This week’s top stories feature news of good deals on EVs, a new way to get an auto loan, and a holiday shopping list for car lovers.
- It’s now getting easier to find a good deal on an EV. Previously, EVs didn’t hold their value just a few years after purchase; technology updates — including longer ranges between charges — made prospective buyers nervous. Times are changing. EVs like the Chevy Bolt EV or the Nissan Leaf offer longer ranges — 238 miles and 151 miles, respectively — making them good options for city living or highway driving.
- Dyson — yup, that Dyson, the electric vacuum company — is turning its attention to cars. Sounds unlikely, but Sir Richard Dyson has experience creating electric motors and developing end products that are beautifully designed and very sleek… all of which sounds like the makings of a great electric car. Give it a few years and we may see a Dyson stand at one of the auto shows.
- We know the importance of your credit score when getting a car loan. Starting next year, shoppers will be able to use a new measure, called an UltraFICO score, to secure a loan. This new number focuses on “bank transaction data” like your checking account balance, your transaction history, and recent instances, if any, of overdrawing your account. There are pros and cons to this new measurement. It gives individuals who have a few blemishes on their credit score another way to help them get a good interest rate. But a better score could also mean taking on a larger loan — and auto loans are now stretching to 84 months (or longer).
- November is right around the corner — and that means Black Friday sales and holiday shopping will soon begin. If you’re not sure what to get the drivers in your family, you have plenty of options. For the enthusiasts, there are the Lego versions of supercars or Bond cars and a Hot Wheels track. For techies, there’s Alexa and Bluetooth-enabled gear. For the casual driver, there’s tech to make sure they never lose their keys. There’s an option we would love to add: Patrice Banks’ Glove Box Guide. Banks, who runs the Girls Auto Clinic in Philadelphia, is on a mission to make sure that everyone has the language to explain to their mechanic what’s going on with their car.
- Winter is coming, so you want to find a car that can handle snow. If you’re car shopping, look for extra ground clearance to cut through snow and ice and all-wheel drive to offer extra traction in slippery conditions. To make the most of AWD, make sure to swap your tires for snow tires! And once you find a car you love, make sure to follow these steps to ensure it’s ready for winter.
We’ll be back next week with more stories curated for our readers.