Used cars with scratches may soon heal themselves

Some people refrain from buying a used car because of a few scratches to the paint, but if a new material invented by scientists at the University of Southern Mississippi becomes available to the public, dented cars could fix themselves.

According to research published in the journal Science, scientists at the school have invented a polyurethane coating that if applied to some surfaces, can heal scratches when exposed to ultraviolet light.

“In essence, you create a scratch and that scratch will disappear upon exposure to the sun,” Urban said in an interview on the Science website.
Researchers say the paint could be made into any color and while applications to cars is the first thought that comes to mind to many who hear about the coating, many other products could benefit from it as well.

While the findings may seem like a miracle find for used car buyers, the scientists warn that the paint can only heal the same area once. Repeated damage to one spot will not be able to be fixed – expect through traditional means.

Consumer Reports suggests that used car buyers inspect a car before making a purchase, including looking around the car to point out dents and scratches as it may point to other, more serious problems.

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BMW is the coolest car, says Kelley Blue Book

When it comes to carmakers, image is everything and according to Kelley Blue Book, some automakers have maintained that image better than others with the coolest being BMW.

With its Brand Image Awards, Kelley Blue Book honors the car companies that have captured the enthusiasm and attention of the public. With the awards, BWM took home the most honors, including Coolest Brand, Best Performance Brand and Best Exterior Design Brand – Luxury.

Rick Wainschel, senior vice president of marketing and analytics for Kelley Blue Book and kbb.com, said that carmakers know that their imagine means a lot to people looking to buy new and used cars. The companies that won the awards did this the best.

“The winners of the annual Kelley Blue Book Brand Image Awards showcase the strengths of various automotive brands in the minds of consumers, providing great insight for all auto manufacturers, marketers and agencies on what is clearly resonating with the car-buying public today,” he said.

Also taking home awards were Cadillac, Ford, Mercedes-Benz, Nissan and Toyota.

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FBI warns of internet used car scam

The FBI is warning Americans to beware of a scam that attempts to victimize people looking to purchase cars over the internet.

According to the warning from the FBI’s Internet Crime Complaint Center (IC3), cybercriminals attempt to lure in victims by advertising inexpensive cars for sale on various online classified sites. The FBI says that the ads often claim to use a protection program which the cybercriminal says will lead to a safe transaction.

However, once payment is sent, victims are out both money and a car.

The FBI says that while the scam has been around for some time, a new element of the crime has cybercriminals posing as member of the U.S. military and claiming they need to sell their car quickly and cheaply because they are being sent to Iraq or Afghanistan.

U.S. News and World Report says that when buying a used car, consumers should view and drive the car prior to purchase. The magazine also says that drivers should look at the going price of a car using the websites of the Kelley Blue Book or the National Automotive Dealers Association. If a price seems too low, it may be a sign of an underlying problem.

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Low demand for hybrids might make them a good deal

With the demand for used cars rising as the economy continues to flounder and the interest in hybrids lagging as gas prices remain low, some people think it might be a good time to trade in a late model used car and buy a used hybrid.

Writing for the Freakonomics blog on the New York Times website, Daniel Hamermesh says he’s thinking about doing just that.

Hamermesh says that history has shown that when economic times are tough, people gravitate toward used cars, which could greatly benefit him by trading in his 1999 Honda Civic SI with only 64,000 miles.

He says the trade in would allow him to then make a purchase of a car that’s not in such high demand now meaning it can be had for a steal. Plus although hybrids aren’t selling well at the moment, they’re likely to become popular again in the future when oil returns to more than $100 per barrel.

“I could then buy a new Prius: there are no special price premiums today on the Prius, and I would save money on gasoline now and when gas prices spike again,” he writes.

In a report from USA Today last week, Juan Flores, director of vehicle valuation for Kelley Blue Book said sales of used hybrids are down 23.5 percent since last summer.

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Transmission can affect depreciation

When making a used car purchase, many people take into consideration the amount of depreciation that vehicle will see in the next few years. According to experts, most manual transmissions will lose more money as they age than their automatic counterparts.

According to Ask.cars.com, the amount of depreciation of a manual transmission vehicle depends on a couple of factors, including the make and model.

Automotive Lease Guide general manager James Clark tells the website that in a car segment which is predominantly automatic, a manual transmission is expected to lose more value.

The exception to this rule is sports cars where some drivers like to have the feel of being in more control of the car.

Manuals are also less expensive when purchased new, so it goes to reason that a used manual transmission version of the car would be cheaper than its automatic cousin. For people on a tight budget, this might be a good option to save some additional money.

Whether manual or automatic, according to Cars.com, more people are choosing to make used car purchases because of the economy. A recent survey by the website finds that 32 percent of car buyers who would have normally purchased a new car, bought a used car last month.

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Tips for avoiding a bad used car purchase

Statistics have shown that more Americans are turning to used cars when they decide to make a car purchase, but according to some experts, there are tips car buyers should know before heading to a car lot of used car auction.

According to U.S. News and World Report, although drivers should look for the best price available for a used car, often when the sticker looks too good to be true, it is. The magazine suggests looking at the Kelley Blue Book or National Automotive Dealers Association prices before looking at cars. If the price is well below the suggested price from those sites there may be something wrong.

Experts suggest that you drive a car prior to making any purchase, and the news provider agrees. If a car selling won’t let you drive the car first, you should be a little skeptical.

Another thing to watch out for is missing paperwork. Although it could be just a case of losing some records over the years, it’s best for a potential buyer to do their own research on a used car through sites like Carfax which gives a detailed maintenance report of most cars.

Consumer Reports also suggests that used car buyers do a thorough inspection of any used car before they put their signature on the sales forms.

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Megan Fox and her G-Class

It’s a car suited for traversing the Amazon, but for actress Megan Fox the Mercedes-Benz G-Class is the vehicle she chooses to tame the roads of California’s urban jungle.

Recently Fox was spotted driving a Mercedes G550, which according to the company starts at just over $100,000 – with 4-wheel drive and the ability to go 0-60 in six seconds, the G-Class seems like the perfect car for a Hollywood starlet trying to get away from the paparazzi.

But it’s unlikely G-Class drivers are going to win any environmental awards as the car gets 15 miles per gallon on the highway and an astonishingly low 11 miles per gallon in the city.

However, according to Mercedes, the city is not necessarily the place for the car.

“With 7-speed transmission hitched to a stalwart V-8 engine and three locking differentials for off-road handling, it’s as fun as it is commanding,” says Mercedes-Benz on its website. “For drivers who insist on legendary, the G-Class is the very real answer.”

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Car buyers increasing their loan lengths

It appears that with the state of the economy continuing to falter, Americans are becoming more open to extending the length of their car loans.

In October, the median length of loans in the U.S. was 48 months, according to a survey done by Cars.com. But in another survey from the website last month, the median loan length jumped to 60 months.

Although it looks like car buyers are becoming more willing to spend up to 60 months to pay off their vehicle, the survey finds that a growing number of people are actually extending the length of their loans beyond the five year mark.

The survey from Cars.com finds that the amount of people with loans of either 72 or 84 months increased from 10 percent in October to 26 percent last month.

Patrick Olson, editor in chief of Cars.com warns that taking loans of this length has consumers running the risk of being underwater.

“Obviously, the economy has consumers looking for ways to save by extending loans and cutting monthly payments,” Olsen said. “However, the real risk with that is consumers may wind up upside-down on their loan, owing more money on the car than it’s worth.

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An important step to a used car purchase – the inspection

When purchasing a used car, there are a number of factors that should come into play besides the price and look of the vehicle – most importantly, an inspection.

Although the look and price of a car are likely to be the first things that draw a consumer to a used car, Consumer Reports says used car buyers need to make sure what’s under the hood is working in proper order before making a purchase.

The magazine suggests that drivers look over as much of the car as they can, from checking the condition of the car’s body, to popping in a CD or cassette to make sure the sound system works.

“No matter who you buy from, always look over the vehicle thoroughly and take it to a mechanic for a complete inspection. Dress in old clothes and give the car a good going-over,” writes the news provider. “You can learn a great deal just by using your eyes, ears, and nose.”

Used cars are growing in sales as people find they are an inexpensive alternative to a new car and discover that car reliability has increased dramatically over the last decade.

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Survey finds car buyers are choosing used

It appears that a number of factors, including the state of the economy and the increased reliability of cars over the last decade, are leading Americans to increasingly consider buying a used car over a new one.

According to a new survey from Cars.com, 32 percent of car buyers who would have normally purchased a new car, shopped for a used car because of the state of the economy. That number has risen 5 percent from a similar survey done in October of last year.

Cars.com editor in chief Patrick Olsen said there are an increasing number of benefits to buying a used car.

“Consumers are still focused on cost-cutting, and one way to do that is to find a solid used car to help save on the depreciation costs that typically come with buying a new car,” he said.

Although cost savings is a big factor for the jump in used car sales, another factor driving the purchases is the increase in reliability for new cars over the last decade which has trickled down to the used car market.

A recent report from R.L. Polk & Co. finds that the median age of vehicles in the U.S. is growing and now stands at 9.4 years.

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