More often than not, it makes financial sense to purchase used cars rather than brand new ones. Once that shiny new model is sold and driven off the lot, the car's value has already started its downward spiral. By buying used cars; especially late-model examples, you effectively let the first owner depreciate it for you. This can result in a savings of thousands of dollars.
But what do you do in this scenario? Let's suppose that you buy a used car and congratulate yourself for paying 40-50% less than the sticker price of the same new model; or for that matter, something comparable. A few months pass and the nightmare unfolds. The brakes are grinding metal against metal. Assuming that there was some semblance of a warranty at the time of purchase, you discover that this component is not covered. You pay $300 for a brake job. Next, some sensor goes out and leaves you stranded 10 miles from the nearest town. You have to call a towing service. The bill for this rescue mission sets you back a couple of hundred dollars. In addition, your warranty has a $100 deductible stipulation. The repair costs $150, so $100 of that comes out of your pocket. Next, your air-conditioner's compressor decides to fail. It's 95 degrees outside, and you are faced with no option but to turn on the vents while hot air blows in your face. Over the next year, other annoying incidents such as these occur, and you keep forking out that $100 deductible on each occasion. Then, exactly a week to the day after your used-car warranty expires, the transmission fails. When you are told that it will cost $2500 to repair, you take the time to add up all of the expenses you've incurred since buying the car. You're shocked with utter disbelief when you discover that you have spent more in repairs than what you initially saved by buying a used car in the first place. A seemingly great deal didn't turn out to be so great after all.
To avoid this hypothetical yet unnecessary situation, it is strongly advisable to check reliability ratings on the vehicle you're interested in before you dive into that purchase.
There are publications that will provide this information as well as websites. Some of the better-known raters are Consumer Reports, J.D. Powers, Edmund's, and Consumer Guide. It should be noted that a couple of these; notably Consumer Reports and JDP, should only be used as a rough comparison because in most cases, these companies appear not to think much of any car unless it's Japanese. As a result, other makes, especially those of European origin; are rarely recommended, and this gives the shopper a false impression that they are inferior when this isn't the case at all. The fact of the matter is that just about every car manufactured today is reliable when compared to those built even 10 or 15 years ago, regardless of where they are built. The aforementioned publications also have a limited number of subscribers who take part in the surveys, which can also give one an inaccurate assessment.
In this author's opinion, it is prudent to log on to car forums where others discuss their ownership experiences. In fact, these anecdotes often serve as a far more reliable source than the aforementioned publications; especially if you read about a repeating pattern of problems. Who would you rather trust? A magazine that claims Car X is more reliable than Car Z, or an actual person who has owned one of them? For example, I was once set on buying a specific model until I went to such a forum and found every third post filled with complaints of excessive oil consumption, yet both CR and JDP made claim to above average reliability. Well, maybe if you carry a case of oil in your trunk
Nevertheless, it's a good idea to cross-check the problems listed in several different sources. When you find a recurring trouble area, then you must determine how serious it is. If car A has a tendency to blow light bulbs while car B has engines that are shot by the time they are driven 100,000 miles, then it stands to reason that perhaps Car B should be removed from your short list of contenders. Use this process of elimination until you are down to one or two choices. Then go to the lot, drive both, and determine which one you like best.
No used car will be perfect, but if you do your homework and familiarize yourself with a specific model's acceptable idiosyncrasies, you should be able to enjoy years of dependable service from your vehicle.