Car Buying Tips
by Jerry Gregory

There are four major factors taken into account when evaluating the worth of your car: mileage, market data, the condition of the vehicle and how well it has been maintained.
The value of  your car is not always what Kelly Blue Book lists, but what it would cost to YOU replace it.
Depending on the condition of your car, putting a couple thousand dollars in your car to fix it up, even if the value doesn't warrant it can be more economical than buying a new or used car you have no history on.

Few of us fully appreciate what the costs of owning and operating a car amounts to over the course of a lifetime. The estimated average cost of owning and operating a standard-size automobile over your expected driving lifetime now is over $250,000 - a quarter of a million dollars! All told, you probably will spend more of your disposable income on automobiles than on virtually anything else, except food and shelter.*

Take the time to really identify your transportation needs now and in the future. You will be less likely to get tired of the vehicle and want to sell it after only a year or two.

Take into consideration the insurance rates when buying another car. A Honda may be significantly cheaper to insure than that sports car that caught your eye last week. Talk with your insurance agent to find out about how cars are classified. Sports cars generally raise premiums while family cars tend to lower them.

Who will service the vehicle and where will parts come from? If there is no dealership in your area for that brand of car, repairs may take a day or two to get parts. In some areas it may be hard to find someone to work on some car models that are not very common.

Good places to research a new or used car you're interested in purchasing are:    
JD Power   and  cars.com "click on the "Research" option".

 Vehicle Dependabiliy Rating by JD Power

Buying New
Become aware of when a vehicle will be redesigned. Get an additional price break by purchasing a vehicle (the previous design) six months to one year after the new vehicle design hits the market. Try to avoid buying a vehicle that will be redesigned soon after you have purchased it or its value will drop on you.
A good article from the Oregon Attorney General on buying a new car from a dealer.

Buying Used
Get a Pre-purchase Inspection  (sometimes called a Used Vehicle Inspection or diagnostic inspection) before purchasing. Expect to pay more than $65 for a thorough inspection, but it can save hundreds or even thousands down the road.

Ask for Maintenance records if buying from a private party to see if scheduled services have been performed.

Check for NHTSA Safety Problems & Issues. www.nhtsa.dot.gov/cars/problems/

Get a Kelley Blue Book report for value. www.kbb.com

Get a CarFax vehicle history report to determine if it's been badly wrecked, see purchase history or detect odometer tampering.  www.carfax.com

Tips to keep that value in your car once you buy it.

Maintenance is Cheaper

When comparing the costs of buying and keeping a car for 225,000 miles over 15 years vs buying and financing an identical model every five years, the savings could be more than the original purchase price of the vehicle, a study by Consumer Reports concludes.   read more

* American Institute for Economic Research.