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Penske Automotive Group

General

Should I Lease or Finance My New Car?

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When the time comes to purchase a new vehicle, you are definitely going to have some decisions to make. Deciding whether to lease or finance is a little bit easier when you consider the following factors.

The Overall Cost
Ultimately, financing a car is going to cost you more money in the end. You are buying the car, so you will have to make monthly payments until the entire cost of the car is paid off. With a lease, you are making payments for a shorter amount of time, and you are not paying the entire price of the car. You can generally make lower down payments with a lease as well.

Getting Approved
Speaking of the cost, you also must determine which plan you are more likely to get approved for. Of course, applying for pre-approval can give you a decent idea of the cost. In most cases, getting approved for a lease will be a little bit easier than obtaining approval for financing. Since you do not need to pay as much money overall, the restrictions are usually not as strict.

The Amount of Miles
You own the car when you have a finance agreement. Barring any extenuating circumstances or specific programs, you should not have a limit on the number of miles that you can drive each year. However, with a lease, these limits are common. The limits are usually rather generous, and you can often negotiate for more so that they are not too constricting. Still, if you have a job that requires you to drive many miles on a regular basis, a lease just might not be an option.

How You Use Cars
If you are a person who tends to go through cars in rapid succession, then a lease is probably a better choice for you. Many lease agreements last for 36 months, so at the end of that time period, you will be free to purchase or lease a new vehicle. If you want to hold on to your car until it grows old, choose to finance your car.

Choosing whether to lease or finance your car is definitely a topic that you want to think about. A car is a huge purchase, and a rash decision could lead you down a path that you do not want to go financially.

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General

Keeping Your Tires Up To Speed

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It goes without saying that it is important to properly maintain a vehicle. Not only does it increase the overall life of the vehicle, it fills the owner with confidence knowing that the vehicle is well-kept. With that said, one of the most crucial parts of a vehicle is its tires. The four tips below will help keep your tires in good shape and ensure that they last until its advertised lifespan.

1. Tire Pressure

One of the most overlooked vehicle care tests is checking the tire pressure. When tires aren’t properly or evenly inflated it can affect multiple aspects of the driving experience. Dipping gas mileage, poor handling and uneven tire wear can occur if you don’t check your tire pressure often – at least every two weeks. Buy a tire pressure gauge and consult your vehicle’s manual for you tires’ proper inflation rate, and make sure your tires stay there.

2. Balance and Rotation

It is vital to balance and rotate the tires, yet many drivers go without doing this either. Tires suffer from damage when they gain exposure to several road conditions, and one side of the tire may change. Rotating the tires on a frequent basis – every 12,000 miles – will allow the tires to wear equally, increasing the longevity of the tires. Maintaining tire balance will keep your vehicle running smoothly at highway speeds.

3. Visual Inspection

Many drivers do not take the time to inspect their vehicles. We sometimes get so busy that months go by before we notice a scratch on the rear passenger-side door. A quick visual inspection every couple of weeks can keep you up-to-date on the condition of your vehicle’s tires. The last thing anyone wants to do is drive on a bald tire. Not only is it unsightly, it’s also unsafe.

 4. Talk to a Professional

As with any issue you experience with your vehicle, if there is something you are unsure of or need help with, you can always go to a professional. When it comes to your tires, no issue is too small to seek help. Tires play a crucial role in the overall performance of a vehicle. Something that goes overlooked not only could decrease the longevity of your tires, but it could also be a safety hazard.

The four tips above will help drivers stay smart and stay safe in the heavy driving season of summer.

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General

Logano Conquers the Monster Mile at Dover

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THE RACE 

5-Hour Energy 200 at Dover International Speedway (1-mile speedway, Dover, Del.)
June 1, 2013

THE RESULTS

The No. 22 Hertz Ford Mustang
Start Position: 6
Finish Position: 1
Status: Running
Owner Points Position: 3

THE RACE REVIEW     

· Joey Logano qualified the No. 22 Hertz Ford Mustang in the sixth position for Saturday afternoon’s race at Dover International Speedway.

· Over the first 30 laps, Logano moved his way from sixth to third, fighting a car that was loose on corner entry and tight in the center.

· Following the second round of pit stops, Logano took the lead for the first time on lap 53 after a solid stop by the No. 22 Hertz team.  Logano led the next 29 laps.

· The race turned into a pit strategy event. Logano continued to run up front, but often fell behind other cars that were taking two tires when Logano and crew chief Jeremy Bullins called for four.

· The rest of the afternoon, Logano never ran worse than third.

· Logano came into the pits third on lap 163. A quick call by Bullins to take two tires got the No. 22 Ford out first.

· When the green flew, Logano was able to pull away from the field, leading the final 37 laps en route to his first NASCAR Nationwide Series victory of the season.

· The win, Logano’s 19th-career Nationwide Series triumph, was his third-straight at Dover. Logano won both races at the “Monster Mile” last season.

· The win was also Logano’s first at Penske Racing and first behind the wheel of a Ford Mustang. It was also Ford Racing’s 199th NASCAR Nationwide Series victory.

· With the win, Logano moved the No. 22 car within eight points of second-place in the NASCAR Nationwide Series Owner’s Point standings.

WHAT THEY ARE SAYING 

HOW DOES IT FEEL TO FINALLY WIN AGAIN?

“It feels great. I want to say I wish it wouldn’t have taken this long, but this is just our fourth race of the season and we’ve been able to finish in the top-five every race so far. But it’s pretty awesome to get another win here and to get my first win racing for Roger Penske. All you have to do it look at the list of drivers that have won driving for Roger and to know that your name is on that list now is pretty amazing. Then to have Hertz on board with us and win in their first race on the car is pretty awesome as well. It just doesn’t get much better than that. Three in a row at Dover is a pretty amazing accomplishment.”

HOW KEY WAS THAT LAST PIT STOP?

“It was everything. I didn’t really know we were going to do two tires until Jeremy (Bullins, crew chief) told me to go over the radio. But he knew what he was doing. He knew if we got out first and enough other guys had two tires, we had a shot. I don’t know if we had the best car here, but we had one of the two best cars for sure. But you have to take them how you get them. We put ourselves in position to win the race and that’s what we did. I’m really happy for Hertz, Penske and all of the guys on the team. Now we need to use the momentum and get our second next week.”

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General

How to Clean Your Vehicle

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Regular washing is the best way to protect a car’s finish and to ward off rust. Air pollutants, road salt, bird droppings and other contaminants can break down a vehicle’s protective coating, leaving a dull surface that is vulnerable to corrosion. With a few basic supplies, and a little effort, a car owner can keep a vehicle’s new shine for years to come.

To wash your vehicle, select a day with no rain in the forecast and work in a location out of direct sunlight. Throughout the process, the car must remain wet to avoid spotting. Select a detergent specifically designed for auto surfaces. Dish soap, which is designed to cut through grease, can strip away car wax and damage rubber trims. Use microfiber or chamois cloth, or a microfiber cleaning mitt, as regular terry cloth towels do not pick up dirt, instead they just push the dirt around.

Pre-treat baked-on grime, bugs, and tar with undiluted car wash soap. A spray bottle works well for this step. The wheels tend to gather the most dirt and dust. They will need to soak for about 15 minutes. An accumulation of brake dust, which is normal with semi-metallic brakes, may require a special product designed for cleaning wheels. Give the vehicle a preliminary rinse to remove loose dirt particles that could scratch the surface. Open the truck and hood to remove dirt and leaves that may have lodged in the seams, and clear any debris from the windshield gutter beneath the wipers.

Fill a bucket with water and add the recommended amount of car wash soap. Fill a second bucket with water to use for rinsing the cleaning cloth or mitt. Having this second bucket prevents the soapy wash water from becoming contaminated with dirt.

With the soapy water, wash a small section of the car; rinse out the cleaning cloth with the clear water, then load the cloth up with soapy water to wash the next section. Start from the top of the car and work down to the rocker panels and bumpers. Do not scrub hard, as this will grind any loose dirt into the car’s finish and create scratches.

After the entire car has been soaped, give it a final rinse with a gentle stream of water from the hose, beginning at the top of the car and working down. To prevent water spots, dry the car with an absorbent chamois or microfiber cloth. Drag the cloth over the vehicle surface to absorb the water, then dry crevices with a microfiber towel. Be sure to dry doorjambs and the areas under the hood and truck lid.

Ideally, a car driven daily should be washed once a week. This simple process will help a vehicle retain value, protecting the car owner’s investment.

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General

Castroneves and Power Both Lead Team Penske Qualifying

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Team Penske came up just short in its pursuit of the Toyota Grand Prix of Long Beach pole position Saturday, but if recent history is any indication, the team will be in prime position for a race victory when the green flag flies.

Teammates Will Power and Helio Castroneves both qualified for the Firestone Fast Six, with Power earning a third-place starting position and Castroneves securing a sixth-place starting spot. AJ Allmendinger had the ninth-fastest lap in his group during the first qualifying round and will start 14th on Sunday.

Power, the defending Long Beach race winner, was clocked at 67.3987 around the 11-turn, 1.968-mile circuit in the No. 12 Verizon Team Penske Dallara/Chevrolet. Power unfortunately was unable to record his planned fast lap as the checkered flag flew before he could start his third lap in the Firestone Fast Six.

“Yeah, it was good, obviously, to get to the Fast Six, and then just how qualifying is at the moment. We got caught out at the end there,” said Power, who managed to win the race from a 12th-place starting position in 2012 despite qualifying second when he and the other Chevrolet drivers took 10-grid spot penalties after changing out engines. “Tim (Cindric) came over the radio and said that you’re barely going to make one more lap. I thought he meant fuel, not time, but it was time. So I got to the start of my last lap, and it was checkered flag. But still, I’m happy with third.”

The current IZOD IndyCar Series championship leader, Castroneves turned a lap of 67.9698 in the No. 3 Auto Club of Southern California Team Penske Dallara/Chevrolet. The three-time Indianapolis 500 winner has now qualified eighth or better in his last four races at Long Beach.
“We made some adjustments to the Auto Club Team Penske Chevrolet between the sessions today and improved quite a lot,” said Castroneves, who won the 2001 Grand Prix of Long Beach from the pole. “It’s a shame because I felt that I had a better car than sixth. I’m not complaining, being top six is great, but I just want to make sure we get everything we can out of the car because it is so competitive here.”

Allmendinger, in his second race driving the No. 2 Penske Automotive Dallara/Chevrolet, had a fast lap of 1:09.2001 in the first qualifying session.

“Tough day for the No. 2 Penske Automotive Chevrolet,” said Allmendinger, who competed at Long Beach three times previously and recorded a top-10 finish in 2005. “We thought we had the car in a pretty good place going into qualifying but unfortunately I wasn’t able to get out of it what I needed. I know that Will won the race last year from 12th so that gives us some hope that we can move up through the field tomorrow and hopefully be competitive.”

Power, who also won the Grand Prix of Long Beach in 2008, will start inside the second row and alongside Takuma Sato and behind polewinner Dario Franchitti.

“It’s definitely a good starting position,” said Power. “I look for a good, solid race again tomorrow in the Verizon car.”

Sunday’s 80-lap Grand Prix of Long Beach is scheduled to begin at 4:45 p.m. ET with NBC Sports Network coverage beginning at 4 p.m. ET.

[Source: PenskeRacing.com]

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General

Quicken Loans to Sponsor Team Penske in 2013

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Team Penske today announced that Detroit-based Quicken Loans Inc., the nation’s largest online mortgage lender and third-largest mortgage lender in the country, will join the team’s IZOD IndyCar Series racing efforts as a sponsor beginning in 2013.

As part of the new multi-year agreement, Quicken Loans will be featured on the cockpit of both the No. 3 Team Penske Chevrolet IndyCar driven by three-time Indianapolis 500 winner Helio Castroneves and the No. 12 Verizon Team Penske Chevrolet machine driven by three-time series road course champion Will Power. This marks the return of Quicken Loans as a sponsor of Team Penske. During the 2003 season Quicken Loans was a sponsor of the team that saw Gil de Ferran earn the 13th of Team Penske’s record 15 Indianapolis 500 victories.

“We are very excited to have Quicken Loans back as a partner of Team Penske,” said Penske Racing President Tim Cindric. “Quicken Loans’ remarkable record of success and growth makes it a great company to be affiliated with and we look forward to building our relationship in the future.”

Quicken Loans has also been announced as the presenting sponsor of the IndyCar doubleheader race weekend at the Chevrolet Detroit Belle Isle Grand Prix. The Chevrolet Indy Dual in Detroit presented by Quicken Loans will feature the first IZOD IndyCar Series races held on back-to-back days next season – June 1-2, 2013 at Detroit’s redesigned Raceway at Belle Isle Park street circuit.

“As a Detroit-based company, we are looking forward to partnering with Roger Penske, who has a tremendous legacy in our hometown, as well as his amazing race team,” said Jay Farner, President and Chief Marketing Officer for Quicken Loans. “Through this sponsorship we are aligning ourselves with great drivers and great people, and in the case of the Belle Isle Grand Prix, doing great things for the city of Detroit.”

About Quicken Loans Inc.
Detroit-based Quicken Loans Inc. is the nation’s largest online home lender and the country’s third largest retail home mortgage lender. The company closed a record $70 billion of volume across all 50 states in 2012. Quicken Loans generates loan production from web centers located in Detroit, Cleveland and Scottsdale, Arizona. The company also operates a centralized loan processing facility in Detroit, as well as its San Diego-based One Reverse Mortgage unit. Quicken Loans ranked #1 in customer satisfaction among all home mortgage lenders in the United States by J.D. Power and Associates in 2010, 2011 and 2012.

Quicken Loans has ranked among the top-30 companies on FORTUNE Magazine’s annual “100 Best Companies to Work For” list for 10 consecutive years. It ranked in the top-15 of Computerworld magazine’s “100 Best Places to Work In Technology” for eight years in a row, ranking in the top-5 in 2012. The company recently moved its headquarters and more than 7,000 of its 8,000-plus team members to downtown Detroit. For more information about Quicken Loans, please visit quickenloans.com, on Twitter at @QLnews, and on Facebook at facebook.com/QuickenLoans.

About Penske Racing
Penske Racing is one of the most successful teams in the history of professional sports. Competing in a variety of disciplines, cars owned and prepared by Penske Racing have produced 365 major race wins, 423 pole positions and 24 National Championships, including the 2012 NASCAR Sprint Cup Series title. The team has also earned a record 15 Indianapolis 500 victories in its storied history. For more information about Penske Racing, please visit www.penskeracing.com.

[Source: PenskeRacing.com]

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