Buying a new car vs used car

Last Updated Jun 8, 2011 8:37 AM EDT Even though gas prices have fallen off from their peak near $4 a gallon (see Gas Prices Set to Fall), car shoppers still are looking for models with high gas mileage. With that in mind, Consumer Reports is listing its best bets for fuel economy -- based on their own testing rather than EPA ratings. For comparison 's sake, the magazine also lists the entry with the worst mileage in each class. Summing up the results, David Champion, senior director of the CR auto test center, notes that "hybrid and diesel vehicles provide better fuel economy than conventional cars, but they usually cost more to buy." However, he adds, with gas prices remaining high, the payback periods in gas savings are shorter for that extra expenditure. These results and additional reviews are available in the June issue of the magazine or at the Consumer Reports website if you are a subscriber. To make this list, cars needed not only to have high mpg but also had to meet the … [Read more...] about Consumer Reports: Best Cars for High Gas Mileage

(MoneyWatch) Despite strong new car sales, more shoppers are also considering certified used cars. AutoTrader.com, the largest web site for car ads, reports that five percent more visitors to the site checked out certified cars in April than at the start of this year. When do certified used cars make financial sense? With used-car values overall at near-record highs, you have to shop carefully. But if you can get a carefully inspected vehicle with a manufacturer-backed warranty for at least $5,000 less than a new car or monthly payments close to $200 lower, it is worth consideration, says AutoTrader.com editor Brian Moody. For most brands, certified used cars involve cooperation between manufacturers and their dealers. The dealers select relatively low-mileage cars, often returning from three-year leases. Then they give those cars a detailed inspection as stipulated by the auto makers. Certified cars usually carry a new warranty backed by the manufacturer. 5 used cars NOT to … [Read more...] about When are certified used cars a good deal?