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IntelliChoice Value Rating
The chart above shows the purchase price versus ownership cost for each car from a specific vehicle class. The cars with better than average ownership cost/purchase price correlations are the best values, and these best value cars are represented by the dots below the curve. (i.e. the cars that have a lower ownership cost compared to its purchase price.) Those cars, which are worse than average or poor values, appear above the curve.
One way to view the graph is to draw a vertical line through any purchase price. You may see several dots that fall on this line - each of which is a car with a similar purchase price. However, notice the difference in ownership costs of each car represented by the vertical position of the dot. Two cars with the same purchase price can have thousands of dollars difference in ownership costs. This is what separates "good value" cars from "poor value" cars.
What is a good car value?
A "good car value" is one whose cost to own and operate is less than expected. The lower the cost to own and operate a car compared to what is expected, the better the value of that car.
But how do we know a car's "expected cost"?
For each car in the class, IntelliChoice plots the car's purchase price against the total five-year cost to own and operate it as determined by IntelliChoice research. Each dot on the above chart represents a specific car. Generally, we find that as the purchase price of the car increases, the cost to own and operate that car increases. This is why the dots on the graph tend to rise upward and to the right. This phenomenon also makes intuitive sense - as the purchase price rises, financing costs tend to rise, as do insurance, depreciation, taxes, and most other car ownership costs.
This is an important concept. It's normal for car ownership costs to rise as purchase price rises. Therefore, we can't just establish one "average" ownership cost number for each class, since cars in the class have different purchase prices. (This is why the "Relative" shown on each chart is different for cars in the same car class.)
Using statistical techniques, IntelliChoice "connects the dots" to form a curve that defines, for this car class, the relationship between the car's purchase price and car's ownership costs. This curve is our "expected cost" curve. The curve defines, for any car in the class, the five-year ownership cost that we would expect to see at each possible purchase price. If every car in the class were an average value, then all the dots would fall exactly on the curve. However, it's rare that any dot is exactly on the curve. Some dots are a little higher or lower, and some are a lot higher or lower. The dots that are a little lower are better than average car values, while the dots that are a lot lower are excellent car values (A dot that is a lot lower than the curve has ownership costs much lower than expected for a car of its purchase price). Conversely, a dot a little higher than the curve is a poorer than average car value, while a dot that is much higher than the curve is a poor car value.
Value is a relative term, not an absolute term. It is performing better than the logical expectation.
So is a Mercedes-Benz E320 expensive to own and operate? Certainly in an absolute sense. Most other cars cost less. But, when its cost to own and operate is plotted against cars with comparable invoice prices, the E320 costs less. So the E320 is not expensive to own and operate - it is a good car value. The Mercedes does not have low ownership costs, but it has low ownership costs for its invoice price.
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Honda Pilot EX Sport Utility Recalls
| Recall Date: |
APR 15, 2004 |
| Component: |
POWER TRAIN:AUTOMATIC TRANSMISSION |
| Model Affected: |
PILOT |
| Units Affected: |
1099796
Get Details
|
Recall Date:
APR 15, 2004
Model Affected:
2003 HONDA PILOT
Summary:
ON SOME MINI VANS, SPORT UTILITY AND PASSENGER VEHICLES, CERTAIN OPERATING CONDITIONS CAN RESULT IN HEAT BUILD-UP BETWEEN THE COUNTERSHAFT AND SECONDARY SHAFT SECOND GEARS IN THE AUTOMATIC TRANSMISSION, EVENTUALLY LEADING TO GEAR TOOTH CHIPPING OR GEAR BREAKAGE.
Consequence:
GEAR FAILURE COULD RESULT IN TRANSMISSION LOCKUP, WHICH COULD RESULT IN A CRASH.
Remedy:
ON VEHICLES WITH 15,000 MILES OR LESS, THE DEALER WILL UPDATE THE TRANSMISSION WITH A SIMPLE REVISION TO THE OIL COOLER RETURN LINE TO INCREASE LUBRICATION TO THE SECOND GEAR. ON VEHICLES WITH MORE THAN 15,000 MILES, THE DEALER WILL INSPECT THE TRANSMISSION TO IDENTIFY GEARS THAT HAVE ALREADY EXPERIENCED DISCOLORATION DUE TO OVERHEATING. IF DISCOLORATION EXISTS, THE TRANSMISSION WILL BE REPLACED IF DISCOLORATION IS NOT PRESENT, THE DEALER WILL PERFORM THE REVISION TO THE OIL COOLER RETURN LINE. THE RECALL BEGAN ON APRIL 21, 2004, FOR PILOT, ODYSSEY, AND MDX OWNERS. OWNERS OF THE ACCORD VEHICLES WILL START RECEIVING LETTERS ON JUNE 28, 2004, AND ON JUNE 29, 2004, FOR OWNERS OF THE TL AND CL VEHICLES. OWNERS SHOULD CONTACT HONDA AT 1-800-999-1009 OR ACURA AT 1-800-382-2238.
Units Affected:
1099796
Notes:
HONDA (AMERICAN HONDA MOTOR CO.) P30/P31
| Recall Date: |
FEB 05, 2008 |
| Component: |
EQUIPMENT:MECHANICAL:CARRIER/RACK |
| Model Affected: |
PILOT |
| Units Affected: |
2032
Get Details
|
Recall Date:
FEB 05, 2008
Model Affected:
2003 HONDA PILOT
Summary:
HONDA IS RECALLING 2,032 HITCH STYLE BIKE RACKS SOLD AS AFTERMARKET FOR USE ON MY 2003-2007 AND SOME MY 2008 HONDA PILOT, RIDGELINE, AND ACURA MDX VEHICLES. A PINCH BOLT EXISTS BETWEEN THE BIKE ARM BRACKET AND THE UPRIGHT ASSEMBLY OF THE "HITCH" STYLE BICYCLE RACK.
Consequence:
WHEN MOVING THE BIKE ARM BRACKET TO ITS DOWN POSITION, THIS PINCH BOLT HAS THE POTENTIAL OF CAUSING SEVERE LACERATION OR AMPUTATION TO THE USER'S FINGERTIPS OR HAND.
Remedy:
OWNERS SHOULD CONTACT THULE AT 800-THULE91 (800-848-5391) TO OBTAIN A FREE REPAIR KIT ALONG WITH REPAIR INSTRUCTIONS OR OWNERS MAY CONTACT HONDA AT 1-800-999-1009 OR ACURA AT 1-800-382-2238 FOR FURTHER INFORMATION.
Units Affected:
2032
Notes:
HONDA (AMERICAN HONDA MOTOR CO.)
| Recall Date: |
AUG 28, 2002 |
| Component: |
ENGINE AND ENGINE COOLING:ENGINE |
| Model Affected: |
PILOT |
| Units Affected: |
17551
Get Details
|
Recall Date:
AUG 28, 2002
Model Affected:
2003 HONDA PILOT
Summary:
ON CERTAIN MINIVANS, SEDANS, COUPES, AND SPORT UTILITY VEHICLES EQUIPPED WITH V6 ENGINES, A TIMING BELT TENSIONER PULLEY ON THE WATER PUMP IS MISALIGNED AND COULD CAUSE THE TIMING BELT TO CONTACT A BOLT ON THE CYLINDER HEAD. EVENTUALLY THE BELT COULD BE DAMAGED AND FAIL.
Consequence:
IF THE TIMING BELT BREAKS, THE ENGINE WILL STALL, INCREASING THE RISK OF A CRASH.
Remedy:
DEALERS WILL INSPECT THE WATER PUMP AND IF IT IS ONE OF THE DEFECTIVE PUMPS, THE WATER PUMP AND TIMING BELT WILL BE REPLACED. OWNER NOTIFICATION BEGAN AUGUST 30, 2002. OWNERS WHO TAKE THEIR VEHICLES TO AN AUTHORIZED DEALER ON AN AGREED UPON SERVICE DATE AND DO NOT RECEIVE THE FREE REMEDY WITHIN A REASONABLE TIME SHOULD CONTACT HONDA AT 1-800-999-1009 OR ACURA AT 1-800-382-2238.
Units Affected:
17551
Notes:
AMERICAN HONDA MOTOR CO.
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Truck Insurance 101
Insurance for many new trucks and SUVs can be quite costly. That's because, although you're probably careful with your pride and joy, other truck and SUV drivers as a group haven't established an envi...
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