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Posts Tagged ‘new cars’

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Consider Best Resale Value When Buying A Car

December 23rd, 2009 by Matthew C. Keegan | 4 Comments | Filed in Autos Express

KBB says that the 2010 Ford Taurus should retain the best residual value of any full size car in five years.

That sporty Dodge Charger SXT in white gold pearl is a real head turner and it is one of the fastest sedans on the market. But when it comes to anticipated resale value the Charger is not a good deal, something every car shopper should consider when purchasing a new car.

So, how do you know what cars for sale today will be a good deal in 2014 or 2015? That’s easy: track recent resale trends for that model or, if an all new model, the brand as a whole can give you a good idea whether your car will do a good job of retaining its value than most.

Residual Value Guide

Consumers have long turned to Kelley Blue Book (KBB) to find out what their cars are worth, how much they should pay for a used car, and which cars have the best resale value. To predict resale value, the Kelley Blue Book Official Residual Value Guide is often cited as the best source for determining future value, telling car shoppers which brands are best and which models lead the resale value pack.

For 2010, KBB says that the best resale brand is Toyota while the best luxury brand is Lexus. From there, KBB breaks its winners down into segments and top models.

According to KBB, the following ten models stand the best chance of having a top resale value in alphabetical order:

  • Audi A5
  • BMW M3
  • Chevrolet Camaro SS
  • Chevrolet Corvette
  • Honda CR-V
  • MINI Cooper
  • MINI Cooper Clubman
  • Toyota Prius
  • Toyota RAV4
  • Toyota Tacoma

KBB says that new cars generally keep only 35% of their value after five years of ownership. This is important to know because if you pay $30,000 for your car, then it may only be worth just $10,500 after five years of ownership. Some vehicles fare much worse while others tend to hold their value better for the long term.

Which Options Matter?

While consumers may think well optioned cars increase their value, this theory usually isn’t true unless that happens to be a navigation system in a luxury car or a performance package for a sports model.

Regional preferences should be factored in too as a two-wheel drive vehicle won’t have as strong of a resale value in colder climates while all- or four-wheel drive will. In warmer climates color matters as lighter colored cars are more in demand than darker cars.

Adv. – If you’re planning to buy a new car, a thorough study of the IIHS results can ensure that the vehicle you buy is a safe one. As you do your research you’ll want to get a quote or find a dealer to set up a test drive. Importantly, arranging your own auto financing can save you hundreds of dollars, allowing you to take the manufacturer’s rebate instead of their low-rate financing.

Photo Credit: Ford Motor Company


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Asian Brands, Ford Top Reliability Survey

October 29th, 2009 by Matthew C. Keegan | 2 Comments | Filed in Autos Express, Consumer Tips, News
The V6 Chevy Malibu scored well in a recent reliability survey.

The V6 Chevy Malibu scored well in a recent reliability survey.

Consumer Reports (CR) magazine’s 2009 Annual Auto Survey has been released, reflecting continued dominance by the Asian brands as well as good news for one domestic maker. In the their most recent survey, which was released on Tuesday, CR gave high marks to Toyota and Honda, while also recognizing that Ford has made significant strides to improve its reliability.

Subscriber Survey

CR’s reliability survey is based on the experiences shared by its subscribers, representing some 1.4 million vehicles. Notably, five of the eight top vehicles in reliability were hybrid vehicles, underscoring the growing importance of this category. CR also noted that while reliability is important, it doesn’t mean that these vehicles are recommended by them. For example, the Toyota Yaris and Honda Insight scored very high with consumers, but not so with CR who noted that both models operated with sluggishness.

In this most recent survey which is available to subscribers on CR’s website or through the mail with the December 2009 issue, there were a number of interesting findings including:

  • The two top selling midsize sedans – Toyota Camry and Honda Accord – were bested in the survey by American competitors including the Ford Fusion, Mercury Milan and V6-equipped Chevrolet Malibu.
  • The Mercedes GLK, a compact SUV, is one of the most reliable SUVs. The GLK was introduced this past January for the 2010 model year.
  • Ford continues to show strong improvement with 46 of its 51 surveyed vehicles meeting or exceeding reliability expectations. Notable exceptions: the all wheel drive versions of the MKZ, MKX and MKS, Lincoln models.
  • Of the 48 vehicles to win top honors, 18 were made by Toyota and 8 by Honda. Notable improvements were also realized by Hyundai/Kia and Subaru.
  • European brands, which have long trailed Asian makes but have routinely finished ahead of the American brands continued to show improvement. According to the CR survey, Mercedes and Volkswagen continued to improve although the VW Touareg had the worst reliability of any vehicle surveyed.

Survey V. Survey

Consumer Reports has emphasized that its reliability survey represents what its subscribers say about a vehicle, not what the magazine recommends. While the Annual Reliability Survey is published for the December issue, it is the April issue of CR which features the magazine’s Annual Recommendation Survey.

CR does remove a vehicle from its recommendation list if it finishes below average on the consumer reliability survey. A most recent example of this is the Porsche Boxster which will not appear as one of CR’s recommendations next spring.

Adv. — Christmas shopping? Get an early start by visiting the websites of well known retailers including Fingerhut, Sears and Wal-Mart. Lots of bargains will be available this holiday season, so shop and compare!


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What You Need To Know About The Car Scrappage Program

June 30th, 2009 by Matthew C. Keegan | 4 Comments | Filed in Autos Express, Consumer Tips

Car Allowance Rebate SystemSayEducate has been keeping tabs on the “cash for clunkers” legislation as it was being debated in Congress. For the past several months members of the House and the Senate have been working on a bill whereby consumers might be able to turn their older vehicles in for scrappage, receiving a federal credit in exchange for buying a new car.

Well, a bill was passed by both the House and the Senate and signed into law by President Obama last week. Though certain details still must be hammered out, the “Car Allowance Rebate System” (or CARS) program as it is called will kick in no later than July 23rd, giving consumers an unusual and limited time opportunity to save money on their new car purchase.

Not every consumer will be eligible to participate in the CARS program for several reasons: only one billion dollars was set aside for the program which means at $3500 to $4500 a pop, 250,000 new cars will be covered. The program is scheduled to last until November 1st or when funds dry up, with the likelihood that happening much sooner being great.

Another thing consumers need to keep in mind is that most eligible vehicles must get 18 mpg or worse and can’t be older than a 1984 model. There are a number of vehicles that meet this criteria, but the new vehicle being purchased has to meet certain fuel mileage requirements in order to qualify.

In order to find out if you qualify and what the program is all about, the federal government wants consumers to know about Cars.gov, a site created to explain the program as well as share with you current information. In addition, the CARS website can help you with:

Determine if you qualify – If you meet the program’s parameters then you can start shopping around for a new car.

Bring paperwork — When you’re ready to buy, then you need to bring your paperwork with you to the new car showroom. Buyers need to have their registration, title and insurance information with them. Dealers will be checking to make sure that your car is drivable and has been registered and insured for the past year.

Dealer’s responsibility — Eligible buyers will be able to knock $3500 to $4500 off of the final negotiated price for their vehicle, but it’ll be up to the new car dealer to get his credit from the federal government. This means that once the dealer determines your eligibility, they’ll subtract the federal credit from your price. Your dealer will “deal” with the government from this point on, not you.

Will the federal government extend the CARS program if it turns out to be more popular than anticipated? Perhaps. However, if you want to participate then check your eligibility and gather your paperwork right away.  Once the program starts showroom traffic will increase sharply which means that you’ll have to act fast in order to get the car that you want.

Adv. — If you are considering purchasing a new car, there are some steps you can take to make sure that you get the best deal. Come on over and visit SayLending.com for auto loans information including new car research to help you find the vehicle that meets your needs.


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Cash For Clunkers? Not Law Yet!

June 11th, 2009 by Matthew C. Keegan | 3 Comments | Filed in Autos Express, Consumer Tips

This past April, SayEducate.Com made mention of the federal government’s “Cash For Clunkers” program, a plan where car buyers would be able to trade in their older, gas guzzling models for new, more fuel efficient vehicles. That program has been debated for several months now, but the U.S. House of Representatives finally passed the bill on Tuesday (H.R. 2751) which means that the legislation will now be taken up by the Senate.

CadillacShould the U.S. Senate decide to pass a similar version of the bill, it’ll go on to the executive branch where President Obama has promised to sign it into law. Though it may take a few months before it kicks in, “Cash For Clunkers” could bring significant savings to the consumer who is planning to buy a new car. However, before that happens, there are a few things you should know about the program before you decide whether to participate or not.

Cash For Clunkers: A Primer

As it stands right now, the following are the highlights of the Cash For Clunkers program:

Poor MPG Vehicles Only — Unless you have a vehicle that gets worse than 18 mpg, you cannot trade in your old car and get the credit which reportedly will be between $3500 to $4500. A few newer vehicles like the Hummer, qualify, but you’ll want to skip this program if the residual value of your trade in is greater than the credit offered.

Scrapped & Gone — Whatever vehicle you own, it will no longer be used meaning when you turn it in, it’ll be sent to the scrap yard with perhaps some of its parts recycled.  You may not care what becomes of your vehicle at trade in, but if you’re hoping that it will be reused, it won’t be.

Registered & Insured –  Don’t think for a moment that the beater you have sitting on blocks in your back yard qualifies. Unless, of course, you have had it registered and insured for the past year. The federal government isn’t going to take your junker unless you’ve been paying insurance on it and it has been registered with the state.

Lots of people who have been waiting for this bill and holding off on their new car purchase will be disappointed if the House bill becomes law with no changes to it. With so few vehicles eligible and trade in values not making it worthwhile for newer vehicle owners to trade in, there is a good chance that the four billion dollars that Congress has allocated for this program may never be completely used.

Then again, we’re talking about the federal government which has shown an awful habit these past several years of spending whatever money they can get their hands on while offering assistance programs that don’t go far enough or are ill-advised in the first place.

Source: Auto Trends

Adv. — Visit the nBuy Shopping Plaza to find savings on all of your purchases. You can earn shopping rebates, find school supplies, and save on stuff for your car.


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