Due Diligence in Today's Automotive Market

I've been reviewing articles comparing reliability, MPG efficiency, and the true cost to own of various cars. Would you believe there is no such thing as an article that lists cars by all three variables? It's as if we're asking for miracles or something...

As the US car industry promises to move forward in leaps and bounds, many aren't holding their breath waiting for it to happen. Previously trusty brands such as Toyota and Honda are almost continuously in the news when yet another recall takes place and their rankings continue to drop on reliability lists. Major natural disasters and model redesigns are two major risks to watch out for.

What's more important to you? Purchase price, reliability, MPG efficiency, true cost to own, or brand?

The more I read, and the harder it is to find a happy medium, the more I'm starting to lean towards ignoring the auto industry until it grows up. In an ideal world, this outright boycott would work. In the real world, you pay off your loan hopefully in time to get rid of your wheels before it starts being a money pit. The real world is depressing isn't it?

What to do? Well, pick a car category, and research the heck out of it. Find out if redesigns were recently made to a particular line, or whether they're scheduled to occur soon--tip: new models or redesigns are typically released overseas before the US gets them.

How is the company's stock faring? What news can you scour up about it? Although it sucks when a company keeps redesigning its models, and yours becomes outdated as fast as your smartphone, it's not an issue if looks and brand aren't your cup of tea.

Make a spreadsheet for the vehicles you're seriously considering. Scour reviews, magazines, forums, and Wikipedia for statistics such as torque, mpg, engines, costs, reliability, and other such items. Keep track of your thoughts and reactions as well, don't rely on your memory.

Ask people at the gas station/friends/neighbors/coworkers how their car experience has been.

Spend some time reading comments under articles, blog posts, and other sources of unedited venting, past the flamers, you'll be bound to find some valuable kernels of truth. Write these down on your spreadsheet.

Explore as much as you can face-to-face during auto shows. The investment of an auto show ticket is priceless when it comes to the hands on visual experience.

Look at everything, and I mean everything. Don't push out a particular make even though they make a model in the category you're looking for. You never know how invaluable their information can be to compare your ideal vehicle against.

Due diligence beats regret any day! Make a decision and never look back.