Letters to the Editors
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Subject: "Unwinding the Deal — What Are Your Rights?"
From: F.O.
I just read your article "Unwinding the Deal — What Are Your Rights?" and that article mostly applies to what happens days later. I live in Wisconsin, and I've heard there is no cooling-off period here either. However, what happens minutes or hours after you sign a contract…before you drive away with it? Is there any difference whatsoever when you have only signed the contract and not actually left with it yet?

Finally, what about voiding a contract due to them putting together the contract willy-nilly? On my contract I saw later that they manipulated the numbers such that parts of my trade-in value were added to "other deductions" and part of it was placed into the "trade-in." Technically the trade-in value on the contract did not equal the negotiated value, even though the final value was correct. Because the contract values were written incorrectly, does that give me grounds to void the contract?

You're referring to the fact that they promised one figure and then put another number in the contract. This would be grounds for invalidating the contract if you could prove it — but how will you do that? Furthermore, it isn't unusual for them to move around numbers in the contract to make it add up to the amount you agreed on. They will sometimes "over allow" the amount of a trade-in to close a deal. When the contract is drawn up they juggle the numbers. This is why it's so important to review the contract before you sign. — Ed.

Subject: "High Performance for Your Money — True Cost vs. Value"
From: David
What a horrible piece of statistical analysis (Is a Mercedes-Benz SL65 AMG a better deal than a Chevy Cobalt SS? — April 17, 2006)!

The notion that a Mercedes SL65 is a better value than a Chevy Cobalt SS just because the Benz has a lower TCO-to-TMV ratio is way off base. All the TCO-to-TMV ratio really tells you is the percentage of the total cost of ownership you are paying up front. Expensive German cars are bound to have a lower ratio due in part to the fact that they come with "free" maintenance for the first three or four years, which is actually built into the initial price of the car.

Suppose instead, the Chevy dealer offered to sell you the Cobalt for a price of $50,000 and agreed to cover all expenses incurred over the five-year ownership (maintenance, gas, etc.) and then buy the car back at a price that would result in the same $38K TCO. By your calculation, the Cobalt would suddenly become a much "better value" than Benz while it's still the same car with the same TCO!

Or, for a more real-world example, what if the Benz didn't include any free maintenance, but the initial price was discounted by the amount you would spend on that maintenance, resulting in identical TCO. By your calculation, it would suddenly become a worse value just because less of the total cost was paid up front!

To truly judge value, all you have to do is look at TCOs and decide if the difference between cars is worth it to you. In the end, the SL65 costs almost $160K more than the Cobalt SS. Is it a better value? Is a faster, better-handling, more luxurious car worth an additional $160K? I guess that depends on the individual, but as I see a lot more Cobalt SSs on the road I think most people would say the Chevy represents a better value for them.

We felt that presenting the data gathered by Edmunds.com would help car buyers in this segment make an informed decision. Sorry to burden you with facts when you would rather shop by seeing what is the most common car on the road. And, no, free maintenance has little to do with affecting these percentages. The biggest single factor is the depreciation, which is low in the imports and high in the domestics. — Ed.

Subject: Cleanliness and Fuel Efficiency
From: Craig
I've heard rumors that your gas mileage would improve if you keep your vehicle clean and waxed because the surface of the car is smoother, therefore being more aerodynamic. Have you approached this question?

We have heard this many times and, in theory, it probably works. However, we sincerely doubt that you would be able to see a measurable difference in your fuel mileage. There are many, many other, more significant ways to save gas — such as reducing aggressive acceleration, using cruise control, eliminating excessive idling and driving according to the speed limit. — Ed.

Subject: Buying with Cash
From: Jo Anne
We wish to purchase a certified pre-owned Cadillac from a local dealer. I read the negotiating information and I wonder if paying cash for the vehicle is a negotiating tool for us or if dealers prefer those using their financing? If we could get a better price using their financing, would you suggest we do so, look first for prepayment penalties, and just pay it off the next month?

Most car contracts do not include prepayment penalties. And, yes, the dealer is apt to consider the amount to be made through financing and give you a better deal. By the way, we publish True Market Value^SM pricing for certified pre-owned cars, too. Be sure to consult TMV before shopping for a car. — Ed.

Subject: "Full Test: Honda Fit Sport"
From: Calvin
Great article on the Fit, totally agreed about the misuse of SUVs by most buyers for image purpose. Not to mention about the poor gas mileage.

I own the 1st-generation (1998) Odyssey with 106K miles, and I still don't want to give it up for the ever bigger new Odyssey or the Sienna. If I don't have 3 kids, I won't even consider a minivan! My other choice would be a Mazda 5.

Now I wish Honda could bring the Japan Odyssey or the Stream to the USA.

Subject: "Comparison Test: Hyundai Sonata Takes on the Accord and Camry"
From: Becky
I've been eyeing the Sonatas for a few years now, but at the same time, eyeing Edmunds' reviews. The 2006 is a beauty on the outside — haven't peeked at the inside yet. Thanks for taking a serious look at this car. It'll be my next purchase.

P.S. I currently own a 1994 and a 1995 Nissan Altima because of Edmunds reviews 10 years ago. The review and stats were right on the money and I haven't been disappointed with my purchases.

Subject: "10 Steps to Buying a Used Car"
From: Chris
I have a question about purchasing a car from a private party. I would like to get the car inspected by taking it to a mechanic before purchasing it but don't know how to go about doing this. In the interest of the seller, I can't simply take the car from the lot. In my own interest, I don't want to give the seller my money without proper documentation (that is, having him sign the title over to me, filling out a bill of sale, etc.). Any suggestions on how to properly get the car checked out at my mechanic's place?

It is fairly common practice to ask a private party to allow you to take the car to a mechanic for an inspection. This should only take an hour and should only be done as the last step to actually buying the car. It becomes somewhat more difficult to do this at a car lot because the dealer will probably tell you the car was thoroughly inspected and there is no need for another inspection. If this is the case, ask to see the inspection report to verify their contention. — Ed.