Now is the time to go car-shopping; if you have the extra money laying that is. The recession has resulted in great value opportunities out there. Car sales are down across the board, and this creates a glut in the general supply. Used-vehicle registrations have decreased nationally over 7%, and new-car registrations are down a staggering 34.8%, according to Illinois consulting firm, Experian Automotive.
According to Experians comprehensive analysis of best and worst used-cars, the Honda CR-V and the Lexus ES are the two best used-car buys today, given their reliability and residual value. The two worst according to the same analysis, were the Chrysler Sebring and Dodge Grand Caravan.
Also found to be favorable by the study are the Subaru Impreza (both the WRX and mainline versions), and for those who lead a less rugged lifestyle, the Toyota Prius, which retains 40% of its value after 5 years, while the typical car hold only 20%-25%.
-By: Stephen Calogera