- The Washington Times - Wednesday, December 13, 2006

1995 Ferrari auction slated next week

A 1995 Ferrari F355 Spider will be auctioned off by the U.S. Marshals Service next week. Bid4assets Auctions, an online auction site for forfeited, surplus and tax-defaulted property, is handling the event.

Bidding, which starts at $25,000 for the car, will begin Tuesday at 8 a.m. and end Thursday at 2 p.m. The car will be available for inspection on Tuesday from 10 a.m. to 2 p.m. For more information about participating, visit www.bid4assets.com/usms on the Internet.

Blue Book suggests checking resale value

Buyers should consider resale value when shopping for a new vehicle, say the editors of the Kelley Blue Book.

Depreciation can be the greatest expense incurred by motorists during the first five years of vehicle ownership, they say, and point out that an average vehicle will retain about 35 percent of its original value after five years.

Vehicles with average or below-average resale values generally are plentiful and easy to find. But certain vehicles can be projected to hold their value better than others.

Kelley Blue Book’s Residual Value Guide suggests specific options that help the vehicle retain its value:

• Exterior colors such as black, white or silver

• Equipment including antilock brakes and alloy wheels

• Interior appointments such as a CD player, parking sensors, a navigation system, sensing cruise control and leather-covered seats

“Vehicles that are painted in odd colors and vehicles that have been overly personalized will be desired by a smaller group of people down the road,” says Jack R. Nerad, executive editorial director and executive market analyst with Kelley Blue Book’s kbb.com. “That will negatively affect their resale value.”

In 2003, Kelley Blue Book established its annual Best Resale Value Awards. The 2007 selections are:

• Brand: Honda and Acura (tie)

• Category: Acura TSX for sedan; Honda Civic for coupe; Mini Cooper for convertible; VW Passat for wagon; Mini Cooper for hatchback; BMW 5 Series for luxury; Toyota Tacoma for pickup; Acura MDX for sport utility vehicle; Honda Odyssey for van/minivan; and Toyota Prius for Hybrid

• Top 10 (in alphabetical order): Acura TSX, BMW 5 Series, Honda Civic, Lexus IS, Mini Cooper, Pontiac Solstice, Scion tC, Toyota Prius, VW GTI, and VW Eos

Polar Bear Run set for Jan. 1

The Potomac Area Road Riders will hold their 24th annual Polar Bear Run on Jan. 1

Registration for the motorcycle ride will be at the Sign of the Whale Restaurant in Loehmann’s Plaza shopping center, 7279 Arlington Blvd. (Route 50) in Falls Church from 9 a.m. to 11:30 a.m. The ride will be about 90 miles.For more information, call 703/573-1616, or Ed Bugash at 240/793-2991.

Low-rate loans offered for ‘06 cars

Ford and Chrysler are extending five-year, zero-interest and low-rate loan offers on some 2006 models in order to clear out inventories and make way for 2007, according to the National Automobile Dealers Association. Nearly 30 percent of vehicles sitting on Ford dealer lots are 2006 models. Older inventories account for 45 percent of the vehicles on Chrysler, Dodge and Jeep lots. General Motors’ current discount program runs through Jan. 2.

Find out about giving a vehicle to charity

People wishing to donate a vehicle to charity for tax purposes can still do so, but with a lower limit on the value actually claimed. Until June of last year, donors could cite the industry Blue Book value when giving a vehicle to charity. But the government tightened up its rules.

Now $500 is the most a donor can claim initially. If the charity sells the vehicle at auction for more money, it notifies the donor for tax purposes. Donated vehicles with a value of more than $5,000 require an independent appraisal.

Most important: Donors who want a deduction for a vehicle must get a validating receipt from the charity of their choice.

For more information, call the IRS at 800/829-3676 between 7 a.m. and 10 p.m. weekdays or go online at www.irs.ustreas.gov. Search for “deducting vehicle donations.”

NADA operates donation site

The National Automobile Dealers Association offers an online vehicle donation site as a resource. Internet visitors to www.nadaguides.com can click on the “Donate Your Car” link in the Selected Resources box and fill out basic information and details about the vehicle.

A favorite charity can be selected from a list of more than 200 accredited nonprofit organizations. NADA will assist with the paperwork and pick up a vehicle at a donor’s home or office.

Mail items of interest to Auto Notes, care of Bill O’Brien, The Washington Times Copy Desk, 3600 New York Ave. NE, Washington, D.C. 20002. Or send items of interest via e-mail to [email protected]washingtontimes.com. The deadline is 5 p.m. on the Monday before the date of publication.



Click to Read More

Click to Hide