Used cars are still a better buy over new, but with all the incentives on the table, the value gap is closing.

(Source: CNN via Yahoo)

The sharp car buyer’s advice has long been that a well-cared-for, late-model used car is always a better value than a brand new one.

Used cars are a smart buy because of depreciation, which is greatest in the first year or two, which means someone else gets stuck with the biggest value-drop. And you aren’t giving up very much in return – these days, cars last a lot longer, so a car with 20,000 or 30,000 miles can still have plenty of life.

But weak sales have led to heavy incentives on new cars. While a used car is still cheaper than a new one, in some cases the price difference will be surprisingly small, according to researchers at the automotive Web site Edmunds.com.

“Certified pre-owned” cars are another option. CPOs are selected low-mileage used cars that have been inspected, refurbished as needed and certified as being in top-notch condition, according to criteria laid out by the car’s original manufacturer. Most importantly, they have added warranty coverage. CPOs cost more than non-certified used cars, but the quality can make the extra cost more than worth it.

 Click here to read the entire anlysis.

(Source: New York Times)

Amid a wave of government-led bailouts for car companies, a group of international agencies and motoring organizations called on Wednesday for car makers worldwide to reduce emissions.

“In confronting the economic recession this is a real opportunity for governments to combine support for the auto industry with measures to achieve environmental and energy policy goals,” said Nobua Tanaka, the executive director of the International Energy Agency.

“Battery electric vehicles, plug-in hybrids and possibly hydrogen fuel cell vehicles are expected to become increasingly available in the near-to-medium term given recent improvements especially in batteries,” the 50-by-50 campaign noted in a leaflet. “However, these advanced technologies are not necessary to achieve the 50 percent potential described here, but could result in further CO2 reductions and oil savings if they succeed in achieving mass-market commercialization.”

Click here to read the entire article.

(Source: Room for Debate, a New York Times blog)

(Photo: Librado Romero/The New York Times) In Times Square, pedestrians often find themselves maneuvering among cars blocking the intersections.

The pedestrian mall, the urban planner’s failed attempt to revitalize Main Streets during the 1960s and 70s, is back!

This week, Mayor Michael Bloomberg announced that cars would be barred from several blocks of Broadway, including Herald Square and Times Square. He said the changes would relieve traffic congestion and crowded sidewalks – far different problems from what spawned the pedestrian malls of the 70s. And it’s not just New York that’s rethinking this old idea. San Francisco is considering restrictions on private cars on Market Street, the city’s main artery.

When do these car-free zones succeed? And why have they left streets deserted and unappealing in the past?

• Robert Sullivan, author
• Sam Staley, co-author of “Mobility First”
• Alexander Garvin, architect and former Planning Commission member
• Steve Davies, Project for Public Spaces
• Randal O’Toole, author of “The Best-Laid Plans”

Click here to read more.

(Source: 4WheelNews via Jalopnik/Gizmodo)

(Image Courtesy: BMWUSA)