Don't Let The Bad Economy Get You Down!
May 13, 2009 6:21 pm US/Eastern
Cutting Corners: How To Save In A Used Car Lot
(CBS4)
New car sales have dropped so sharply, Chrysler went bankrupt and GM is on life support. Now it turns out the real action is in the used car lots. So if you spend a little time doing some research and checking the facts ahead of time, it can save you more than a few bucks when it's time to make your choice.
Auto shopper Nick Ranieri played hardball and got $11-thousand off the sticker price of a Chevy Tahoe.
"I told them because of the economy, if you do the right thing by me I'll leave with a car today," said Ranieri.
It's a buyer's market, not only for new cars but for used ones too, which Americans are choosing 78 percent of the time. So if you're in the market for a used car, choose carefully. Pick the model you're interested in, than do your research.
Use an automotive web site like
Edmunds.com where you can plug in the model and get reliability reports and consumer reviews.
Next, research a fair price.
For example, a new 2009 Chevy Malibu starts at around $23,000. Kelley's blue book puts a 2006 model, with about 40-thousand miles, closer to $11-thousand. The lower price also means lower sales tax and lower insurance premiums.
Another route is buying a used rental car. The prices are low and the cars are usually no more than a year old, so they're covered by the original warranty. But experts warn these autos take a lot of abuse from rental customers.
Online auctions like
eBay Motors let you check out the marketplace from home. But the cars might be too far away to check out in person, which is why service histories are important.
"If they can't provide you with the service history it's one of those things you kind of have to worry about cause you don't know how it was maintained," explained Consumer Reports Auto Specialist Jon Linkov.
If the seller can't provide the report, use the vehicle identification number to look it up on
Carfax.com to see if it's been in a crash.
All of this extra work can potentially pay off when the rubber meets the road.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
Fabulous Freebies Found Online
Click to enlarge
Stumble It!
Reporting
