Did you know that consumers lose about $4 billion every year thanks to odometer fraud? The average odometer rollback totals to about 15,000 miles — or the average of a year?s worth of use (or more!) for many people. Obviously, if you buy a used car, this is a strong reason to always get a car history report since a jump backward in the odometer reading is going to be pretty hard to miss in typical documentation.
On the other hand, you could, instead, just get a new car. Although many people will agree that buying a car new loses you equity right away, that tends to be an overstatement of how car value really works. It?s important to remember, too, that some of the things we value most about new vehicles — safety, added features, and a perfectly working system — aren?t reflected in a simple value writeup.
So, should you treat yourself to a new vehicle this year? Here are a few factors in their favor.
1. New Cars are More Energy Efficient
Hate spending $50 to fill your gas tank even in these days of historic low oil prices? Maybe what you want is a new car capable of getting 30 to 40 miles on the gallon. And as Consumer Reports points out, these historic lows aren?t going to stay low forever. Not surprisingly, hybrid and electric cars get incredible numbers — the Nissan Leaf gets an average of 106 miles to the gallon. But even cars like the Honda CR-Z get 35 miles overall.
2. Many Amazing Features are Now Standard
Car companies are always looking for ways to upgrade what they offer. Services that used to be extras for luxury cars are often now standard in many models — or available to upgrade to, for a fee. Keyless entry fobs can cost you just $50 more on some vehicles, for example. Heated seats, USB ports, and Sirius radio are often coming standard now for many new vehicles.
3. Your Car Works Perfectly
Have you ever been driving what could, at best, be referred to a ?clunker car? only to have it stop in the middle of the highway while you desperately try to get it to start or get out of the way? Sometimes having a new car isn?t just about new features — it?s about knowing the full history of your car and having a vehicle that works perfectly. Newer cars tend to have less repair issues than older cars as manufacturers continue to approve their approach.
If you’re planning on going to a car dealership this summer, you my have been thinking of getting a used car. Perhaps, though, this can be your opportunity to try out something new?
