Buying a Car – Do’s and Don’ts
Forget talking heads who come on each week and wax forth on their favorite car. To hear them talk, taking a drive in one is akin to a religious experience. Read more about Wrongful Death Attorney Philadelphia.
Forget those glitzy magazines. They are just trying to sell their latest issue, and think nice pictures tell the story.
If you are in the market for a car, here is what to do.
Whether buying a used or new car, do your homework. Get to the basics. Go to the government statistics about recalls, history of the manufacturer on those recalls, if they have had to comply with unilaterally issued warnings from the government and check their record for the past 10 years.
Then go to an independent magazine like Consumer Report and check not only the model you intend to buy, but its previous versions. It will tell you about the improvements and deficiencies that the manufacturer has addressed over the years.
CARFAX is a useful tool for used car accident history.
Now go to the financial statements of the manufacturer. Find out what percent of his sales he spends in research and development. Some companies spend as much as 2% annually. That tells you that the company is really bent on improving the design and performance of the car. See, so called experts never talk about this. This is what has made German automakers the best in the world, and lack of R& D is what bankrupted US carmakers.
Next, find out how many brands the manufacturer is selling. The more the brands, the less likely it is that he will be able to pay attention to each of the models. His R&D and other costs are diluted over many brands. Again, this is what tanked the US carmakers. If you look at Japanese or German automakers, they never have more than 3 or 4 models and brands. This allows them to really pay attention to each model. It is the equivalent of a class of 40 being taught by one teacher, vs. a class of 20.
Now check the resale value as a percentage of the new car value. If it drops by more than 50% over three years, the car is no good.
Last but not the least drive the car and actually concentrate on the “feel” and the “bounce” and the turns. Forget the glitzy colors and furnishings of the car. They will not make your ride comfortable.