Car Buying and Maintenance Advice

This topic covers comprehensive advice and insights for consumers looking to buy a new or used car, including financing options, avoiding common pitfalls, and understanding market trends. It provides guidance on evaluating vehicle prices, the pros and cons of buying older models, and navigating the complexities of car loans. Additionally, it offers tips on maintaining vehicles, handling recalls, and the importance of extended warranties. The content also touches on emerging trends like electric vehicles and the evolving car buying process influenced by technology and market conditions.

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Here are the used car models whose prices are falling, not rising

Tesla tops the list for steepest declines

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The Tesla Model S lost more value than any other used car over the past year

While overall used car prices increased 1% last month, the 20 used cars with the biggest price drops lost between 6.8% and 17.2% or their value

Half of the top 10 used cars with the biggest price drops are EVs, including the Tesla Model S, Porsche Taycan, Tesla Model Y, Tesla Model 3, and Hyundai Kona Electric.

The new cars on dealer lots, imported before 25% tariffs went into effect, are tariff-fr...

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Here are the best states to buy a used car

Finally, used car prices are starting to fall. The January Consumer Price Index (CPI) shows the cost of used cars declined 3.4% since December.

However, the price you will pay for the same model used car or truck can vary widely, depending on where you live. Data compiled by iSeeCars.com show there is a $10,000 difference in the price of a used car between the cheapest and most expensive states.

“Price is ultimately a reflection of supply versus demand, with smaller New England states like New Hampshire and Vermont having plenty of used cars relative to their populations,” Karl Brauer, executive analyst at iSeeCars.com, told ConsumerAffairs. “The opposite is true in many central and western states, with too many buyers and not enough vehicles to go around.”

Taxes also play a role the cost of a vehicle. States with low sales taxes can reduce the cost by several hundred dollars on an expensive vehicle.

But can you actually shop for a used car or truck in another state? If you can save thousands of dollars, you can. And you don’t have to travel to that state to complete the purchase. An auto transport service can deliver the vehicle to your driveway.

How the states rank

Here is how all 50 states rank when it comes to average used car prices.

1.Vermont$31,44526. Utah$34,580
2. New Hampshire$31,83327. Tennessee$34,658
3. Ohio$32,26728. North Carolina$34,725
4. Hawaii$32,38129. Nevada$34,859
5. Rhode Island$32,78930. South Carolina$35,015
6. Delaware$32,92431. Texas$35,061
7. Indiana$32,93632. Nebraska$35,064
8. Connecticut$32,99133. New Mexico$35,189
9. Pennsylvania$33,09734. Illinois$35,217
10. Massachusetts$33,23235. Colorado$35,269
11. New York$33,24636. Kansas$35,323
12. Maryland$33,37737. Oklahoma$35,509
13. Missouri$33,59638. Oregon$35,556
14. Michigan$33,59739. Iowa$35,750
15. Virginia$33,72440. California$35,759
16. Maine$33,75841. Louisiana$35,893
17. Minnesota$33,75842. Georgia$36,016
18. West Virginia$33,76143. Washington$36,119
19. New Jersey$33,93644. Arkansas$36,343
20. Wisconsin$34,01845. Idaho$37,092
21. Mississippi$34,13046. South Dakota$37,192
22. Kentucky$34,17647. North Dakota$37,773
23. Alabama$34,20648. Montana$38,943
24. Arizona$34,41349. Alaska$40,462
25. Florida$34,51950. Wyoming$41,405

Finally, used car prices are starting to fall. The January Consumer Price Index (CPI) shows the cost of used cars declined 3.4% since December.However,...

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Many states also offer incentives to buy EVs and hybrids

The U.S. government really wants you to buy an electric vehicle (EV). That’s why it is offering a $7,500 tax credit for the purchase of some EVs.

But a number of states also offer some financial incentives, including state tax credits, on the purchase of an EV. If you happen to live in one of those states, an EV might be more affordable than you think.

For example, Washington is launching incentives, including rebates and sales tax exemptions if you purchase a new or used EV. It also applies to plug-in hybrids. Rhode Island is handing out rebates for eligible new battery or plug-in hybrids. Massachusetts also provides EV tax rebates.

Connecticut offers up to $7,500 in tax credits through the Connecticut Hydrogen and Electric Automobile Purchase Rebate program when they buy or lease an eligible battery electric, plug-in hybrid electric, or fuel cell electric vehicle.

New York recently launched an incentive program called "Drive Clean" that offers rebates of up to $2,000 on EV purchases or leases. There’s a new proposal in New Mexico to offer a $3,000 tax credit on new EVs, $1,500 for used ones, and $2,000 for new hybrid cars from 2024 through 2026. 

Pennsylvania residents who meet eligibility requirements can qualify for a rebate of up to $3,000 on the purchase of a plug-in hybrid and an electric motorcycle. In neighboring New Jersey, the state tax credit is as much as $4,000.

Tax breaks

Other states are offering encouragement by not taxing your EV, or at least not as much as other vehicles.

The District of Columbia offers a reduced auto registration fee for the first two years of owning a hybrid or EV. Some Florida residents may get a $50 gift card from the Orlando Utilities Commission just for test-driving an EV.

Some states actually charge motorists more if they own an EV or hybrid. That’s because a lot of state revenue for road maintenance comes in the form of the gasoline tax. State bean counters figure that if you aren’t buying as much gas, you’re shortchanging the state, so they charge an extra fee.

But a number of states don’t charge that extra fee. In addition to the states listed above, here are the states that don’t impose an extra registration fee on EVs:

  • Alaska

  • Arizona

  • Delaware

  • Maine

  • Maryland

  • Montana

  • Nevada

  • New Mexico

The U.S. government really wants you to buy an electric vehicle (EV). That’s why it is offering a $7,500 tax credit for the purchase of some EVs.But a...

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Car deals -- and advice -- are showing up on TikTok

TikTok may be the most unlikely place for consumers and car dealers to meet up, but that’s about to change.

As a recent NADA convention wrapped up, panelists took to a Live Stage session to share how car dealers are using the social media platform to their advantage.

It’s taken more than a year after TikTok rolled out its auto dealers “playbook,” but with TikTok trying to grow beyond its silly video stage, car dealerships are using the platform to showcase their inventory and engage with potential customers.

And this effort cuts both ways. By following and interacting with dealership accounts, consumers can stay informed about special promotions, discounts, or contests that may be exclusive to TikTok users.

During the NADA Live Stage session, panelists explored how car dealers are leveraging TikTok to drive sales. However, they warned auto dealers not to get too cool for the room. Stick to engaging storytelling, do behind-the-scenes looks at the dealership and collaborate with influencers and creators.

Drake Baerresen, vice president & CMO at TurnKey Marketing, advised, “Don’t overthink it,” suggesting that dealers start with content they think is interesting – test drive reviews, new models, technology and other features, and accessories – and stick with that. 

Shake it off!

As it just so happens, there are lots of TikTok’ers working to the auto buyer’s advantage, too. One TikTok’er whose videos are dominating  #carbuyingtips and other hashtags is @reddne, a one-time car salesperson who decided to spill the beans on her former career. In one of her videos on how to cut a better deal, she advises consumers to watch what they say and do when it comes to talking about their trade-in.

For one thing, never tell a dealership what you want, price-wise, out of your trade-in. She says consumers shouldn't tell the salesperson they have a trade-in until the price of the new car is exactly what they want because the dealership will offer a better price.

"There's a chance they were going to give you more but since you told them something less they're gonna go with the lesser," she explained to viewers.

Another is don’t take the bait if a salesperson starts pointing out things that are “wrong” with your vehicle.

"When they walk around your trade-in, they're going to quietly touch little dents and dings, that way they can get you to tell on yourself so when they give you a lowball offer, they can use that against you," she said

And then there’s the head shake-along. She says that the salesperson might try to get you to nod affirmatively to questions like “Wouldn’t heated seats be great when the weather is cold?” 

One trick that most consumers don’t realize exists is that they actually have the ability to cut their own deal when it comes to the interest rate.

"The bank is going to give them one interest rate and they can easily go in and up the percentage just so they can make money off of you," she said.

"The finance guys are going to try to get you to buy their warranty because they're going to make money off of you.

"But you can use that to your advantage, 'I'm going to buy the warranty if you give me a lower interest rate.’”

@reddnea Replying to @live.laugh.love.90 part 3?? (also beware of the dealers popping up in the comments lol) #carbuyingtips#car#dealership#newcar#hacks#beware#fyp#reply♬ original sound - kaitlynd!

Car dealer “bait and switch” TikTok scams reported

Vladimir Supica at The Daily Dot recently reported that shady auto sellers are hip to TikTok’s auto buying uptick and using the platform to use tactics such as the bait-and-switch – something the FTC recently got serious about – where a dealership may advertise a great offer to lure customers in and then attempt to sell them a different, more expensive vehicle. 

One TikTok user – Nilsa (@nilsaprowant) –  went public with her experience to help others identify and avoid such scams.

Nilsa said that it all started when she had a service appointment and got a call from the dealership about an hour before she was due to take her car in. The caller told Nilsa that they had someone interested in buying her car—and offered her a newer car for a cheaper price.

Nilsa was interested in the offer because she was searching for a more affordable vehicle. But, alas, when she arrived at the dealership, she was told that the specific car she wanted to see had already been sold. And, you guessed it – a more expensive car was offered instead. 

She wasn’t having anything to do with the ‘ol “we’re interested in your car” trick and told the dealership “I definitely want a cheaper car. I’m not buying brand new,” to which the worker responded, “You know what, we just don’t have anything.”

@nilsaprowant

Is this really a trick they do to get you to buy a new car?

♬ original sound - Nilsa

“This isn’t the first time car dealerships have been criticized on the video-sharing platform,” The Daily Dot’s Vladimir Supica said. In October of 2023, car salesmen went viral for sharing what you should never say at a dealership. In October of 2022, another creator went viral with similar bait-and-switch scam allegations.”

TikTok may be the most unlikely place for consumers and car dealers to meet up, but that’s about to change.As a recent NADA convention wrapped up, pane...

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Yes, you can buy a car if you have bad credit

It’s hard enough to buy a car these days, but if you’ve got a low credit score the task is even more difficult.

Lenders set interest rates based on the buyer’s credit standing. A credit score of 740 or higher usually gets you the best rate. A not so good score will usually relegate a buyer to the subprime category, with double-digit interest rates.

Over the life of a five-year loan with a subprime interest rate the difference in what you pay is enormous. Someone with excellent credit might get a 2.96% interest rate with an $808 monthly payment. Over five years they’ll pay $3,480 in interest.

Someone with poor credit might get stuck with a 12.84% interest rate and a $1,021 monthly payment. At the end of five years they will  have paid over $16,000 in interest.

Eight tips

In a recent study, the ConsumerAffairs research team identified eight tips for buying a car with bad credit.

  • Delay the purchase until you can raise your credit score

  • Make a bigger down payment

  • Shop around for both the car and the financing

  • Limit your search to two weeks

  • Look for newer rather than older vehicles

  • Opt for a shorter term, even though it will increase the payment

  • Get pre-approved before shopping]

  • Find someone with good credit to co-sign your loan

How to raise your credit score

If you can delay the purchase by six months, that might be the best course of action. By proactively working to improve your credit standing you should be able to raise your credit score by several points.

First and foremost, pay every bill on time. This is especially true for credit card bills. Pay down the balances as much as possible since the difference between your credit limit and how much you owe is a big factor in determining your credit score.

You may be able to instantly add a few points by signing up for Experian Boost, a free program that reports on-time payments for regular bills like utilities, cell phones and streaming services to the credit bureaus.

Where you get your car loan can also make a difference. If you bank with a credit union, it will likely give you the lowest interest rate. Some car dealers will advertise they have financing plans for all types of credit scores, but borrowers with lower credit scores often get saddled with a very high interest rate.

It’s hard enough to buy a car these days, but if you’ve got a low credit score the task is even more difficult.Lenders set interest rates based on the...