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Welcome Back, Car Enthusiasts to Turbo Times - your gateway to the world of cars!
Starting off again with the idiot of the week. This person made reversing out of a space look MUCH harder than it is.
Can only back out to the right! #idiotsincars
— Drive Through (@EatHealthyFree)
11:04 AM • Nov 19, 2023
News from The Paddock
Unveilings
Jeep Avenger Range Expands with New Petrol and Hybrid Powertrains
Jeep is expanding the Avenger lineup, introducing two new internal combustion engines alongside the original electric powertrain. These additions include a mild hybrid system and a pure-petrol engine. The Avenger e-Hybrid combines a 1.2-liter petrol engine with a six-speed automatic gearbox and a 48-volt electric motor, offering short-distance electric-only operation, reduced CO2 emissions, and impressive fuel efficiency. The pure-petrol Avenger features a 99bhp 1.2-liter petrol engine with a six-speed manual transmission, maintaining good fuel economy. Additionally, Jeep plans to launch a plug-in hybrid Avenger (4xe) in June 2024, providing four-wheel drive capability. This expansion aligns with Jeep's commitment to electric mobility, aiming for a fully electric presence in Europe by 2030. Click the video below for a sneak peak.
Sale of the Week
2020 Ford GT
In a remarkable sale, a 2020 Ford GT Mk II has found a new owner, fetching an impressive $1,626,000. This track-focused masterpiece is one of only 45 Mk II models engineered independently of racing regulations and built by Multimatic in Ontario, Canada. It boasts a twin-turbocharged 3.5-liter EcoBoost V6 with 700 horsepower, a seven-speed dual-clutch automatic transaxle, and upgraded Brembo carbon-ceramic brakes. With features like adjustable DSSV shock absorbers, a roll cage, and a MoTeC data acquisition system, this Ford GT Mk II is a true racing marvel. Previously acquired by the selling dealer in 2023 and with just 1,100 miles, it's a testament to automotive excellence and high-performance engineering. Congratulations to the fortunate new owner of this exceptional track machine.
This is probably our favorite car featured in the Sale of the Week so far. Make sure to click the video below to see the walkaround of this beautiful vehicle…
Buying?
Early Loan Payoff Strategies
🏁 Paying off your auto loan ahead of schedule can save you money on interest and free up your finances sooner. Take these practical steps:
Biweekly Payments: Split your monthly payment in half and pay it every two weeks. This simple change adds up to an extra monthly payment each year.
Round Up Payments: Round up your monthly payments to the nearest hundred or even add a little extra. For example, if your monthly payment is $275, consider paying $300 or more. This extra amount goes directly toward reducing your principal balance.
Lump Sum Payments: Whenever you receive windfalls like tax refunds, bonuses, or unexpected cash, use them to make significant one-time payments toward your loan principal. Even a single lump sum can make a big difference.
Refinancing: If your credit has improved since you initially got the loan, explore refinancing options. A lower interest rate and a shorter loan term can help you pay off the loan faster.
Make Extra Payments: Whenever you come across extra money, such as a work bonus or earnings from a side gig, allocate it towards your loan. Don't let it slip away; put it to work for your early payoff goal.
Automate Payments: Set up automatic payments to ensure you never miss a due date. Consistent payments keep you on track and prevent late fees.
Prioritize High-Interest Loans: If you have multiple loans, focus on paying off the one with the highest interest rate first. This minimizes the overall interest you'll pay.
Check for Prepayment Penalties: Contact your lender to verify that there are no penalties for early payoff. You want to be free to pay off your loan as quickly as possible.
Track Your Progress: Regularly monitor your loan balance to stay motivated. Seeing your debt decrease over time can inspire you to keep going.
Create a Payoff Plan: Develop a clear timeline for paying off your loan. Set specific goals and milestones to help you stay committed and measure your progress.
Remember, taking action on these strategies not only helps you pay off your auto loan early but also reduces the total interest you'll pay over the life of the loan.
Upcoming Automotive Events
Advanced Automotive Battery Conference: San Diego, USA, Monday, December 11th - Thursday, 14th December
F1 Roundup
Max Verstappen
Charles Leclerc
Sergio Perez
Max Verstappen secured victory in the 2023 F1 Las Vegas Grand Prix despite a 5-second penalty, triumphing over Charles Leclerc and Sergio Perez. Verstappen's aggressive start and subsequent penalty didn't deter his pursuit, ultimately overtaking both Leclerc and Perez for his 18th win of the season. The race featured dramatic moments, including a collision between Verstappen and George Russell and a late pass by Leclerc to prevent a Red Bull 1-2 finish.
In other race-related news, the troubled Las Vegas Formula One Grand Prix faces a class-action lawsuit on behalf of ticket holders for the canceled practice session due to damage from a loose drain cover, raising concerns about compensation adequacy and impacts on out-of-town attendees.
You can click the video below to see just how dangerous this was for the drivers
This Week in Automotive History
November, 2001 - The Unveiling of the Ferrari Enzo: A Supercar Legend
This week in automotive history, we pay tribute to a momentous day that forever etched the name "Enzo" into the annals of automotive legend. At the prestigious Paris Motor Show, Ferrari unveiled the Ferrari Enzo, a limited-production supercar named after the company's founder, Enzo Ferrari.
Ferrari Enzo
The Birth of a Supercar Icon
The Ferrari Enzo was not just a car; it was an embodiment of engineering excellence and a tribute to the legacy of Enzo Ferrari himself. With its public debut in Paris, this supercar instantly captured the hearts and imaginations of automotive enthusiasts worldwide.
Power and Performance
Under the sleek hood of the Enzo lurked a powerhouse – a 6.0-liter V12 engine that roared with the ferocity of 660 prancing horses. This formidable powerplant catapulted the Enzo to astonishing speeds and performance figures that defied imagination.
Engine
An Instant Icon
The Ferrari Enzo wasn't merely a supercar; it was an icon in the making. Its striking design, breathtaking performance, and a name synonymous with automotive greatness made it an instant legend. It became the embodiment of the Ferrari brand's commitment to pushing the boundaries of what's possible in automotive engineering.
2015 Ferrari Enzo
Legacy of Excellence
Today, the Ferrari Enzo remains a symbol of automotive excellence and a coveted collector's item. Its legacy endures as a reminder of the passion, dedication, and innovation that define Ferrari's rich heritage.
White 2023 Ferrari Enzo (the only one in the world!)
As we celebrate this remarkable milestone in automotive history, we remember the day when the Ferrari Enzo graced the Paris Motor Show stage and forever changed the supercar landscape.
Industry Insights
The UAW's new contract with GM is likely to be ratified with 53% of members voting yes. While this indicates a potential victory for the union, it raises questions as to why some members were hesitant to support a deal that offers significant gains, including compounded wage increases and cost-of-living adjustments. Legacy workers with over a decade of experience seemed to have the most concerns, particularly regarding pensions and wage increases. The close vote may lead the union to reevaluate its strategy and expectations. The UAW's goal is to use such contracts to expand into non-unionized plants at foreign automakers
A study conducted by the Bezos Earth Fund and other nonprofits reveals that global efforts to achieve net-zero carbon emissions by 2050 are faltering in nearly every aspect, except for one: the surge in electric vehicle (EV) adoption. The study analyzed 42 key measures related to climate change mitigation and found that only the rapid growth of EV sales is moving in the right direction. Other critical areas, such as phasing out government financing of fossil fuels and making steel production greener, are not progressing as needed. The report emphasizes the urgency of addressing climate change as officials prepare for climate talks in Dubai.
Thanks for tuning into this week’s TurboTimes. We’ll be back again next week to bring you all the updates on the world of cars.
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