Latest Auto News Blog: lifestyle

Click above for high-res gallery of new STRUT wheel designs

If you're a STRUT fan, then New Year's is starting off right. The maker of jewelry for your car has released five new wheels in the Icon line: the MS, 11, M, V, and X join others like the Icon D and the Icon 10. The forged aluminum wheels are available in 2- or 3-piece designs, and have five available finishes: chrome, brushed satin, pinstripe, two-tone and carbon fiber. You can even get deep lip versions. But don't even pick up the phone if you can't go at least 20 inches -- the wheels start there, and end at 26. Oh, and they also start at $6,000. It costs money to STRUT, don'tcha know... Strut through the gallery of high-res images to see for yourself.

Gallery: New STRUT Icon Wheel Collection

[Source: STRUT]

Continue reading High Roller: STRUT announces five new wheel designs

High Roller: STRUT announces five new wheel designs originally appeared on Autoblog on Wed, 07 Jan 2009 09:30:00 EST. Please see our terms for use of feeds.

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Filed under: Car Buying, Trends, Lifestyle, Carsumer Advocacy

Just because your car has been repossessed doesn't mean you don't still owe the bank money on it. If that vehicle gets sold at auction for less than the bank is owed on it, the difference is called the "deficiency." And as MSNBC informs, banks are increasingly suing to get that deficiency amount back, plus applicable attorney's fees.

With the increasing cost of vehicles, smaller down payments, and longer loan terms, it is easier than ever to get upside-down on your car loan. Furthermore, banks don't send a repossessed car to auction and work to get the highest price for it. They farm it out to third parties who need to move cars, not hold out for the absolute best deal. Take depressed auction prices into account as well, and it's not hard to end up with a deficiency in the tens of thousands of dollars.

Banks who win deficiency judgments can sometimes garnish wages and force the sale of property, but again, that's only in certain cases. The best ways to ward off a deficiency lawsuit are to get the shortest car loan term you can afford, which will help avoid getting upside-down in the first place. If you still can't manage, try and sell the car yourself, since you'll likely get a much better price than the bank will at auction (and you'll avoid a repo on your credit history). Failing that, bankruptcy should clear the debt as an unsecured loan.

[Source: MSNBC]

PSA: More banks suing even after repossessing vehicles originally appeared on Autoblog on Mon, 29 Dec 2008 17:26:00 EST. Please see our terms for use of feeds.

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