Anytime Adviser—Used Car Buying Coach

 

Resources

 

Books and Periodicals

 

Consumer Reports is published monthly by Consumers Union. The April issue of the magazine and the annual buying guides offer reliability rankings. Like your credit union, Consumer Union is a nonprofit organization. As such, it offers unbiased information.

 

The Used Car Book ranks models from the past 10 years, including complaints, repair costs, fuel economy, and crash test results.

 

Check It Out: How to Inspect a Used Car is a 30-minute video that demonstrates how to fully inspect a car. Recommended for those somewhat familiar with the workings of an automobile.

 

 

Web Sites

 

You can spend days online and find still more sites about buying cars. The ones listed here are some of the easiest and most complete information resources. Remember, though, most Web sites are supported by advertising—try not to let yourself be sold using an emotional appeal, especially at manufacturers' sites.

 

Fueleconomy.gov is maintained by the U.S. Department of Energy. Here you can check fuel economy and green house emissions. It also has information about hybrid fuel vehicles.

 

Hwysafety.org If safety is at the top of your list, check this site funded wholly by auto insurers. You'll see how vehicles fared in 40 m.p.h. crashes.

 

Safercar.gov The National Highway Traffic Safety Administration will show you the safety rating of each model, based on how likely crash-test dummies were to sustain injury in a collision at 35 m.p.h.

 

Consumerreports.org is the Web site for the magazine. If offers a used-car price service for a fee.

 

Carfax4CU.com offers vehicle history reports for a fee (discounted for credit union members). You'll need the vehicle identification number (VIN) found on the driver's dashboard. The report will indicate if the car has a clear title or if the car has been salvaged, flooded, or rebuilt.

 

Edmunds.com Run by the well-known automotive publishing firm, this is one of the broadest and in-depth sources of online information. While it's not as popular as Kelley Blue Book (KBB.com), viewers rate it more helpful. Calculate the "True Market Value" price, which shows you what cars have been selling for in your region, with options right down to the color and mileage. You'll find professional and customer reviews of models and the true cost to own a vehicle, including average depreciation.

 

KBB.com Run by Kelley Blue Book (another car book publisher), this is one of the most popular sites. For used cars, note that Kelley gives the average retail (what a dealer or private party is likely to ask) rather than the average selling price.

 

Any car manufacturer name plus ".com" should get you detailed information on a specific model.

 

Complete Car Cost Work Sheet

 

Fill in your own estimates for each vehicle you are considering. Since insurance premiums vary considerably, call an insurance agent for estimates. 

 

	Monthly cost	Monthly cost	Monthly cost
Vehicle make & model	Sample
Loan payment	$280
State tags/licensing	$5
Gas	$65
Oil changes (quarterly)	$10
Maintenance	$25
Repairs	$30
Insurance	$110
Other	$0
TOTAL OWNERSHIP COSTS	$525

 

Used-Car Priority Work Sheet

 

Why are there so many different vehicles, with so many different features? Mostly, it's about choice. What appeals to one person is totally insignificant to another. For each characteristic, fill in the quality you're seeking and how important it is to you using this scale:

0 = Not important            2 = Very important

1 = Fairly important          3 = MUST have

 

Category	Desired features	How important?
Overall
Type (car, pick-up, SUV, van)
Manufacturer or dealer warranty (1 yr, 2 yr, 3 yr)
Manufacturer
Style (2-dr, 4-dr, hatchback)
Maximum odometer reading
Model-year range
Color
Body free of dings or dents
Sunroof
Performance
Fuel economy (10mpg, 20mpg, 30+mpg)
Horsepower
Rated as reliable
Handles well on highway
4-wheel drive
Safety
Lap/shoulder seat belt
Driver air bag
Passenger/side air bag
Antilock brakes
Rated as safe in crash tests
Daytime running lights
Interior
Comfortable seats
Interior (vinyl, cloth, or leather)
A/C
Stereo/tape/CD
Comfortable/quiet ride
Pricing
Maximum sales price
Low insurance premiums
Other

 

Used-Car Description Checklist

 

Customize this work sheet by adding the top features you're looking for in a used-car. Then complete the column for each vehicle that you call for details. If you opt to see and test drive the car, enter information on the suggested retail price for this vehicle. You'll find this information in your library or online.

 

Owner
Phone #
Manufacturer
Model
Vehicle I.D. (VIN)
Auto or man. trans.
Engine size
Mileage
Asking price
Any current offers on this vehicle?
Exterior color
Interior color
Interior type (cloth/ vinyl/leather)
Accidents or repairs
Condition of body (dents, dings, rust)
Radio/stereo specifics
Ownership history (one owner, fleet car, leased, trade, auction?)
Priorities
Before test driving, find the current retail value of this vehicle and the loan value

 

Used-Car Test Drive Checklist

 

Print this checklist, grab a flashlight, a magnet, a rag, and a pencil, and you're ready to inspect.

 

  Vehicle: _____________________

 

Under the hood
	Leaks
	Fluid levels
	Oil (should be light brown)
	Antifreeze (should be green)
	Power steering (should be clear)
	Transmission (should be red)
	Belts (check for cracks)
	Hoses (should be firm, not soft or hard)
	Battery and connections
	Electrical connections and wiring
	Old oil buildup or sludge inside the valve cover--where the oil filler cap is (signs of neglect)
Under the vehicle
	Leaks
	Undercarriage for damage
	Exhaust system