desert Race in the punishing wilds of Botswana. 1984 — This was the final year for the 40 series. 1984 — Alongside the 60 series, the 70 series was introduced. 1985 — The Direct-injection 12H-T turbodiesel engine was introduced. 1988 — The petrol engine was upgraded to a 4.0 L 3F-E EFI engine. The FJ62G VX-Series was introduced allowing the Land Cruiser to be sold in Japan as a passenger vehicle. Toyota Land Cruiser post-facelift (US) 1981–1987 Toyota Land Cruiser (FJ60; Australia) 1987–1990 Toyota Land Cruiser (FJ62RG) GX (Australia)