LeaseTrader.com vs. leasing a new vehicle

Posted By on March 3, 2008

Get in Get out
Leasing a car is a popular option when shopping for a new car and it makes sense in some situations. In fact as prices of new cars rise, so do the number of people opting for leasing since the initial monthly outlay is generally lower. According to Motorweek, over 17 million Americans are now in automobile leases. The long running PBS automotive television program offered some advice to those considering leasing and clearly points out the pluses and minuses. Besides the mileage overage charge, which got me in trouble back in the 1990s, Yolanda Vazquez points out that other overlooked costs are the acquisition fee, disposition fee and the “dreaded” early termination penalty.

Leasetrader logoAn interesting option for those wanting out of a lease is LeaseTrader.com, a site that matches up those wanting to save money by opting for a secondhand lease and those needing out of a lease. If you are looking for low cost option, this might be a great place to get a deal from someone willing to “pay you” to acquire their lease? Check out the video clip below.

VW Sharan BlueMotion at Geneva Auto Show

Posted By on March 2, 2008

Sharan BluemotionThe Geneva Auto Show will have another new clean diesel vehicle which would probably appeal to families here in the U.S. — the Volkswagen Sharan BlueMotion. Unfortunately it is headed to the UK later this year with no indication that it is coming to North America. The turbo diesel powered Sharan offers an impressively low CO2 emission number (159g/km) and excellent fuel economy of 45.6 mpg UK — translates to about 38 mpg US.

The Sharan follows standard BlueMotion practice in that its 138bhp two-litre TDI turbo diesel engine has been modified for better fuel economy, while the gearbox has higher than standard ratios fitted. The ride height has been lowered by 25mm and the front cooling ducts have been repositioned, both in the interests of reducing aerodynamic drag.

Securing data on your computer with Truecrypt

Posted By on March 1, 2008

Truecrypt logo

I read a Washington Post story regarding border security measures which allows for searching hard-drives of someone’s computer entering the United States. Its a sensible approach to border security, but what will they find if someone wants to protect their data? Is there a way to still secure information? John Sawyer from the University of Florida IT security team wrote:

One method that I’d be willing to try is encryption, using the free, open-source tool, TrueCrypt. TrueCrypt creates an encrypted volume for storing sensitive information. The newest version — released last week — added support for Mac OS X (it already supports Windows and Linux). Applications like Firefox could even be run from the encrypted volume so that all browsing history and cached files would be encrypted. A key feature of TrueCrypt — in contrast to full disk encryption, which is visible when the computer boots — is that the TrueCrypt volume can’t easily be detected. It just looks like random data.

Since I already use Truecrypt on my VistaOS notebook, I attempted to create the hidden volume inside the fully encrypted volume mentioned by Sawyer. It worked like a charm and was a cinch. (HMM … cinch … that will be a post for tomorrow)
encrypt
Here’s how it might work if someone was to have their sensitive data stored on their hard-drive with this ‘hidden volume encryption’ method. When a border agent (or thief) opens your computer they will request your login and expect that you would allow access. (easy enough to access the data on your hard-drive even without the login so that’s not really security) The agent would then detect the encrypted data volume and see the truecrypt files (.ts) and software — and again a request would be made to access this encrypted data. You would offer the password and access to this encrypted volume and it would mount revealing your data, BUT not the hidden encrypted volume inside which holds the information you want to protect. The beauty is that outside of a polygraph, there is no way to determine if you used this hidden volume inside the Truecrypt encrypted volume.

I also installed the newly released Macintosh Truecrypt software, but I noticed it doesn’t offer a hidden encrypted volume option … yet. (only the single encrypted volume)

Porsche to offer 300HP diesel Cayenne in 2009

Posted By on February 29, 2008

Porsche CayenneFor those of you with a taste for performance AND a sport utility vehicle that could use some biodiesel, checkout the diesel version of the Porsche Cayenne expected in 2009. Industry analyst Peter Schmidt indicated the the primary motivation for the diesel Porsche Cayenne is the cost of fuel and improving emissions in diesel technology. The engine fitted into the Cayenne will be an Audi built 3.2 liter twin turbo V6 and Automotive News Europe states that this 300 HP SUV will return about 30 mpg. (no indication whether this vehicle will make it to North America in 2009) See MotorAuthority article.

President weighs in on renewable fuel & $4/gallon

Posted By on February 29, 2008

President BushIn a press conference on Thursday, President Bush referenced his administration’s heavy investing in renewable fuels and the problem this expansion creates as it competes for food crops (particularly corn based ethanol). The President stressed that we also “need more oil and gas exploration and for less money to be spent on foreign oil.” These remarks came as some areas of the United States have seen pump prices hit $4.00 per gallon. Its possible with summer around the corner that prices could go even higher, and this could make an already sluggish economy more vulnerable to recession. We can only hope that the Federal Reserves interest rate moves and the tax rebates headed in our direction this May will make a difference. My concern is that this extra cash will be spent on foreign oil or credit card debt and that this will leave very little tax rebate left to stimulate the American economy. (segment of the press conference below)

New Audi TT with a TDI; Roadster too

Posted By on February 28, 2008

Audi TT 2.0L TDI
Wired highlighted the new Audi TT 2.0 TDI, but can’t confirm if it will be available North America. Notice the comment “Roadster” below … might we see a TDI convertible? (LINK to full article)

Behold the TT 2.0 TDI. The 2.0-liter four-cylinder engine (pictured above), matched to a six-speed manual transmission and Quattro all-wheel drive, is good for 167 horsepower and 258 pound-feet of torque — enough to prod the coupe to 60 mph in about 7.4 seconds (7.6 for the slightly heavier Roadster) and on to a top speed of 140 mph (138 mph for the Roadster). Perhaps more noteworthy than its performance, however, is the diesel TT’s meager appetite: Audi is claiming 44.4 mpg for the coupe (42.8 mpg for the Roadster).

2008 Honda Clarity with video from Motorweek

Posted By on February 27, 2008

Honda Clarity
As previously posted, the the hydrogen powered Honda FCX Clarity is a ‘realistic looking’ automobile, aside from it need for hydrogen. (infrastructure problem) It will be on the roads as a ‘lease only’ vehicle in southern California for about $600/month. (limited availability) This includes regular maintenance and insurance so the number might not be as high as it appears. Nevertheless, it is good to see companies moving ahead with different competing alternatives to petroleum. I wouldn’t mind having a natural gas to hydrogen generator in my garage IF it were economically feasible. The Honda Clarity design might be just about right as a family commuter car and daily driver and it would be nice not to be pumping petroleum or emitting pollutants.

Here’s a video clip from Motorweek which aired last weekend.

Political deluge in Southwestern Ohio

Posted By on February 26, 2008

Barack ObamaHillary Clinton, Barack Obama, John McCain and Mike Huckabee were or are speaking Monday and Tuesday in and around Cincinnati Ohio. I could barely contain myself watching the local news interviewing those showing up to listen fawn all over Barack Obama in Cincinnati on Monday. One lady said the “tears just flowed” as Obama walked onto the stage. She said she couldn’t ‘t control her tears as the crying contagion spread from one woman to the next. (good grief)

John McCain Ready from Day One
North of Cincinnati might be interesting on Tuesday, as both Sen. John McCain and Gov. Mike Huckabee will be speaking. Huckabee will be at the Great Wolf Lodge in Mason (by Kings Island) at 4:30PM and Senator McCain will be at BAE/Armor Holdings Company in West Chester at 2.45PM.

Since I mentioned Gov. Huckabee, this will probably be a great place to include last weekends Saturday Night Live clip … he is hilarious.

Credit Reports, Credit Scores & Credit Bureaus

Posted By on February 25, 2008

Credit Report Graphic
Having dealt with an identity theft issue about 5 years ago, I’ve been a bit more attentive to what is being reported on my credit report. Once a year around tax time I pull my own credit report and review the items being reported. (haven’t opted for a ‘pay for’ monitoring service just yet) This year I notice an incorrect out of state address and a credit card that I didn’t recognize — once again its time to clean up. Have you checked your credit report and score recently?

FreeCreditREport.com
Suggestion: Pull your credit report from Equifax, Transunion and Experian. (or use a free credit reporting services to get a report)
ExperianThen review each of the entries and confirm that the addresses being reported are yours. If there are legitimate concerns in regard to reporting from banks or credit sources, first contact the company to try and clear up the issue. You might also report the disputed information with the credit bureaus metioned above, although it is a convoluted process that in my case didn’t correct the issue. (except for the wrong address)
EquifaxAnother frequently ‘talked about’ component of your credit report is the “credit score.” This maybe the single number that you are attempting to bolster, or correct.
TransunionAccording to DebtGuru writer Michael Peterson, “a credit score is sort of like your adult version of a report card. It tracks your performance in incurring debt and paying your bills on time. You want a high score, because it shows that you are responsible about your finances and can be trusted to repay loans.” I see it more like a SAT or ACT score for admission in to college. It will either open or close the door to credit and is even being used to influence decisions like renting apartments or getting basic utility services!

How is my score calculated?
Your score may be different at each credit reporting agency, since the information they have on you may differ, or the statistical pool they are drawing from may be different. But they all use the same software to generate your score. You may hear your credit score referred to as a FICO score. That is because most scores are determined using software developed by Fair Isaac and Company.
What determines my score?
Your credit score is not concrete. It ebbs and flows like the tide, changing whenever you pay a bill on time or late, apply for new credit card or take out a loan. Your score is based on your credit history, and it attempts to predict what your credit behavior will be like in the future.

According to Peterson, the calculations for your credit score are based on statistical data and are objective evaluations. “You get points based on various credit factors. A creditor takes all of the information on your credit report, compares it to the statistics of people with similar profiles, and grants you points based on factors that predict creditworthiness such as outstanding debt, payment history, late payments, or the age of your accounts. Your total number of points reflects how reliable you are–how your past behavior suggests how likely you are to pay back a loan or pay your bills on time.”

I’m old enough to also have a bunch of items that might be smart to clean up and so decide to eliminate a few credit and store charge cards that were opened for one reason or another. For example, I had a bookstore credit card, a Brooks Brothers store card and an Old Navy revolving card that were only used for the initial discount. (ie. 10% off or something at the time of purchase) These were not being used and this was a good time to call and cancel them. Beside decreasing my exposure to fraudulent use, it should also help as it relates to credit score. Another suggestion from the experts is not to apply for additional new credit, especially unneeded credit or store cards. Reducing your balances is another way to improve your credit score, besides reducing credit debt is probably something that would be wise for all of us. Experts also recommend that you should try to reduce the number of credit cards you do use, and that keeping the ones you’ve had the longest tends to improve your credit score. And finally, have a long and clean credit history is a positive and does calculate into higher scores.

If you do go through the dispute process in an attempt to clear a negative item and it doesn’t go in your favor, you have the right to add a permanent statement to your credit reports which explains the nature of the inaccurate information. In this case the questionable information is not removed, but it is at least explained and must be included. (it is required by law)

What is the best score?
If you have a 760 or above, consider that an “A” on your credit report. You will get the best credit rates. Above 700, a “B”. Between 600 and 700, a “C”. Below 600 is a big “D” or even an “F” and you will almost surely have to pay higher interest rates with a grade like that.

Fuel prices up close to record highs

Posted By on February 23, 2008

Demand for fuel is down, but prices are up to a near all-time high in the U.S., says a USAToday article. Diesel hit a record high of $3.54 per gallon, and unleaded gasoline is up to a $3.11 national average price, which is an increase of more than 6.2 cents in two days. The previous record of $3.22 was in May 2007.
Cinci to OrlandoWhile doing a few calculations, it might even save a few bucks to fly from Cincinnati to Orlando rather than drive … if you consider the cost of miles on an automobile. Here’s the Triple-A Fuel Cost Calculator (below) using our Honda Pilot as compared to a Delta Airlines flight.

Cinci to Orlando

Desultory - des-uhl-tawr-ee, -tohr-ee

  1. lacking in consistency, constancy, or visible order, disconnected; fitful: desultory conversation.
  2. digressing from or unconnected with the main subject; random: a desultory remark.
My Desultory Blog