According to JD Power, the average price that an auto dealer will pay you for a trade-in of your old vehicle is likely about 20% lower than if you were to sell the car privately, such as via posting an advertisement. Although this discrepancy is no secret to most, consumers often reluctantly accept the trade-in offer primarily because it is a more convenient option. One potential consideration in these instances is to contact a location that will allow you to donate a vehicle to charity. Vehicle donations can often make good economic sense, depending on the various factors associated with your individual income tax situation for a given tax year.
Those who may be in the market for a new vehicle will certainly notice the continued increase in the many vehicle safety features that auto manufacturers are adding as standard operating equipment. The latest safety features go well beyond the features that have been in the market for years already such as anti-lock brakes, airbags and low tire inflation alerts. Some of these exciting new developments are as follows:
- Backup cameras: There are two primary components involved with these. A hidden camera that is located in the rear of the vehicle turns on when the car’s transmission is shifted into reverse. The view from the camera is then shown on the dashboard screen inside the car so the driver can clearly see the area that they are “backing into”.
- Blind spot warnings: Even the newest rear-view and side-view mirror combinations may not allow you to see the “blind-spots” toward either side of the rear of the vehicle. When another object (such as a car) is occupying the area in this region, the system will provide either a visual or audible signal to prevent any problems associated with changing lanes.
- Lane shift warning sensors: This type of sensor is able to detect and alert the driver if they sway slightly out of the current lane while traveling. These may be particularly helpful when a driver is moderately distracted.
- Forward collision prevention alerts: This “cutting edge” technology can be based on a camera or radar-type system for detecting objects that suddenly are determined to be present within (or near) your car’s estimated breaking distance.
- Adaptive response headlights: This feature will automatically adjust the brightness of your car’s headlights based on the lighting amid the area you are traveling. The technology is particularly helpful if traveling through a rural roadway after-dark where there are no streetlights available to illuminate your path. Additionally, this may limit the need for manual engagement of your high-beam lights.
- Electronic wheel stability features: This is used to assist a vehicle when it is turning by slowing the speed of certain wheels automatically to more safely complete the turn.