Learn How To Get The Best Deal

Blog Category: Used Auto Buying

Used Car Models to Stay Away From

2015 Chevrolet Silverado

Most people start shopping for a new vehicle by making a list of the models they like primarily based on looks or possibly recommendations from friends and family. There are also a lot of “Best of” and “Top 10” lists to help you decide which autos to shop for. Another helpful piece of information is Consumer Reports’ list of Used Cars to Avoid Buying.

Top 12 Used Autos for New Graduates

2011 Chevy Volt - Great Used Auto for Grads

Many colleges across the United States have already wrapped up the 2013-2014 school year and completed their graduation ceremonies with much pomp and circumstance. Many more will join the ranks of the newly graduated in the weeks ahead. And nearly every college student at some point has dreamed of being handed the keys to a shiny new automobile after several years of hard work to get to this point.

Be Wary of Flood Damaged Vehicles After Sandy

Hurricane Sandy

Megastorm Sandy has finished cutting a path of destruction throughout the northeast portion of the U.S., but the impact of this epic storm will be felt in the auto industry for quite a while. One thing to be particularly aware of is the influx of flood-damaged vehicles into the used car market, as detailed in an article at The Detroit Bureau.

Used Car Prices Dropping

Used Cars

After a dramatic rise in used car prices in recent years, it appears that these prices have now started a slow downward trend, according to a report by NADA.  Over the past three years, used car prices had soared, growing nearly 20% since 2009. The main reason for this run-up was simple supply and demand. Because of poor new car sales due to the economic recession, the demand for used cars increased. But the lack of new car sales also meant fewer trade-ins, thus less used car supply. Less supply + more demand = higher prices.

10 Best Used Car Values

Kiplinger Top 10 Used Car Values

If you’re in the market for a used car, you’ve probably noticed that great deals have been a bit harder to find.

Where Are Used Car Prices Headed?

NADA

After a big run-up in used car prices earlier this year, particularly for compact cars, it appears the trend is reversing. Unless it’s not. Yes, it is complicated, and we’ll explain. NADA (National Automobile Dealers Association) has released their monthly Guidelines report, and if you are considering buying a used vehicle, or trading one in, there’s important information you should know.

The Best Time to Buy a Car: Part 1

The Best Time to Buy a Car

There are a lot of stories around about the best time to buy a car. Some of these stories are true, but most fit into the category of urban myth. Some of the ones that aren’t true, or at least don’t have any actual research to back them up, are:

Myth # 1: The best time to buy a car is in the afternoon when the salesperson is sleepy.

Myth # 2: You will get a better deal on a car on a rainy day.

Myth # 3: There are better days of the week to buy because the dealership is slower on those days.

While there is ongoing speculation about the above myths, there are some things about timing your car purchase which we know to be true. They are:

Tax Time = Bad for Buyers

Buying a Certified Pre-Owned Vehicle

Certified Pre-Owned

A Certified Pre-Owned (CPO) vehicle is a used vehicle which has been inspected and refurbished to ensure the vehicle measures up to rigorous quality standards. A CPO vehicle is usually backed by a manufacturer’s warranty, often in the form on an extended warranty. CPO cars are not new, they emerged in the early 90s from the luxury car market, with companies like Lexus and Mercedes-Benz releasing used off-lease vehicles that had relatively few miles on the clock.

5 Ways to Avoid Buying a Lemon

Lemon

There’s a risk when buying a car that one is going to end up with a lemon. Whilst someone buying a new car will generally be safe, the used car market can be fraught with danger for the unsuspecting consumer. But avoiding a lemon is actually more about applying good judgement and using some research skills rather than about being lucky.

Let’s look at some ways to avoid getting stuck with that car that nobody else wants:

Do Your Homework on the Make and Model

10 Best Used and Affordable Cars

ten best used and affordable cars

We often focus on new cars and buying new cars on this blog but today we’re going to take a look at buying a used car. For many of you and for many reasons, a used car makes the most sense. Used cars often make the most practical sense when you need a second car, need a car for your teenagers or a vehicle for city driving. As well, if you make a smart buy, your used car can result in a much better purchase than buying a new car.

Lessons From Hyundai

In a recent blog post we gave you a couple of tips to help you out when visiting a dealership. In this blog post we also stressed the importance of doing your research. The more research, knowledge, price quotes and information you have - the better your vehicle buying experience will be. But the question is, which research can you or do you trust?

Can Expert Car Reviews Be Trusted???

Before I give you my full answer, let me provide you some context…

One of my colleagues here at AutoBuying101.com shared an interesting article that got a little attention in the automotive journalist community last month.  The following article suggests how editorial critic car reviews are biased due to numerous circumstances: http://www.ajr.org/Article.asp?id=5141

Sirius XM Adding to Pre-Owned Enticements When You Buy From A GM Dealer

GM Dealers (Chevrolet, Buick, and GMC brands) looking to move more used cars in 2011 have a little more ammo in their bag of tricks, thanks to Sirius XM Satellite Radio.  According to a recent press release, the company is now offering a free three month subscription to the company’s service with the purchase of a pre-owned vehicle that has a factory installed receiver, regardless of make/model.  The only caveat is that the vehicle be purchased at one of more than 1,000 participating GM dealerships across the US.

GM will continue to provide the same three month subscription to buyers of new and certified pre-owned GM vehicles, but this new offer allows budget-conscious and bargain shoppers the opportunity to experience Sirius XM, as well.

Study Finds Mercedes Benz Tops List For Best Dealership Experience

It’s probably not too surprising to most car shoppers that dealerships selling luxury car brands treat their customers the best, with Mercedes-Benz topping the list for 2011. Pied Piper PSI, a company that monitors consumer satisfaction for the automotive industry, sent more than 3500 mystery shoppers to dealerships across the United States to measure how well people shopping for vehicles were treated by each brand’s staff.

The top five dealerships in the study were:

Industry Veteran and Expert Joni Gray Joins AutoBuying101.com Team

Throughout my own career in the automotive industry, I have been fortunate to work and gain an understanding on numerous aspects of auto shopping and buying through my work with companies related to auto finance, automotive values, dealer sales, inventory, government motor vehicle agencies, and consumer automotive resources.  To really understand the complexities of the auto buying process you need perspective from a number of different angles, and very few people have worked with different types of companies in the auto industry.

Edmunds.com's 2011 Used Car Best Bets

2009 Mazda Miata

We’ve been talking a lot about used cars, lately.

The reason is simple:  there are some really great deals to be gotten if you know what to look for and how to spot them.  Our friends at Edmunds have put together their annual Edmunds Used Car Best Bets, which is a great list that will help you in that search. 

Our 2011 Auto Buying Experience Study Reveals the Best & Worst Aspects of Auto Buying

4,000,000 buyers every month.  On average, every month, approximately 1,000,000 new and 3,000,000 used autos are sold in the United States.  Americans have had a love affair with cars since the first ones were produced over 100 years ago.  They not only are essential to our everyday lives, and the efficient operation of our economy, but they are an expression of our personality, and often times just plain fun to drive.

AutoBuying101.com Begins Video Tips and Creates New YouTube Channel

AutoBuying101.com Now On YouTube

The entire AutoBuying101.com team is excited to announce the addition of our own videos on YouTube, where you can find us at www.youtube.com/autobuying101

Along with adding our new vides to YouTube, we will be posting them right here on the Auto Buying Insider Blog and in other areas of our site.

Fuel-Efficient Used Car Prices Dropping for Summer

Kelley Blue Book

You read that right: the prices of fuel-efficient compact, subcompact, and hybrid cars are actually dropping this summer after 20 weeks of consecutive gains, Kelley Blue Book reports [kbb.com].The drop in fuel-efficient car values coincides with a drop in gas prices, of course. Gasoline hit a peak in May when the national average was $3.98. Gas prices have dropped every week in June, with a national average on June 20 of $3.65 [EIA.gov]

TrueCar Adds Black Book Values to ClearBook.com Used Car Site

ClearBook partners with Black Book

The hardest part about trading in your pre-owned car, is knowing if you are getting a fair value for the car.  There are a number of resources, in print and online that can show you what the presumed value is and you can hope that you are making a good deal.

One of the best is Black Book.  No nonsense and completely independent, Black Book offers accurate and up to date pricing based not only on the condition of the car, but of other external markers that shape both the market and the industry.

New Auto Buying & Selling Resource: InspectMyRide.com

If you are in the market for a used auto to buy, or if you are thinking about selling your auto, having the vehicle inspected can be a critical step to ensure a smooth and fair transaction.

So, it’s great to see a new nationwide service launch that specializes in providing an independent, reliable, inspection of a vehicle.

AutoTrader Study: Actual Photos Of A Auto Help Increase Interest And Sales

If a picture is worth a thousand words, what does that translate to in the world of buying and selling autos?  According to AutoTrader, it is worth more auto sales to dealers, which can translate nicely into cold, hard cash.

Ready to Buy Your Next Auto? Right Now, New Is A Better Deal.

With all of the issues hitting the auto buying industry – high gas prices, recall issues, wounded economy, part shortages – the ability to cut a good deal still exists.  But don’t be fooled into thinking that there are no major differences when comparing new vs. used auto options. 

Nope, the used auto market has never been more solid…for the seller.

According to used auto trend watcher RVI Group and their Used Car Price Index, used auto values shot up an astonishing 16% in a year-over-year comparison.  What is causing this?

$4+ Gas Prices, Limited Inventory, Recovering Economy….Is Now a Good Time to Buy a New or Used Auto?

Is Now A Good Time to Buy?

According to AAA, the average national gas price today hit $4.36 a gallon.  With hard working folks still getting back on their feet after the economic impacts of the past few years this is not welcome news for anybody in the US.  The rise in gas prices can mean a direct increase in your monthly expenses, including everything from your weekly fill-up at the gas station to the cost of your groceries (which increase in price due to higher transportation costs).

J.D. Power & Associates 2011 Vehicle Dependability Study

J.D. Power & Associates

You would think that after all Toyota went through with their “memorable for all the wrong reasons” 2010, the brand would have taken a hit in the many surveys and studies that are taken on the topic of dependability.

Critical Auto Buying Mistake: Only 44% of New Buyers Plan To Get Pre-Approved

According to a recent study conducted by the folks at Kelley Blue Book, only 44% of prospective new car buyers plan to get pre-approved for a loan before buying.  While that isn’t overly surprising, it remains a critical mistake…one that can cost the consumer a great deal of money and time.

Helpful Resources For Useful Dealer Reviews

One of the toughest choices you have when you are shopping around for a new or used auto, is what dealers to consider, and which too visit.   Everyone wants to buy from a trustworthy dealer, and rest assured THEY ARE OUT THERE!

As we recommend throughout AutoBuying101.com, the process starts with contacting dealers from the comfort of your home/office, using tools like we have on our site, email, and phone.

Use Of "Chat" Tools By Auto Dealers On The Rise

Earlier this week, AutoTrader.com announced how they recently selected one of the most popular auto industry "chat" providers, Contact At Once as their partner to integrate chat functionality on AutoTrader.com, so on certain vehicles you can instantly chat with the selling dealer.  You can read the full press release here >>.  What's great about this for consume

If you are a sub prime buyer looking for a GM vehicle, you may be out of luck.

Recent news came out last week that GM was looking to develop more relationships with national lenders to help facilitate auto loans for their dealers. A few years ago GM sold it's interest in GMAC, which acted as it's primary lending source to consumers for new and used GM vehicles.