"Searching for a used car can be a significant chore. Hours are spent searching websites like craigslist and Cars.com without getting any closer to a decision. Most people want to find the ideal car that fits their lifestyle and budget, but they just don't know where to start. Fortunately, it is now possible to find an ideal car in three easy steps, using resources available to every car buyer.
First, Narrow Down Needs
The first thing to consider as a used car buyer is just what needs the car has to meet. Do you care more about raw power or high miles-per-gallon? Does the car need room for groceries or a car seat? Are head and legroom a concern? Answering these questions early on will keep you from buying a sweet ride that turns into a headache when you take it home.
Just as important is figuring out how much you can comfortably spend without borrowing money. A new car's value typically decreases 15-20% in the first year, and 10% per year for the following four years. Borrowing money and taking on payments to buy something that is going to decrease in value over time is usually not a good plan.
Some say that new cars make sense because they come with warranties and/or low dealership financing. The simple fact is, neither of these will come close to making up for the 50% depreciation in the first few years, especially if you make sure to check the car out before buying.
Second, Work Out "Wants"
Once the universe of vehicles has been narrowed down to the ones that meet a buyer's needs, the next step is to do some side-by-side comparisons and decide which they actually like. Unfortunately, since every used car is unique, it can be hard to make apples to apples comparisons. However, since models rarely change drastically from year to year, it can help to to visit a dealer's lot and check out some new models. Even when planning to buy used, this is a good way to quickly weed out cars (or whole classes) you just don't like. Visiting the lot allows you to actually see the vehicles in person, sit in the driver's seat, feel the legroom in the back, et cetera - things you just can't get from a written review.
The advice of the car dealer is another good resource, but do make it clear that you are only narrowing things down and have no intention of buying right away. That way no one's time is wasted.
Since only so much time can be spent on the lot, some comparisons can also be done at home. Use Google Image Search to search for models that interest you and find multiple different perspectives of their interiors and exteriors. That way even if you can't feel the leather, you can see the view from the cabin. TheCarConnection.com also has great photo galleries for every make and model you could imagine. Professional reviews can be useful as well. AutoTempest.com offers a review search tool that will find reviews for your car of choice from a bunch of top automotive sites." [Read more]
Friday, March 30, 2012
Thursday, March 29, 2012
Honda Recalls CR-Vs
"Honda is recalling 1,316 model year 2006 CR-V vehicles.
The weld strength attaching the sub-frame bushing collar to the passenger-side front lower arm is insufficient. The collar can separate from the arm due to vibration while driving.
As a result, a loss of steering can occur, increasing the risk of crash.
Honda will notify owners, and dealers will inspect the production lot stamp on the passenger-side front lower arm and, if necessary, replace the lower arm, free of charge. The safety recall is expected to begin on or about April 17." [Read more]
The weld strength attaching the sub-frame bushing collar to the passenger-side front lower arm is insufficient. The collar can separate from the arm due to vibration while driving.
As a result, a loss of steering can occur, increasing the risk of crash.
Honda will notify owners, and dealers will inspect the production lot stamp on the passenger-side front lower arm and, if necessary, replace the lower arm, free of charge. The safety recall is expected to begin on or about April 17." [Read more]
Wednesday, March 28, 2012
Consumers Confused About Credit
"Nearly half of U.S. consumers recently polled mistakenly thought that lenders, rather than consumers themselves, have the most control over their credit scores, according to a February FreeScore.com survey.
The survey of 300 respondents found that 47.2 percent thought that lenders control what credit score they have. Also, 64.7 percent of respondents thought the economy also could impact personal credit scores. However, results also revealed that more than four in five consumers (80.8 percent) understood that they are the ones with control over their credit scores and can exercise that control by following personal finance best practices like utilizing credit properly, not overspending, and living within ones means. Clearly there is some confusion among the respondents as to what factors dictate their credit scores.
The misperception, that lenders are in control, could be due in part to the fact that credit scores are getting considerably more scrutiny now than they did just a few years ago, as a larger pool of consumers need to apply for mortgages, refinancing, and other loan types including student and auto loans. As a result of the growing number of foreclosures and bankruptcies over the past several years, lenders have grown increasingly concerned about consumer credit scores, and weigh these heavily into the loan equation." [Read more]
The survey of 300 respondents found that 47.2 percent thought that lenders control what credit score they have. Also, 64.7 percent of respondents thought the economy also could impact personal credit scores. However, results also revealed that more than four in five consumers (80.8 percent) understood that they are the ones with control over their credit scores and can exercise that control by following personal finance best practices like utilizing credit properly, not overspending, and living within ones means. Clearly there is some confusion among the respondents as to what factors dictate their credit scores.
The misperception, that lenders are in control, could be due in part to the fact that credit scores are getting considerably more scrutiny now than they did just a few years ago, as a larger pool of consumers need to apply for mortgages, refinancing, and other loan types including student and auto loans. As a result of the growing number of foreclosures and bankruptcies over the past several years, lenders have grown increasingly concerned about consumer credit scores, and weigh these heavily into the loan equation." [Read more]
Friday, March 23, 2012
Jaguar Recalls Parts for ‘90s SUVs
"Jaguar Land Rover North America Inc. is recalling 180 REAR driveshaft couplings, Land Rover branded part No. TVF100010, manufactured between April and November 2011, sold for use as service parts for model year 1995-1999 Discovery, 1999-2004 Discovery II, and 1995 Range Rover Classic vehicles. Some of the rear driveshaft couplings may not have been manufactured to the required engineering design specifications and may exhibit the onset of joint separation, precluded by drive line vibration.
If this increased vibration warning sign is ignored, catastrophic failure of the drive coupling can occur. The driveshaft may detach from the vehicle while in motion resulting in loss of drive and loss of transmission park functionality, increasing the risk of a vehicle crash and/or injury.
Land Rover will notify owners, and dealers will replace the affected rear driveshaft couplers free of charge. The recall is expected to begin on or about April 23.
Land Rover's recall campaign number is P024." [Read more]
If this increased vibration warning sign is ignored, catastrophic failure of the drive coupling can occur. The driveshaft may detach from the vehicle while in motion resulting in loss of drive and loss of transmission park functionality, increasing the risk of a vehicle crash and/or injury.
Land Rover will notify owners, and dealers will replace the affected rear driveshaft couplers free of charge. The recall is expected to begin on or about April 23.
Land Rover's recall campaign number is P024." [Read more]
Thursday, March 22, 2012
KBB Marks Milestone
"Kelley Blue Book reports a one million-download milestone for its kbb.com Android mobile application. Launched in November 2010, the free, interactive app provides users with crucial car-buying information to help make confident purchase decisions.
The kbb.com Android app provides shoppers with access to new and used Kelley Blue Book Values, including MSRP, invoice, fair purchase price, certified pre-wned, suggested retail, private party and trade-in values. Car buyers and sellers can use this information in vehicle transaction negotiations to ensure they get the best deal possible, wherever they may be.
The application also offers several features for car shoppers, such as a dealer locator with detailed maps and directions, 360-degree vehicle photos, new-car video reviews from kbb.coms expert editors, and the kbb.com Twitter feed for the latest automotive news and information from Kelley Blue Books team of car aficionados. " [Read more]
The kbb.com Android app provides shoppers with access to new and used Kelley Blue Book Values, including MSRP, invoice, fair purchase price, certified pre-wned, suggested retail, private party and trade-in values. Car buyers and sellers can use this information in vehicle transaction negotiations to ensure they get the best deal possible, wherever they may be.
The application also offers several features for car shoppers, such as a dealer locator with detailed maps and directions, 360-degree vehicle photos, new-car video reviews from kbb.coms expert editors, and the kbb.com Twitter feed for the latest automotive news and information from Kelley Blue Books team of car aficionados. " [Read more]
Tuesday, March 20, 2012
Used compact, hybrid car prices soar along with gas
"If you've been putting off buying a used compact car to save more gas, you may be in for a little sticker shock. And it's only going to get worse.
Used compact-car prices are rising in tandem with the soaring price of gas, and they could go up as much as 20% as they did last year, according to Kelley Blue Book.
Used compact cars rose 0.4% in February but price increases started picking up toward the end of the month, going up 1.3% during the week ended March 2. The average used car was priced at $11,124 at wholesale auctions, the places that car dealers go to buy more used cars for their lots.
As in past gas price spikes, there is no surprise about what used cars is suddenly seeing the biggest turnaround in demand:
"The 2010 Toyota Prius led in gains, increasing in value $1,370 through the month of February," said Alec Gutierrez, senior market analyst of automotive insights for Kelley Blue Book. " [Read more]
Used compact-car prices are rising in tandem with the soaring price of gas, and they could go up as much as 20% as they did last year, according to Kelley Blue Book.
Used compact cars rose 0.4% in February but price increases started picking up toward the end of the month, going up 1.3% during the week ended March 2. The average used car was priced at $11,124 at wholesale auctions, the places that car dealers go to buy more used cars for their lots.
As in past gas price spikes, there is no surprise about what used cars is suddenly seeing the biggest turnaround in demand:
"The 2010 Toyota Prius led in gains, increasing in value $1,370 through the month of February," said Alec Gutierrez, senior market analyst of automotive insights for Kelley Blue Book. " [Read more]
Friday, March 16, 2012
Rising Gas Prices Raise Concerns
"Rising gas prices are raising plenty of concerns among dealers, but they need to resist overreacting to the situation.
AAA reports gas prices rose 30 cents per gallon in the past month, averaging more than $3.80. In some parts of the county they topped $4.
The truck market suffered a huge crash the last time prices reached that level.
That trends seems like it's repeating itself, as wholesale truck prices dropped 2.2 percent last month, according to ADESA Analytical Services.
This time differs from 2008 in important ways, however, said Tom Kontos, ADESA's executive vice president of industry analysis.
There were more factors than fuel pushing down the truck market then, he said.
One was the housing market's collapse. Contractors make up the largest buyers of pick-up trucks, especially used ones.
The other was the end of an SUV fad. That peaked in the early part of the decade and a glut of these unwanted vehicles came off lease in 2008.
The media reported a large increase in demand for alternative fuel vehicles during the last price spike, but that proved more hype than reality.
Recent surveys find little interest in these vehicles among consumers even in the greenest parts of the country.
A poll by a Seattle-based auto insurer found less than 2 percent of Northwest drivers say they own a hybrid vehicle.
That comes as little surprise to Paul Davis, owner of Metropolitan Motors in Seattle.
He doesn't stock hybrids at all due to a lack of consumer interest.
"There's just too many variables," Davis said. "The technology is changing so fast."
He took several hybrids as trades in recent years from consumers looking to downsize into less expensive vehicles. Davis sent all of them to local Toyota dealers." [Read more]
AAA reports gas prices rose 30 cents per gallon in the past month, averaging more than $3.80. In some parts of the county they topped $4.
The truck market suffered a huge crash the last time prices reached that level.
That trends seems like it's repeating itself, as wholesale truck prices dropped 2.2 percent last month, according to ADESA Analytical Services.
This time differs from 2008 in important ways, however, said Tom Kontos, ADESA's executive vice president of industry analysis.
There were more factors than fuel pushing down the truck market then, he said.
One was the housing market's collapse. Contractors make up the largest buyers of pick-up trucks, especially used ones.
The other was the end of an SUV fad. That peaked in the early part of the decade and a glut of these unwanted vehicles came off lease in 2008.
The media reported a large increase in demand for alternative fuel vehicles during the last price spike, but that proved more hype than reality.
Recent surveys find little interest in these vehicles among consumers even in the greenest parts of the country.
A poll by a Seattle-based auto insurer found less than 2 percent of Northwest drivers say they own a hybrid vehicle.
That comes as little surprise to Paul Davis, owner of Metropolitan Motors in Seattle.
He doesn't stock hybrids at all due to a lack of consumer interest.
"There's just too many variables," Davis said. "The technology is changing so fast."
He took several hybrids as trades in recent years from consumers looking to downsize into less expensive vehicles. Davis sent all of them to local Toyota dealers." [Read more]
Thursday, March 15, 2012
Toyota Recalls Almost a Half Million Trucks
"Toyota is recalling almost a half-million model year 2005-09 Tacoma vehicles, manufactured from Sept. 14, 2004, through Aug. 29, 2008. Over time, steering wheel vibration may damage the spiral cable assembly (clockspring) that powers the drivers air bag module.
If damage occurs, the air bag warning lamp will illuminate and the air bag may become deactivated.
In the event of a crash, the drivers side air bag may not deploy, increasing the risk of personal injury. " [Read more]
If damage occurs, the air bag warning lamp will illuminate and the air bag may become deactivated.
In the event of a crash, the drivers side air bag may not deploy, increasing the risk of personal injury. " [Read more]
Wednesday, March 14, 2012
Fuel Efficiency Increases
"TrueCar.com provided actual fuel economy numbers from February light vehicle auto sales that indicate TrueMPG increased to 23.2 mpg in February 2012 compared to 21.4 mpg in February 2011, and increased from January 2012 at 22.9 mpg.
TrueMPG is the companys fuel economy measure.
According to TrueCar.com, the TrueMPG for vehicles sold by U.S. manufacturers averaged 21.2 mpg in February, up from 19.0 mpg in February 2011. European manufacturers increased their average fuel economy for vehicles sold from 22 mpg to 23 mpg; Japanese manufacturers increased their average fuel economy from 23.8 mpg to 24.9 mpg; and South Korean manufacturers increased their average fuel economy for vehicles from 26 mpg to 28 mpg." [Read more]
TrueMPG is the companys fuel economy measure.
According to TrueCar.com, the TrueMPG for vehicles sold by U.S. manufacturers averaged 21.2 mpg in February, up from 19.0 mpg in February 2011. European manufacturers increased their average fuel economy for vehicles sold from 22 mpg to 23 mpg; Japanese manufacturers increased their average fuel economy from 23.8 mpg to 24.9 mpg; and South Korean manufacturers increased their average fuel economy for vehicles from 26 mpg to 28 mpg." [Read more]
Friday, March 9, 2012
Gas Prices Drive Up Used Values
"CarGurus is forecasting that as gas prices climb toward $4.50 a gallon, prices on fuel-efficient used vehicles will follow with an increase of 15 percent by August. CarGurus analysts say the correlation between gas prices and prices of fuel-efficient used cars has been notably high over the past 13 months: As gas prices climbed to nearly $4 a gallon last year, demand for used fuel-efficient cars followed, which sent prices on such vehicles up soon after. This year, CarGurus analysts expect to see a similar price correlation, the key difference being that prices on fuel-efficient used cars never fully recovered from last year's highs, so consumers will see prices peak in August at levels 10 percent higher than the same time last year.
CarGurus has tracked the list prices on used cars since August 2010 and regularly provides insights on related market trends. To arrive at this forecast, CarGurus analysts studied the correlation between 2011 gas prices and the historical average prices on a subset of fuel-efficient cars. CarGurus then considered the current market conditions to project prices through August 2012." [Read more]
CarGurus has tracked the list prices on used cars since August 2010 and regularly provides insights on related market trends. To arrive at this forecast, CarGurus analysts studied the correlation between 2011 gas prices and the historical average prices on a subset of fuel-efficient cars. CarGurus then considered the current market conditions to project prices through August 2012." [Read more]
Thursday, March 8, 2012
Chrysler Expands Certification
"Chrysler Group LLC announced the launch of Diversified Certified, a new program that enables Chrysler Group dealers to certify and sell competitive-make, pre-owned vehicles backed with a Chrysler Group warranty.
The 140 Fiat stores now open in the United States are the first to launch the Diversified Certified program. Chrysler, Jeep, Dodge and Ram Truck dealers will join the program in about 60 days.
Consumers looking for the security that a certified pre-owned vehicle offers now need only look to Chrysler Group dealerships and Fiat stores for the widest selection and one-stop shopping.
All competitive-make pre-owned vehicles will be subjected to a thorough certification process and come with a 5-year/60,000-mile maximum care (full mechanical) warranty from original in-service date, as well as Certified Pre-Owned program benefits such as towing, roadside assistance and more." [Read more]
The 140 Fiat stores now open in the United States are the first to launch the Diversified Certified program. Chrysler, Jeep, Dodge and Ram Truck dealers will join the program in about 60 days.
Consumers looking for the security that a certified pre-owned vehicle offers now need only look to Chrysler Group dealerships and Fiat stores for the widest selection and one-stop shopping.
All competitive-make pre-owned vehicles will be subjected to a thorough certification process and come with a 5-year/60,000-mile maximum care (full mechanical) warranty from original in-service date, as well as Certified Pre-Owned program benefits such as towing, roadside assistance and more." [Read more]
Tuesday, March 6, 2012
Friday, March 2, 2012
Hybrids Prove Hard Sell
"Hybrids prove a hard sell, even in the green Northwest.
A recent poll by Seattle-based PEMCO Insurance found less than 2 percent of Northwest drivers say they own a hybrid vehicle.
However, the poll shows that hybrids do remain a consideration for more than half of all drivers. As many as 59 percent of drivers in Oregon and 56 percent of Washington drivers say they would consider buying a hybrid the next time they shop for a new car.
About two-thirds of Washington hybrid drivers and just half of Oregon hybrid drivers say they're motivated by the money that hybrids help them save on gas, rather than a desire to reduce pollutants emitted by gas-powered vehicles.
Washington drivers also are three times more likely than Oregon drivers to say that rising gas prices would motivate them to buy a hybrid, according to the poll.
Of those who say they aren't likely to purchase a hybrid for their next vehicle, at least one-third from either state could be swayed if hybrid vehicles cost less. Thirty-four percent of Oregon drivers and 42 percent of Washington drivers said they would be more inclined to purchase a hybrid if the cost dropped by 5 percent. " [Read more]
A recent poll by Seattle-based PEMCO Insurance found less than 2 percent of Northwest drivers say they own a hybrid vehicle.
However, the poll shows that hybrids do remain a consideration for more than half of all drivers. As many as 59 percent of drivers in Oregon and 56 percent of Washington drivers say they would consider buying a hybrid the next time they shop for a new car.
About two-thirds of Washington hybrid drivers and just half of Oregon hybrid drivers say they're motivated by the money that hybrids help them save on gas, rather than a desire to reduce pollutants emitted by gas-powered vehicles.
Washington drivers also are three times more likely than Oregon drivers to say that rising gas prices would motivate them to buy a hybrid, according to the poll.
Of those who say they aren't likely to purchase a hybrid for their next vehicle, at least one-third from either state could be swayed if hybrid vehicles cost less. Thirty-four percent of Oregon drivers and 42 percent of Washington drivers said they would be more inclined to purchase a hybrid if the cost dropped by 5 percent. " [Read more]
Thursday, March 1, 2012
More Proof Cars Last Longer
"Another study shows vehicles are growing even more dependable.
Consumer Reports compared the percentage of problem-free, three-year-old models from its 2002 and 2011 Annual Auto surveys for 13 automakers based on their product output for which owners did not report any serious problems with their cars during the 12 months covered by each survey.
The analysis of 2011 survey data revealed an overall improvement in used-car reliability from almost all automakers with Volvo, Mercedes-Benz, Volkswagen, Hyundai, Ford, General Motors, and Chrysler showing the most notable gains (a minimum of 10 percentage points) compared to Consumer Reports' 2002 results. BMW landed at the bottom of the 2011 list with only about 70 percent of its used cars being trouble-free, which is better than the 2002 survey average of 68 percent.
Consumer Reports chose three-year-old vehicles most of which are coming off warranty and when owners begin to assume the cost of ongoing repairs. By age three, most models also have the steepest part of depreciation behind them, so used-car buyers will find it a good age on which to focus. In its analysis of used cars, Consumer Reports also tracked extremes from 2007 models five models that started out with few problems and stayed reliable as they turned five years old and five models that started out with a few more problems and got much worse over time." [Read more]
Consumer Reports compared the percentage of problem-free, three-year-old models from its 2002 and 2011 Annual Auto surveys for 13 automakers based on their product output for which owners did not report any serious problems with their cars during the 12 months covered by each survey.
The analysis of 2011 survey data revealed an overall improvement in used-car reliability from almost all automakers with Volvo, Mercedes-Benz, Volkswagen, Hyundai, Ford, General Motors, and Chrysler showing the most notable gains (a minimum of 10 percentage points) compared to Consumer Reports' 2002 results. BMW landed at the bottom of the 2011 list with only about 70 percent of its used cars being trouble-free, which is better than the 2002 survey average of 68 percent.
Consumer Reports chose three-year-old vehicles most of which are coming off warranty and when owners begin to assume the cost of ongoing repairs. By age three, most models also have the steepest part of depreciation behind them, so used-car buyers will find it a good age on which to focus. In its analysis of used cars, Consumer Reports also tracked extremes from 2007 models five models that started out with few problems and stayed reliable as they turned five years old and five models that started out with a few more problems and got much worse over time." [Read more]
Subscribe to:
Posts (Atom)