Sign-up and post on Iberkshires today.It's Free!
Already a member? Log In
43°  H- 70%
The Berkshires online guide to events, news and Berkshire County community information.           
Friday November 20, 2009
 Make us your homepage!
 

What's Playing


The Drury Drama Team presents "Dracula" on Thursday-Saturday, Nov. 19-21.

If you don't know who these guys are, just stay home.


'Pirate Radio': Good Movie Ahoy, Mateys
Movie schedules and times

Bazaars

Nov. 21

St. Stanislaus School benefit, 9 to 4 in Kolbe Hall, Adams. Bake sale, snack bar, games, Chinese auctions, money raffle, crafts, and pierogi.

Blackinton Union Church, 1373 Massachusetts Ave., North Adams; 10 to 2. Crafts table, bake sale, Chinese auction, the Christmas table, and kid's grab bag. Lunch $4, $2 kids.

First Congregational Church, North Adams, 9-2.

Nov. 28

Becket Federated Church
, Route 8, holiday bazaar from 9-3. Lunch, crafts, baked goods, holiday and other items. Information: Mary Peltier, Parish House, 413-623-5217.


Dec. 5

Holiday Fair at First Congregational Church, 25 Park Place, Lee, from 10 to 3; handcrafted items, raffles, children's shop, bake sale, cut Christmas trees and lunch from 11 to 1. Includes angel-themed goods from SERRV. Information, 413-243-1033 or www.ucc-lee.org.


Dec. 12-13

North Adams Country Club, crafts 9-4; food from That's a Wrap from 11-2. Information: Sheryl Morehouse at 413-822-3329.

Planning a bazaar this season? Submit information to info@iberkshires.com to have it listed here.

Sales Fliers

 
 

Daily Digest

Hooray for Vermont's Sanders and his battle against credit card companies.
How Much is Heating Oil this Week?
It's breaking $2.50 but still cheaper than gas.
Clarksburg Crime Watch Signs



We're trying out blogs to offer shorter, easy-to-find news. Let us know what you think.
Send press releases and announcements to info@iberkshires.com. Need to contact someone at iBerkshires? Here's how.
Mammography Dispute
The government's issued controversial new guidelines stating that women shouldn't get annual mammograms until age 50, rather than age 40.

iBerkshires will be meeting with local medical experts Monday. Have a question you'd like answered on this issue? Send it info@iberkshires.com with "mammogram" in the subject line.

Obituaries

Paul Sandler, 64
Robert J. Heideman, 73
Carol V. Vallieres, 75
More obituaries

Sports

Williams College Men's Basketball Season Outlook
2009 MIAA Girls Soccer - State Division 2

Final: Wahconah vs Cardinal Spellman
Date / Time: 11/21/2009; 3:30pm
Location: Foley Stadium, Worcester
MCLA Picked Last in Men's Preseason Coaches Poll

Media Partners

Berkshire News Network (WNAW;WUPE)
WJJW Charlie in the Morning

Election


Trying to remember who won what and why? All the information is right here.

 

 Search: 
 for    
Enter a long URL
to make tiny:


Related Stories

 
Printer Friendly Version
   Recommend this story to a friend

The Independent Investor: It's a Great Time to Buy a Car

By Bill Schmick
iBerkshires Columnist
07:18PM / Thursday, May 28, 2009

Bill Schmick
General Motors teeters on the edge while Chrysler has already entered bankruptcy court. Vehicle sales worldwide are down 30 to 40 percent and the global recession continues unabated. 

Yet, now is the time you should be shopping for a car or truck. If you can afford it, chances are you will bag a great deal.

Whether you are looking for a domestic or foreign car, the average price for such vehicles is down almost 3 percent in the last six months. At the same time cash-back incentives have risen by almost the same amount. We're talking an incremental $2,500 or more in savings. In the meantime, financing has never been cheaper with record-low rates offered over a wide range of vehicles.

Last year, the number of dealerships closing reached 960 and the National Automobile Dealers Association is predicting an additional 1,200 by the end of this year. Now that Chrysler and General Motors are also reducing the number of franchise dealerships across the country, consumers can expect an excess supply of cars and trucks that dealers would like to move off their lots as soon and as fast as possible. 

Richard King, owner of McAndrews-King, Pontiac, Buick, and GMC Truck in Adams, has been doing business in the Berkshires for 36 years. He agrees that consumers can get really good deals right now.

"We are hungry, no doubt about it," he says, "and most dealers are paying more for used cars as well."

King found the last couple of weeks uncomfortable at best as General Motors sent over 1,100 letters to dealerships nationwide who received non-renewal letters ending their franchise status. Those who received these letters have until October of next year to come up with a new game plan if they want to survive.

"We have a superior rating from GM so, although we weren't worried, it was still torture waiting not to get a letter," King said.

Unfortunately, Dave Barden, owner of Rosetti Chevrolet LLC in Chatham, N.Y., was not so lucky.

"Yeah, we got a non-renewal letter," Barden said, glumly.

Barden, who has been in business since 1993, plans to close next month.

"I'm about retirement age," he said, "so I guess that's what I'll do, but I feel sorry for all those people around here who are going to have to drive to Berkshire or Greene County to get their cars serviced."

Fortunately, Barden can resell his GM vehicles back to the company but many of the closing Chrysler dealerships are not so lucky he says.

"It is true that most everyone is discounting deeply just to get the cars off their lots," he explained. "But some of the Chrysler guys are discounting an additional $2,000 to $3,000 off already deeply discounted prices plus rebates."

Although this summer will be an ideal time to pick up a bargain, I suspect the good times won't last.  Auto companies have already cut production substantially and at some point soon supply and demand will come back into equilibrium. And remember, the auto companies won't be in bankruptcy forever. Chrysler is already rumored to be on the short end of its 30-60 day period of reorganization outlined by President Obama just two weeks ago. A healthier Chrysler, combined with their new partner, Fiat, may mark the end of distressed sales at least among their particular auto lines.

Some believe if GM follows Chrysler into bankruptcy it may take longer to emerge. GM is a much larger company with worldwide operations and almost a dozen governments involved in their operations. GM's bondholders have also been reluctant to accept a deal. However, on Thursday there seemed to be a breakthrough with holders now ready to accept stock for some of their bonds.

There is also talk that the U.S. government is prepared to inject another $50 billion into the company, which would bring the taxpayer ownership to 70 percent or so. Negotiations will continue through the weekend with the government's imposed deadline expiring on Monday. 

Whatever happens, GM too will emerge from bankruptcy or some other kind of reorganization a much cleaner, healthier company without the overhang in inventory they have now. So don't count on continuing distress out of Detroit to keep these deals around for more than a few months.

So how do you find the best deals? In this age of internet, consumers can surf the net and comparison shop. Some Web sites such as Cars.com, msnautos.com and edmunds.com provide buyers with a wealth of information including cash-back and discounts that dealers are offering. There are also sites that will give you an idea of what your old clunker might be worth on a trade-in.

Still, Richard King reminds us that price isn't everything.

"Anyone can sell you a car but not everyone can service them," he argues, explaining that he has spent a fortune building an outstanding service center. King, like other successful dealers around the region, will survive and thrive through this downturn but, in the meantime, are more than willing to give their customers a deal when they can. And right now there are deals aplenty.

Bill Schmick is a licensed investment adviser representative as well as a registered financial consultant. All views and opinions expressed by Bill in his columns are strictly his own. Direct your inquiries to him at 1-51... or wschmick@fairpoint.net. You can also visit www.afewdollarsmore.com for more of Bill's insight.
Your Comments
Post Comment
There no “good time” to buy a new vehicle, it’s a loss leader from the day you take possession. A car is for transportation, to move you from point A to point B and to trade a vehicle in just to get a new one is the silliest idea ever pulled on the purchasing public. There is no such thing as equity when it comes to trading in your vehicle. If you have a paid for car and its in decent shape keep it until it will run no longer, you will have saved thousands. The only exception to this rule is if you dump a high gas burner for an economy unit. Bur even then the fuel saving must be good enough to pay for the car in six years.
from: There no “good time” to buy a new vehicleon: 05-29-2009

I agree with Ric that service is important but getting a great deal also helps and the Credit Union has great rates on new car loans.
from: Rachael Linskion: 05-28-2009

McAndrews King has the best service department in the county. I also agree with Mr Schmick that it is a great time to get a great deal on a great GM or Chrysler product.
from: Roger Franklinon: 05-28-2009



Top Stories...
Beacon Cinema Opens in Pittsfield
PITTSFIELD - "It is the crown jewel of the revitalization of downtown." — Mayor James M. Ruberto
New Moon Mania Hits Berkshire Mall
LANESBOROUGH - "The first 'Twilight' movie did very well so we were expecting good crowds not only...
The Independent Investor: Mutual Fund Fees: Why Should...
NORTH ADAMS - From the institutional investor's point of view; when you buy in bulk, no matter what...
St. Stan's Vigilkeepers Keep Spirit of Parish Going
ADAMS - "We're here indefinitely." — Laurin Zepka
New Moon Rises for North Adams, Pittsfield Theaters
NORTH ADAMS - That's good news for people looking for the first-run blockbusters that fuel the holiday...


iBerkshires.com Text Ads
iberkshires.com
www.iberkshires.com
Wedding of your Dreams!
Select from our appealing dinner menu - up to three entrée choices. With salad, potato, & vegetable
www.ateffinejeweler.com
Advertise on iBerkshires.com



Essentials
Berkshire Nightlife
Berkshire Photos
Berkshire Wallpaper
Class Reunion Page
Columnists
Dannyoart.com
Get Lunch Specials
Home & Garden
Movie Times
Obituaries
Randy Trabold
Weddings

Enter your email address below to receive our FREE iBerkshires.com Newsletter

| Home | A & E | Automotive | Business | Community News | Dining | Lodging & Travel |
| Real Estate | Schools | Sports & Outdoors | Berkshires Weather | Berkshires Map |
Advertise | Recommend This Page | Help
Contact Us | Privacy Policy| User Agreement
Execution Time: 588 ms