Credit freezes are free under a federal law that just went into effect. Learn how to protect your credit.
by Tauren Dyson, AARP Bulletin, October 13, 2010
In these tough times, people who once looked down on used cars now view them as a serious alternative to a new vehicle.
"As soon as the economy went sour, people immediately had a mind-shift from new cars to used cars," says Philip Reed, senior consumer advice editor at Edmunds.com, an online automotive information site.
The savings can be substantial, because a car's value drops up to 30 percent the first year it's on the road.
Edmunds.com lists the manufacturer's suggested retail price of a basic-model 2011 Chevy Aveo as $11,965, while a 2008 Aveo with 28,215 miles on the odometer was available in late August for $8,962. A 2011 Toyota Camry LE with automatic transmission was listed at $22,255, while a 2008 model with 55,066 miles could be found for $12,271.
Besides sticker price, there are plenty of other good reasons to choose a used car, according to Edmunds: lower insurance costs, the wide availability of cars covered by warranty, and the ease of tracing a vehicle's history.
But what's the best way to pick a used car? Here's some advice:
Tauren Dyson is an intern at the AARP Bulletin.
Please leave your comment below.
You must be logged in to leave a comment.
Members can print free coupons at the Grocery Coupon Center powered by Coupons.com.
Members save 25% on purchases of $200+ and get free basic lenses or 25% off lens upgrades.
Members save 10% on their check every day.
AARP members receive exclusive member benefits & affect social change.
You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits.
Your email address is now confirmed.
Manage your email preferences and tell us which topics interest you so that we can prioritize the information you receive.
Explore all that AARP has to offer.
In the next 24 hours, you will receive an email to confirm your subscription to receive emails
related to AARP volunteering. Once you confirm that subscription, you will regularly
receive communications related to AARP volunteering. In the meantime, please feel free
to search for ways to make a difference in your community at