Tuesday, June 12, 2007

Money-Losing Cars

Reported by: John Matarese |WCPO ABC Channel 9 News

When you buy a new car, the last thing most of us do is think about trade-in time.

But you should ... because a fast, depreciating car can cost you a lot of money over four or five years.

That Chrysler Sebring looks great ... but don't buy it for resale value!

It's on the list of fastest depreciating cars, according to Kelly Blue Book and the Auto Lease Guide.

On the list: the Sebring, its sister the Dodge Stratus, the Kia Rio, and Hyundai Elantra.

SUVs and minivans include the Buick Rendezvous, Ford Freestar, Chevy Uplander, and Isuzu Ascender.

But there is a positive side, if you're in the market for a used car.

My advice ... consider these cars ... they can be a bargain on the used car lot!

And from the "Doesn't That Stink File" – Discontinued Hybrid Cars!

But even with $3.00 gas, Honda is pulling the plug on the Accord Hybrid, which has me saying, "Doesn't that stink!"

Why? Because the Accord Hybrid never became a sales hit like the Toyota Prius.

Auto experts say that's because its gas mileage was only slightly better than the regular Accord – but it was much more expensive.

That stinks!

It turns out hybrid buyers want good mileage over everything else.

As always, "Don't Waster Your Money!"

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