Are Foreign Cars Better than Domestics?
While that may have been true in the past, it's really no longer the case today. The quality gap between foreign and domestic brands has narrowed to the point where there isn't much of a difference anymore.
In J.D. Power's 2011 Dependability Study, Lincoln was actually rated the #1 brand, showing just how far domestic manufacturers have come. Although quality and reliability are about even, there is still the nagging perception that domestics are inferior - and that does affect resale value a bit.
Foreign cars do tend to hold their value better than domestics, but that gap is closing. The thing to understand about the automotive industry is that it's a small microcosm. Top engineers, designers, and executives regularly defect to competing brands. Some transfer from foreign manufacturers to domestics and vice-versa.
Furthermore, many "foreign" brands actually manufacture their vehicles in the United States. In fact, according to Cars.com, the Toyota Camry and Honda Accord are ranked as the top American-made vehicles when you factor in domestic car parts used and the assembly of the vehicle.
With today's global manufacturing industry, the lines are blurred when it comes to figuring out which cars are domestic or foreign. What you really need to do is have an open mind when it comes to choosing a car. Don't assume that foreign cars are always better than domestics or vice-versa.
Many people miss an opportunity to own a great car simply because of past prejudices. You should definitely test drive vehicles made both domestically and foreign and make up your mind after experiencing the quality first-hand.
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:
Step 1 Get Prices From My Trusted NetworkSelect the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
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Step 3 Complete my ChecklistFollow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid