6. Fuel Efficiency
How many miles per gallon a car gets is high on everyone's list of priorities these days. But it's important not to split hairs over small differences in fuel economy.
According to the website fueleconomy.gov, the difference in yearly fuel costs between a vehicle rated at 16 mpg city/22 mpg highway, or 18 mpg combined, and one rated at 17/24 mpg, or 19 mpg combined, is a scant $122 per year.
So unless there is a significant efficiency difference between two autos (5 mpg or more), don't get too worked up about it.
7. Safety Rating
Safety is a big issue, no matter what the car's cost. While a bigger, heavier vehicle will usually be able to withstand more damage, technology has gone a long way in making even today's smallest vehicles safer than ever before. Everything from simple passive restraints to front and side airbags to high-tech collision avoidance systems all factor into the safety equation these days.
Thus, it's important to know how well a car performed in safety tests. Those ratings can be found at the websites nhtsa.gov, iihs.org and safercar.gov.
Read: Electronic Stability Control — More Models Going Standard
8. Financing Rates
Know your credit score. We quizzed a number of finance officers from dealerships around the country and they all said the same thing: Availability and cost of financing come down to the buyer's credit rating.
A score of 720 and up will garner the best interest rates, currently 3 to 4 percent, while a score below 620 will result in much higher rates, from 10 percent up to the state-allowed maximum. So get your financial house in order before you begin negotiating.
9. Rebates and Incentives
Some amazing discounts are available in today's depressed car market. Offers are usually posted on automakers' websites. Rebates and cash incentives are given to military personnel, loyal customers, recent college graduates, teachers, law enforcement officials and others.
They are even offered just for walking through the front door. Typically, these buyers are given a choice between a low finance rate or cash back, but rarely both. The catch is you'll need good credit to qualify for the low rate. All buyers, no matter their circumstance, will get the "cash back" incentive.
Read: Looking Good at Any Price
10. Warranty
Warranties provide peace of mind to the purchaser. Generally speaking, they cover defects in material or factory workmanship, under normal use and maintenance. Automakers are offering warranty durations from three years/36,000 miles up to 10 years/100,000 miles.
As you might imagine, not all warranties are created equal. The most quoted warranty is for the powertrain. But automakers also offer new-vehicle warranties that cover items such as the audio system, exterior paint, air conditioning, battery, etc., as well as anti-perforation warranties for rust and corrosion. The ones that offer both are ideal.
Evan Griffey served as an editor of Turbo & High Tech Performance, a pioneering publication about sport-compact tuning. Today Griffey freelances for Import Tuner, Sport Compact Car, Car Audio and Siphon.
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