🏎️ How To Safely Buy a Used Car

A Checklist You Can Follow

Author

Turbo Times
September 12, 2023

Welcome Back, Car Enthusiasts to Turbo Times - your gateway to the world of cars!

 

News from The Paddock

Unveilings

Lotus Emeya: The Electric Hyper-GT

Lotus has unveiled the Emeya, an all-electric four-door saloon designed to rival the likes of Porsche Taycan and Mercedes-Benz EQE. With a peak power of 893bhp, the Emeya can sprint from 0-62mph in just 2.8 seconds. The car features advanced aerodynamics, including active aero flaps and a dual-layer rear spoiler. Inside, it offers a 55-inch augmented reality head-up display and a world-class Kef stereo. Production is set to begin in late 2024, with an estimated starting price of around $125,000.

Have a look for yourself below. 👇

Smart #3: The Brand's First Coupe-SUV

Smart is making its debut in the coupe-SUV segment with the new #3 model, designed to rival the likes of the Audi Q4 Sportback e-tron and Tesla Model Y. Featuring a 66kWh battery, the Pro+ and Premium trims offer 268bhp and a range of up to 282 miles. The sportier Brabus model amps it up with 422bhp and a 0-62mph time of just 3.7 seconds. Interior highlights include a high-up center console and an optional 13-speaker Beats audio system. U.S. pricing details are yet to be announced. 

Have a first look at the announcement here 👇

Sale of the Week

 A rare 2014 Mercedes-Benz G63 AMG 6×6 recently commanded an impressive $803,633 in a premium listing. With only 7k miles on the odometer, this German-engineered behemoth is one of approximately 100 examples ever built. It was initially sold as new in Dubai and later imported to the U.S. Under the hood, it boasts a 536bhp twin-turbocharged 5.5-litre V8 engine mated to a seven-speed automatic transmission. The truck also features Designo Mystic White paint and an interior adorned with Designo Classic Red & Black Exclusive Leather. Additional features include a central tire inflation system, Harman Kardon Logic7 Sound System, and front & rear heated/ventilated seats. This sale not only highlights the vehicle's exclusivity but also its unique "show or display" exemption, limiting its on-road use to 2,500 miles per year. The truck now holds a clean Montana title as of September 2023.

Buying Guide

How to safely buy a used car

Navigating the used car market can be a minefield, but knowing your rights and what to look for can make the process smoother and safer. Here's how to ensure you're making a wise investment.

Know Your Rights: Buying from a dealership offers the safety net of the Consumer Rights Act. However, if you opt for a private seller, ensure the car matches its description to avoid falling foul of the Misrepresentation Act.

Inspect and Verify: Never buy a car sight unseen. Always check the Vehicle Registration Mark (VRM) and the Vehicle Identification Number (VIN). These can be found on the registration document, under the car's bonnet, and at the windscreen's base.

Payment Precautions: If you're considering home delivery or click-and-collect, use a credit card for added protection. For in-person transactions, the safest way is to go to the bank with the seller and exchange documents once payment is confirmed.

History Check: Perform a history check to see if the car has been stolen, written off, or has outstanding finance. If the latter, ensure the finance agreement will be settled upon sale.

Test Drive and Insurance Before taking a test drive, ensure you're insured. If you buy, update your insurance immediately to cover the new vehicle.

Pros and Cons of Buying Used Pros:

  • Lower upfront cost

  • Slower depreciation

  • Lower insurance premiums

Cons:

  • Uncertain vehicle history

  • Limited or no warranty

  • Higher maintenance costs

In summary, due diligence is key whether you're buying from a dealership or a private seller. By knowing your rights, inspecting the vehicle, and taking payment precautions, you can make a safe and informed purchase at a much better price.

Nascar Roundup

  1. Tyler Reddick

  2. Denny Hamlin

  3. Erik Jones

As there was no F1 last weekend, we’ve changed lanes this week and swapped over to covering Nascar.

Tyler Reddick took the checkered flag in a thrilling overtime finish at the Hollywood Casino 400, leaving Denny Hamlin, who led 63 laps, to settle for second place. The race was a rollercoaster of strategies and cautions, with the ninth and final caution coming out just six laps before the scheduled end. This shook up the field and gave Reddick the opportunity he needed.

Upcoming Automotive Events

America’s Largest RV Show: Hershey, USA, Wednesday, September 13th - Sunday, 17th September

This Week in Automotive History

This week, we turn the clock back to 1954, when Ford's Thunderbird made its grand entrance. Designed as a counter to Chevrolet's Corvette, the Thunderbird took a different route by emphasizing luxury over sportiness. This strategy was a hit, with the T-Bird outselling its rival by a staggering margin in its first year.

First-generation Ford Thunderbird

But Ford didn’t want to settle. Initially a two-seater, the Thunderbird underwent a transformation to include a back seat, a move that saw its sales soar even higher. In contrast, Chevrolet stayed true to the Corvette's sports car roots, eventually adding a V8 engine to its lineup.

What's particularly fascinating about the Thunderbird is its chameleon-like ability to adapt and evolve. Over its five-decade run, the car underwent numerous transformations, each aimed at capturing the zeitgeist of its time. Whether it was the muscle car era or the rise of retro nostalgia, the Thunderbird always had a variant that resonated with the public. This adaptability not only kept it relevant but also turned it into a cultural icon.

While the Corvette would go on to become "America's Sports Car," the Thunderbird carved out its own niche, undergoing multiple redesigns and iterations until its final production in 2005.

The final edition of the Thunderbird

Today, the Thunderbird stands as a testament to Ford's ability to adapt and innovate, reminding us that there's more than one way to win the race.

Industry Insights

Tesla's stock surged 6% after Morgan Stanley predicted that the electric car maker's Dojo supercomputer could trigger a nearly $600 billion boost in market value. Designed to train AI models for self-driving cars, Dojo is expected to open new revenue streams in software and services. Morgan Stanley upgraded Tesla's stock to "overweight" and set a 12-18 month target share price of $400, which would elevate Tesla's market cap to an estimated $1.39 trillion. The firm also raised its 2040 revenue estimate for Tesla's network services to $335 billion, suggesting that Dojo could be a game-changer for Tesla's long-term growth.

In a remarkable show of market dominance, BYD sold 656 battery electric vehicles in Brazil in August 2023, outperforming the combined sales of all other automakers. The company's diverse vehicle lineup and aggressive expansion plans, including the opening of 100 new stores by year-end and the construction of three new factories, underscore its commitment to leading Brazil's EV revolution. With its Dolphin electric hatchback becoming the country's bestselling EV, BYD is setting new benchmarks in Brazil's rapidly evolving green transportation landscape.

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.

What did you think of today's email?

Rate us below 👇

 

Update your email preferences or unsubscribe here

© Turbo Times

228 Park Ave S, #29976, New York, New York 10003, United States