Happy Birthday PriceHub!

Two years ago, we started PriceHub to bring price transparency of vehicles to the mass consumer.  Our goal was to provide a place where people can find the actual selling price of cars and trucks.  Two years have passed, and we now have a robust database of selling prices for just about every car, from the everyday Honda Accord to the exotic Ferrari 360.  Many users now visit our site before they complete a vehicle purchase or sale transaction.  There are also many people who visit the site just to track vehicle prices and to follow market trends.  Our goal for this next year is to continue to provide valuable information on pricing for people who want to see actual vehicle prices.  We have a few site upgrades in mind, and we'll reveal new features as they are rolled out.  Please continue to send us feedback because we like hearing and getting people's opinions about our site.  And oh, by the way, Happy Birthday PriceHub! 

 

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Carfax reports - a great start, but don't trust them completely

In the latest print version of Consumer Reports, there is an article that details why it isn't prudent to completely trust Carfax and other used vehicle history reports (AutoCheck & VINCheck included).

While these reports are great at documenting the official history of a car - when it was bought, when it was sold, what the mileage was when it was sold and whether the car was totaled, Consumer Reports found that cars that are involved in serious accidents but are NOT totaled don't necessarily get an entry in its Carfax record. These types of cars can have clean Carfax records even with serious repair and body work. In fact these cars that have clean titles fetch more money at auto auctions since the clean title will allow shady dealers to sell the repaired car as having a clean Carfax record.

As a part of the due diligence of buying a used car, just keep in mind that a clean Carfax or other type vehicle history report shouldn't be the only factor you look at when purchasing a used car. Make sure you inspect the car for any visibly repaired body damage (to name a few):

- misaligned fenders with the body
- different shades of paint on the car
- different textures of paint on the car
- over spray of paint onto surfaces that should have paint on them (like the wheel wells)

All of these things can tell you if a car has been repaired or not. For more minor damage, there is a good chance there is no entry for the incident on these reports either. If you need to, bring along a friend who knows cars or have the car inspected by a professional mechanic.

I personally think Carfax and the other report services are great - these reports provide access to car history information that once was near impossible to get. Just don't forget to use these reports as one of the many factors you should evaluate before buying a used car.

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The $40,000 Electric Volt

General Motors, despite its financial turmoil, is still moving forward with plans to launch the Chevy Volt in the fall of 2010. However, those plans may be derailed if General Motors doesn't get a government bail-out and falls into bankruptcy. General Motors is hoping to launch the Volt with a price tag of about $40,000. However, the company also estimates that it needs another $750 million to complete the development of the Volt. After it's all said & done, that price tag will probably rise to $50,000 and if the Volt makes it to market, it may have a hard time competing with the Toyota Prius and Honda Insight at $25,000 to $30,000.

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Flying Car

Just read about this flying car on the China Daily News. This vehicle will allow you to drive or fly to the grocery store. The flying car was built by a company named Terrafugia, a spinoff from MIT. While this is a novel idea, I'd hate to see what the insurance is on this.

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Certified Pre-Owned hybrids from Toyota

Toyota just announced that they are going to certify pre-owned hybrid vehicles. Obviously, these certified hybrids will command a premium over their non-certified counterparts.

However, you are getting this additional warranty:

• 3-month/3,000-mile comprehensive warranty
• 7-year/100,000-mile limited powertrain warranty¹
• 7-year/100,000-mile roadside assistance¹
• 174-point quality assurance inspection
• CARFAX® Vehicle History Report™
• 8-year/100,000-mile factory hybrid battery warranty¹
• Standard new-car financing rates available

For potential used-Prius owners, the 8 yr battery warranty could help alleviate some anxiety. It will be interesting to see how this affects used Prius prices.

Here is the announcement from Toyota.

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See the brand new Honda Prius... I mean Toyota...

Is it me or does the new Honda Insight look just like a Toyota Prius? Motive Magazine has the scoop.

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New feature: Comment on Prices

We just added the ability to comment on the prices for each make and model on our site. We felt that by letting our users comment directly on the prices for a car or truck, we could help consumers get an even better sense of new & used car prices.

Try it out!

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