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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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Jeep Grand Cherokee Laredo Utility Recalls
| Recall Date: |
MAR 13, 2006 |
| Component: |
EXTERIOR LIGHTING:HEADLIGHTS |
| Model Affected: |
GRAND CHEROKEE |
| Units Affected: |
292000
Get Details
|
Recall Date:
MAR 13, 2006
Model Affected:
2003 JEEP GRAND CHEROKEE
Summary:
CERTAIN ANZO COMBINATION HEADLAMP ASSEMBLIES SOLD AS REPLACEMENT LAMPS FOR USE ON CERTAIN PASSENGER VEHICLES. SOME COMBINATION LAMPS ARE NOT EQUIPPED WITH AMBER SIDE REFLECTORS WHICH FAIL TO CONFORM TO FEDERAL MOTOR VEHICLE SAFETY STANDARD NO. 108, "LAMPS, REFLECTIVE DEVICES, AND ASSOCIATED EQUIPMENT.¿
Consequence:
WITHOUT THE AMBER REFLECTORS, THE VEHICLE WILL BE POORLY ILLUMINATED, POSSIBLY RESULTING IN A VEHICLE CRASH.
Remedy:
ANZO WILL NOTIFY OWNERS AND REPLACE THE HEADLAMPS FREE OF CHARGE. THE RECALL BEGAN MAY 9, 2006. OWNERS MAY CONTACT ANZO USA AT 909-468-3688.
Units Affected:
292000
Notes:
ANZO USA, INC.
| Recall Date: |
JUN 07, 2006 |
| Component: |
SEATS:FRONT ASSEMBLY:SEAT HEATER/COOLER |
| Model Affected: |
GRAND CHEROKEE |
| Units Affected: |
111687
Get Details
|
Recall Date:
JUN 07, 2006
Model Affected:
2003 JEEP GRAND CHEROKEE
Summary:
ON CERTAIN SPORT UTILITY VEHICLES EQUIPPED WITH HEATED SEATS, THE FRONT PASSENGER SEAT ELECTRIC HEATER ELEMENT COULD OVERHEAT.
Consequence:
OVERHEATING COULD POTENTIALLY CAUSE A FIRE.
Remedy:
DEALERS WILL REPLACE THE HEATED SEAT ELEMENTS. THE RECALL BEGAN ON JULY 24, 2006. OWNERS MAY CONTACT DAIMLERCHRYSLER AT 1-800-853-1403.
Units Affected:
111687
Notes:
DAIMLERCHRYSLER CORPORATION F17
| Recall Date: |
JUL 17, 2006 |
| Component: |
EXTERIOR LIGHTING |
| Model Affected: |
GRAND CHEROKEE |
| Units Affected: |
4029
Get Details
|
Recall Date:
JUL 17, 2006
Model Affected:
2003 JEEP GRAND CHEROKEE
Summary:
CERTAIN TRADESONIC COMBINATION LAMPS SOLD AS REPLACEMENT LAMPS FOR USE ON THE ABOVE LISTED PASSENGER VEHICLES. COMBINATION LAMPS NOT EQUIPPED WITH AMBER SIDE REFLECTORS FAIL TO CONFORM WITH THE REQUIREMENTS OF FEDERAL MOTOR VEHICLE SAFETY STANDARD NO. 108, LAMPS, REFLECTIVE DEVICES, AND ASSOCIATED EQUIPMENT.
Consequence:
LACK OF AMBER SIDE REFLECTORS IN THE LAMPS WILL DECREASE LIGHTING VISIBILITY TO OTHER DRIVERS AND MAY POSSIBLY RESULT IN A VEHICLE CRASH.
Remedy:
TRADESONIC WILL NOTIFY OWNERS AND REPLACE THE LAMPS FREE OF CHARGE. THE RECALL IS EXPECTED TO BEGIN DURING JULY 2006. OWNERS MAY CONTACT TRADESONIC AT 626-934-8884.
Units Affected:
4029
Notes:
TRADESONIC
| Recall Date: |
FEB 01, 2006 |
| Component: |
FUEL SYSTEM, GASOLINE:DELIVERY:FUEL PUMP |
| Model Affected: |
GRAND CHEROKEE |
| Units Affected: |
7291
Get Details
|
Recall Date:
FEB 01, 2006
Model Affected:
2003 JEEP GRAND CHEROKEE
Summary:
CERTAIN AFTERMARKET AIRTEX ELECTRIC FUEL PUMPS INSTALLED FOR USE AS REPLACEMENT EQUIPMENT FOR CERTAIN 1997-2004 JEEP WRANGLER; 1997-2001 JEEP CHEROKEE; 1997-2004 JEEP GRAND CHEROKEE; AND 2000-2003 DODGE DAKOTA VEHICLES. THE PLASTIC ELECTRICAL GROMMET CONNECTORS AT THE TOP OF THE FUEL PUMP MODULE ARE NOT COMPATIBLE WITH AUTOMOTIVE FUELS AND MAY DEGRADE CAUSING A POTENTIAL LEAK PATH FOR FUEL.
Consequence:
IN THE PRESENCE OF AN IGNITION SOURCE, A FUEL LEAK COULD RESULT IN A FIRE.
Remedy:
AIRTEX WILL NOTIFY ITS CUSTOMERS AND WILL REPLACE THE AFFECTED FUEL PUMPS FREE OF CHARGE. THE RECALL BEGAN ON JANUARY 25, 2006. OWNERS MAY CONTACT AIRTEX CUSTOMER SERVICE DEPARTMENT AT 1-800-880-3056.
Units Affected:
7291
Notes:
AIRTEX PRODUCTS FP012506
| Recall Date: |
MAR 13, 2006 |
| Component: |
SERVICE BRAKES, HYDRAULIC |
| Model Affected: |
GRAND CHEROKEE |
| Units Affected: |
7440
Get Details
|
Recall Date:
MAR 13, 2006
Model Affected:
2003 JEEP GRAND CHEROKEE
Summary:
CERTAIN AFTERMARKET BRAKE HYDRAULIC MASTER CYLINDERS SOLD AS REPLACEMENT BRAKE CYLINDERS FOR CERTAIN FORD, DAIMLERCHRYSLER, AND JEEP PASSENGER VEHICLES. THESE BRAKE CYLINDERS WERE SOLD UNDER THE BRAND NAMES OF NAPA, RAYBESTOS, AIMCO, AC DELCO, CARQUEST, BENDIX, AND WAGNER. ONLY PRODUCTS THAT WERE MANUFACTURED FROM JULY 27, 2005 THROUGH JANUARY 17, 2006 (DATE CODES 0529 THROUGH 0602) ARE SUBJECT TO THIS RECALL. WHEN SUBJECT TO VERY COLD TEMPERATURES, AN INTERNAL SEAL IN THE MASTER CYLINDER COULD LOSE FLEXIBILITY AND MAY CAUSE BRAKE FLUID TO LEAK.
Consequence:
LOSS OF BRAKE FLUID CAN LEAD TO A DECREASE IN BRAKE LINE PRESSURE AND AN INCREASE IN STOPPING DISTANCE, WHICH CAN RESULT IN A VEHICLE CRASH.
Remedy:
AFFINIA (BRAKE PARTS, INC.) WILL REPLACE THE SUBJECT BRAKE HYDRAULIC MASTER CYLINDERS FREE OF CHARGE. THE RECALL BEGAN ON MARCH 20, 2006. OWNERS CAN CONTACT AFFINA GROUP CUSTOMER SERVICE AT 1-800-323-0354.
Units Affected:
7440
Notes:
BRAKE PARTS, INC.
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