I’ve heard it said that, by driving a new car off the lot, consumers consequently lose thousands of dollars — this depreciation of a vehicle’s value in the first year of ownership is simply astounding, and certainly cause for the more thrifty consumers to consider purchasing a used automobile. Older cars are immeasurably more reliable than they once were, due to extraordinary advances in mechanical technology (even if one is unconvinced about the reliability of a pre-owned car, extended warranty coverage is sometimes transferable through person-to-person sales). New and used cars obviously serve different purposes, but whatever your preference — new or used— a common thread in the decision to purchase any vehicle is affordability and dependability.
Affordability Factor of New and Used Cars
The primary index for the value of new and used cars is something called the Blue Book. A quick visitation of the Kelley Blue Book site (www.kbb.com) affords consumers the opportunity to research values and prices of virtually every automobile ever made — both new and used. Navigation of the Blue Book website provides additional materials as well, including: J.D. Power and Associates rankings, comparative average prices between vehicles or between different options, reviews on a car’s performance, and an Internet-based search engine for dealer incentives and rebates.
To receive list prices for a new automobile, simply plug in the type of car desired — in my case, a convertible — the make of the car — let’s say, Jaguar — the model desired — a brand new XK series ought to do it — and out plops the price: $75,495; now, if only there was a website that told me where to find eighty thousand dollars. Used car list prices work roughly the same way, although the additional variable of vehicle condition needs to be accounted for (mint, good, fair, poor). In the end, the Kelley Blue Book site, while certainly not the only available resource on the subject, will give consumers a heads-up on what prices to expect, and subsequently know when they’re being grifted or gifted.
Dependability Factor of New and Used Cars
Thanks to state-enforced Lemon Laws, new car owners needn’t bother about the initial reliability of their purchase. New cars come standard with a 3-year/36,000 mile factory-issued exclusionary warranty (meaning all car parts are included in the warranty, unless specifically stated otherwise). But, potential purchasers of new and used cars should definitely examine the vehicular history of the make and model. Scan for historical problems like electrical failure or average lifespan. Of course, when opting for a used car, a more thorough check is warranted. Contact websites similar to Carfax.com for a complete car history report, which allows consumers the opportunity to examine collision and repair records, as well as odometer rollbacks, to avoid being suckered into a lemon.
Potential used car purchasers should additionally take their prospective car to a mechanic for a thorough diagnosis of imminent or current vehicular ails.
Buying new and used cars leaves consumers vulnerable, but there are plenty of ways to cover one’s tracks. Don’t be satisfied with the preternaturally biased advice of dealerships and used car owners — after all, their main goal is to sell their car. Research potential pitfalls of your purchase as well as the average price range so you don’t get sold something you don’t really want.
By Jean-Pierre Lacrampe