Trying to decide on new or used vehicle not as simple as it seems
Posted Mar 5, 2010 By Brian Turner
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Tweet ThisEMC Lifestyle - The following is the second part in a series geared toward those looking to buy their first car.
Last week we ran down a list of questions any car buyer needs to ask themselves when looking for a set of wheels. These are critical for the first-timer as they don't have any history to draw upon like repeat buyers. As a quick review the basics are,
- Who - will be the primary driver?
- Where - will the vehicle be driven and how far?
- What - will be carried in terms of passengers and cargo?
- Why - is the vehicle necessary?
- How - will the vehicle and its upkeep be financed?
Although small fuel efficient cars are popular, they're not necessarily right for everyone. But a vehicle should be sized and selected for 99 per cent of its intended use, not one per cent. So, if once a month, it will be your turn to ferry the soccer team or the carpool gang, and the rest of the time it will be just you and the radio, then select the vehicle that fits the majority of its daily use and consider borrowing or renting for those rare times when more space or capability is needed.
New or used, that's the question! Even if you can afford a new vehicle right off the bat, looking at pre-owned autos can be a smart way to save thousands off the purchase price. The majority of used vehicles on mainstream dealership lots these days are ex-daily rentals, or company demos and many come with a large portion of the factory warranty remaining. One big warning here is to watch for vehicles imported as used from the U.S. Most auto makers don't provide any warranty coverage for these 'imports', leaving dealers to sell lower valued after-market warranties to provide some type of guarantee. These non-manufacturer backed plans cover far fewer components and seldom pay extended diagnostic labour if needed. As well they are not automatically accepted at other dealerships.
A general rule of thumb for used vehicles to remember is their serviceable lifespan is 10 years or 250,000 km. That's not to say certain examples can go much farther or fail much sooner, but you can count on a vehicle of this vintage being much more expensive to keep on the road. And the original sticker price is no indication of how long a vehicle will last. The scrap yards are just as full of Mercedes and Jaguars as they are with Chevrolets and Dodges on a per capita basis.
If you're mechanically inclined, like to tinker with cars, and have a good working relationship with a parts store, an older used car may be for you. But for the majority, reliable transportation is what it's all about.
Domestics versus Imports. No matter what your uncle or grandfather or water-cooler expert tells you, the lines marking the expense of maintaining imports versus their superiority over domestics have gotten quite fuzzy in recent years. First, it's even hard to define a domestic car company these days with global ownership of most car makers and with Canadian plants manufacturing for off-shore head offices. And of course the 2009 meltdown of the auto industry has changed a lot of assumptions and misconceptions about what brand to trust over another. But if you want cheap car ownership, stick to models that were mass produced in large numbers and carry good consumer ratings. This could mean a Honda or a Chrysler or a Mazda or a Ford.
Consumer Reports or Phil Edmonston's Lemon-Aid books are great resources for unbiased reviews of what to buy or what to give a pass on. The Consumer Report is available for a fee online at www.consumerreport.org and Phil's books can be found at most book stores or free at the local library. (You can even find a ballot in this paper to win a free copy of Phil's latest car and truck guide).
When you get your car shopping list narrowed down to one or two choices, contact a trusted independent repair shop and ask the shop owner or a tech their opinion. This will go a long way to help you make the right choice and will also help you build a tool that will save you thousands over your vehicle ownership career, a good working relationship with a repair shop.
Next week we'll talk dollars and cents and how to save both.
Yours in service,
Brian Turner
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