Daily coverage of the world of cars.
Debt continues to increase while wages lag, and many Americans struggle to purchase a new car. In fact, affordability represents the most severe headwind causing the decline in vehicle sales, which are down 2.0% calendar year to date (CYTD) 2019.
[Read more…] about Could Forgiveness of Student Loans Lead to a New Peak in New-Vehicle Sales?
New-car shoppers continually debate between buying a fully loaded economy vehicle or a base-trim premium car.
When buyers realize that $40,000 can either buy a Kia or a Volvo, some interesting comparisons arise. Is it better to get a lower-end brand with the latest high-end features or a luxury brand that’s missing some desirable options?
For the sake of comparison, I spent the weekend shopping for two vehicles: a 2016 Volvo XC90 T5 FWD Momentum and a 2017 Kia Sorento Limited V6.
The base price of the Volvo is $2,450 more than that of the loaded Kia. Is the extra cost worth it?
I remember the day the world changed.
We tend to remember exactly where we were when momentous events mark a distinct “before” and “after” in our lives.
In this particular case, many years ago I was watching television, casually unaware my world would change with the very next advertisement.
It was an ad from Hyundai, the laughable Korean car company, promoting a 10-year, 100,000-mile warranty.
“How could this be?” I thought, “Cars aren’t even supposed to last much past 100,000 miles.”
Of course, today we all know differently, as cars routinely pass that mark and even double it.
The 100,000-mile warranty has become standard fare for Hyundai and Kia and even inspired General Motors and Chrysler to add (and then revoke) 100,000-mile warranties.
Now there’s another warranty on the market that might keep pace with the life of current vehicles: the 20-year, 200,000-mile warranty.