Buying your next car

Driving down the road I have started noticing new and unusual sounds emanating from within my trusty 1994 pickup, which recently reached 186,000 miles on the odometer, so I reluctantly began my search for a different vehicle. Notice that I didn’t say “New” since it may be a used vehicle (does anyone ever remember seeing a “pre-owned” pickup)? So it started me thinking about what I should be looking for; new or used, truck or car, which manufacturer, and what kind of gas mileage I want. Searching the internet, I ran across this interesting article available from UKFCU’s Home & Family Finance center.

Why You Might Want a Small Euro Car
by Jerry Edgerton

In past decades, Detroit auto companies have stumbled trying to sell the U.S. consumer on small cars that were popular in Europe. But with gas seemingly perched permanently near $3 a gallon and Americans shopping more for high mileage, Ford Motor Co. and General Motors are betting that will change. Two Ford models and one Chevrolet already selling well in Europe will go on sale here soon. All three aim to get nearly 40 miles per gallon (mpg) in highway driving.

The three models could expand consumers’ choices among small cars, analysts say. The 2011 Chevrolet Cruze, sold in Europe as a model in GM’s Opel lineup, will go on sale this fall. The Cruze and the 2012 Ford Focus, available next year, will compete directly with compact car leaders such as the Honda Civic, Toyota Corolla, and Volkswagen Golf. The smaller 2011 Ford Fiesta, available next month, will challenge small, high-mileage cars already selling well here, such as the Honda Fit and Nissan Versa.

These new Euro cars will offer options not typical in the small car category, such as leather seats and navigation systems, says Jessica Caldwell, director of pricing and industry analysis for auto information Web site Edmunds.com. “People may be willing to consider these smaller cars if they are getting all the features and comfort that you expect in larger cars,” she adds. In addition, those ratings of 40 mpg in highway cruising will be an attraction. “People have come to accept that gas will remain expensive, and high mpg has become a major shopping point and a major factor in car advertising,” says Caldwell.

For the complete article, click here

Of course, I have to remind you that UKFCU has great Auto Loan rates!

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