American Consumer News » dealers http://www.americanconsumernews.com News for Consumers in Changing Times Tue, 31 Jan 2012 21:06:28 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Don’t Let Your Car’s Value Go Down “Like a Rock.” Buy the Vehicle that Keeps its Value the Best. http://www.americanconsumernews.com/2007/11/don%e2%80%99t-let-your-car%e2%80%99s-value-go-down-%e2%80%9clike-a-rock%e2%80%9d-buy-the-vehicle-that-keeps-its-value-the-best.html http://www.americanconsumernews.com/2007/11/don%e2%80%99t-let-your-car%e2%80%99s-value-go-down-%e2%80%9clike-a-rock%e2%80%9d-buy-the-vehicle-that-keeps-its-value-the-best.html#comments Sun, 18 Nov 2007 16:17:43 +0000 ACN Staff http://www.financeispersonal.com/2007/11/don%e2%80%99t-let-your-car%e2%80%99s-value-go-down-%e2%80%9clike-a-rock%e2%80%9d-buy-the-vehicle-that-keeps-its-value-the-best.html Don’t Let Your Car’s Value Go Down “Like a Rock.” Buy the Vehicle that Keeps its Value the Best. was created by and is property of American Consumer News.

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After your home, the car that you drive will likely be the single most expensive purchase that you make. But unlike your home that appreciates over time, your car will go down in value as it gets older and you put more miles on it. This process of buying newer cars, wearing them down, and selling them when they get too old for one’s liking can get very expensive as time goes on, so it makes sense to buy the models of vehicles which hold their values the best.

So what brands of cars will keep their initial value for the longest? Kelley Blue Book did a study on just this. Its 2008 Best Resale Value Awards found that Volkswagen produced vehicles will keep their value the longest. After five years a typical Volkswagen will have just under 50% of their value. If a car was originally sold for $30,000, it would still be worth $15,000 after the five year period.

Other brands which made their top ten include Acura, Audio, BMW, Honda, Infiniti, Lexus, Porsche, Toyota and Subaru. Any of these would be fine to keep over a long period of time. When it came the cars that hold their values the least, Suzuki was the worst. For every dollar you spend on a Suzuki, you’ll only have 25 cents of it worth of value after the initial 5 year period of ownership. Other brands that were close to the bottom of the list was Chrysler, Dodge, GMC, Jeep, Lincoln, Mercury and Jaguar.

When shopping for a new vehicle, make sure to get a make and model that will be more likely to keep its value. You’ll get a lot more money when you go to sell it a few years down the line.

Don’t Let Your Car’s Value Go Down “Like a Rock.” Buy the Vehicle that Keeps its Value the Best. was created by and is property of American Consumer News.

]]> http://www.americanconsumernews.com/2007/11/don%e2%80%99t-let-your-car%e2%80%99s-value-go-down-%e2%80%9clike-a-rock%e2%80%9d-buy-the-vehicle-that-keeps-its-value-the-best.html/feed 7 Get Out of the “Grind” When Buying Your Next New Car http://www.americanconsumernews.com/2007/11/get-out-of-the-%e2%80%9cgrind%e2%80%9d-when-buying-your-next-new-car.html http://www.americanconsumernews.com/2007/11/get-out-of-the-%e2%80%9cgrind%e2%80%9d-when-buying-your-next-new-car.html#comments Sat, 17 Nov 2007 13:16:21 +0000 ACN Staff http://www.financeispersonal.com/2007/11/get-out-of-the-%e2%80%9cgrind%e2%80%9d-when-buying-your-next-new-car.html Get Out of the “Grind” When Buying Your Next New Car was created by and is property of American Consumer News.

]]> Buying a new car can be an absolutely horrendous process if you go to the wrong dealer. They’ll try to put you through what’s known in the industry as “the grind,” pressure you, go in the back and “discuss it with the manager,” and use just about every under-handed negotiation tactic known to man. They’ll tell you that someone else is interested in the car and that if you don’t buy it now it’ll be gone, they’ll tell you that it’s the last one on the lot and all sorts of other lies and half-truths to try to get you pay more than you have to. Just don’t play their game, here’s how to get out of the grind.

A company called CarMax, based out of Richmond, Virginia, did a study to find out what people enjoyed about the car buying process and what they absolutely hated about the car buying process. “The grind” was the biggest thing they found that consumers hated, so they built their business model around providing high quality products at a set price and providing very good customer service, the exact opposite of how most dealers currently operate.

Consumers have responded to CarMax’s different way of doing business in a big way. The company now makes $600 billion each year, is adding locations all over the country and is currently in 19 different states. When purchasing a vehicle from CarMax, you can go to their website, pick out the exact make, model and features you want, and they’ll tell you a price, and that’s what you’ll pay. It’s as simple as that! CarMax will give consumers a better price than what they will be able to get on their own 90% of the time. One might think that this new and very successful model for selling vehicles might spread to other dealers hoping to capture the same market, but thus far that has not been the case.

You’ll almost always get a great price with CarMax, but you will likely not want to finance your vehicle through CarMax. Your local credit union or insurance company will almost certainly be able to provide you a better interest rate than CarMax or any dealer for that matter. Also, always have the car checked out by a certified mechanic before agreeing to buy the vehicle.

Get Out of the “Grind” When Buying Your Next New Car was created by and is property of American Consumer News.

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