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Democratic Women's Caucus

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Renee Hayes
Renee Hayes

Used Cars Not To Buy [UPDATED]



The all-wheel-drive Outback is a rugged, high-mileage workhorse of a car that can be relied on to continue to provide a low-maintenance, low-cost of ownership experience even when buying a used model from upwards of a dozen years ago. Subarus are often considered good values both used and new.




used cars not to buy



Thanks to a generous five-year, 60,000-mile warranty, many used Hyundais may still be covered when they hit the used car market. Add to that the extra benefit of a used sticker price about $10,000 less than the original cost for a three-year-old Sonata and you have one of the best used car deals available. You may need an affordable used car in a hurry if you see one of these 14 signs that your car is about to die.


They are almost too cute and have European style to spare, but the reliability of Mini models pretty much across the board, from the Roadster to the Clubman and including the classic Mini Cooper itself, drags down their value in the used car market. You will end up paying too much at the repair shop for this one.


People spend a lot of money on their cars and trucks. In fact, about 16% of the average American's total budget goes to transportation, including vehicle costs and fuel. That makes it the second-biggest expenditure after housing but before incidentals like food, education, and saving for retirement.


If you don't need a tall driving position and rarely travel in deep snow, a traditional car might be a better choice, however. Whether in the form of a sedan, coupe, convertible or station wagon, cars tend to be lighter and have a lower center of gravity than crossovers, which aids efficiency and handling.


The Covid pandemic has muted depreciation, however, and prices for used cars are growing faster than for new. As the price gap narrows, buying new becomes more appealing because the vehicles are in better condition, plus, they have a full warranty and can be financed at a lower rate.


Used Teslas have done particularly well of late, as gas prices have risen, spurring more interest in EVs and the economics of recharging versus filling up. The popular all-electric vehicles are now averaging $65,000 on the used marketplace, coming close to their cost when new.


Another option is to use a no-haggle dealership, typified by CarMax, Vroom and Carvana. These companies can charge more than traditional dealerships, but generally score positive reviews from consumers. Each promises stress-free shopping with a non-negotiable price and money back guarantees, plus large and easy-to-search inventories. Each will also deliver a new car right to your door, in most instances. Unlike the others, CarMax also offers physical locations where shoppers can peruse cars.


Under normal circumstances, a car shopper might be advised to wait for the end of the month because that's when many dealers are looking to make quotas and are more likely to negotiate. They might also be told to look for cars that are being discontinued or redesigned because dealers want to get them off the lot.


She recently found herself having to shop for two vehicles on opposite ends of the market. For herself, she wanted a late-model electric Audi, and after looking around, she was able to find a used 2021 e-tron at a local dealership.


The Manheim Index is based on millions of used vehicle transactions per year and measures value "independent of underlying shifts in the characteristics of vehicles being sold." It expresses value relative to January 1995 (when the index was set at 100). Manheim Consulting/Cox Automotive/Camila Domonoske hide caption


Auto executives have told investors that these very profitable months have made them realize they may have been making too many cars before. At some points in 2019, there were 4 million cars waiting to be sold; the current stockpile is around a million vehicles.


New and used cars have better reliability, safety, fuel economy and tech than ever before and all are becoming more affordable with time. Even so, there are a handful of used cars that you should avoid, though this doesn't necessarily mean they're bad vehicles.


Buying a car continues to be a challenge amid record-high inflation, support shortages and increasing interest rates. Since the beginning of the Covid-19 pandemic, new and used car prices have risen dramatically, leaving buyers with limited choices for finding affordable vehicles.


According to a recent report by Cox Automotive, the number of new and unsold vehicles available held steady at 1.09 million. While this was technically a small improvement over last year's 1.07 million vehicles available, the numbers are still nowhere near what they used to be prior to the pandemic, when there were easily 2.55 million vehicles available in July 2020 or 3.69 million vehicles available in July 2019.


Shefska also says used car prices have been dropping since the start of the summer and may continue to fall. That's because wholesale prices have decreased, paving the way for dealerships to also be able to lower their prices. That said, there was a small spike mid-summer, which brought the average used car price to just over $28,000 in July 2022.


Kelley Blue Book states that real savings can be had when it comes to purchasing larger vehicles such as SUVs and pickup trucks since consumers have veered away from less full-efficient vehicles amid recent spikes in gas prices. Savings on smaller compact cars, meanwhile, can be more difficult to find.


On the flip side, the risks involved with purchasing a used car are increased with every prior owner. An incomplete service book for a vehicle with numerous previous owners may indicate a hidden problem with the car.


With that said, certified pre-owned cars are an excellent option for prospective buyers. These vehicles are no more than five years old with under 50,000 miles on the odometer, and have been regularly serviced and maintained by the dealership.


The age-old adage is that the 100,000-mile mark was indicative of a car past its prime. But despite their complexities, modern vehicles are even more reliable, thanks to a multitude of technological advancements. In general, most modern cars can cross 200,000 miles without any major issues, provided the vehicle is being well-maintained. Considering that an average person drives 10,000-20,000 miles per year, this will account for roughly 15 years of service.


Most car dealers who sell used vehicles must comply with the Federal Trade Commission's (FTC's) Used Car Rule. In fact, car dealers who sell, or offer for sale, more than five used vehicles in a 12-month period must comply with the Rule. Banks and financial institutions are exempt from the Rule, as are businesses that sell vehicles to their employees, and lessors who sell a leased vehicle to a lessee, an employee of the lessee, or a buyer found by the lessee.


The Used Car Rule applies in all states except Maine and Wisconsin. These two states are exempt because they have similar regulations that require dealers to post disclosures on used vehicles. The Rule applies in the District of Columbia, Puerto Rico, Guam, the U.S. Virgin Islands, and American Samoa.


You must post a Buyers Guide before you display a vehicle for sale or let a customer inspect it for the purpose of buying it, even if the car is not fully prepared for delivery. You also must display a Buyers Guide on used vehicles for sale on your lot through consignment, power of attorney, or other agreement. At public auctions, dealers and the auction company must comply. The Rule does not apply at auctions that are closed to consumers.


Previously titled or not, any vehicle driven for purposes other than moving or test driving is considered a used vehicle, including light-duty vans, light-duty trucks, demonstrators, and program cars that meet the following specifications:


State Law. In some states, use of the "As Is-No Dealer Warranty" Buyers Guide may be legally sufficient to eliminate implied warranties. In other states "as is" sales are allowed only if specific action is taken or certain language is used. For example, some states may require you to eliminate implied warranties by using special language and/or a document other than the Guide.


The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.


This information provides answers to some of the more frequently asked questions regarding the purchase of a used car. It specifically covers the purchase of used cars and light trucks from a licensed dealer.


As you consider purchasing a used vehicle, remember that you may ask to have the vehicle inspected by your own mechanic, at your expense. You may also consult with your lender, insurance agent and attorney to discuss the financing, insurance coverage and purchase terms.


I bought a used car from a dealer and now I've changed my mind. Can I return the car and get my money back? Under most circumstances you cannot return the car only because you have changed your mind. While products sold to you at home (door to door) may be returned within 3 days if you change your mind, Maine law does not allow a "cooling off" period for sales taking place outside of the home, such as used cars purchased from a dealer.


I put a deposit on a used car but did not take delivery. Is the dealer required to return my deposit if I change my mind? It depends on the dealer's policy. While Maine law does not require that the deposit be returned, it does require the dealer to provide you with a written copy of its deposit policy. Therefore, it is important to ask about the deposit policy and read all documents carefully before you place a deposit on a used car. 041b061a72


About

The Richland County Democratic Women's Caucus is a caucus of...

Members

  • Julian Collins
    Julian Collins
  • Matthew Diaz
    Matthew Diaz
  • JC Elgin
  • Renee Hayes
    Renee Hayes
  • Rezo Titov
    Rezo Titov
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