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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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2008 Chrysler 300 Review
Bold, handsome, roomy and satisfying.
Introduction
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Smooth, quiet operation, tight handling, space, luxury: The Chrysler 300 sedan has it all, at attractive prices. Yet what the 300 has more than anything is bold, appealing styling. The Chrysler 300 nameplate includes a wide range of engines and amenities, from a frugal V6 to the powerful SRT8. The base model comes well-equipped for less than $25,000 MSRP. The Touring model adds leather, amenities and a more powerful V6 for about $28,000. The 300C offers a truly powerful Hemi V8, with Chrysler's fuel-saving Multi-Displacement System, and it can be equipped with most of the gizmos and luxury features available today. Long-wheelbase models are also available that some families may find appealing. Aimed primarily at the chauffeur-driven executive class, the long-wheelbase version offer a cavernous back seat, th more leg room than just about anything on the road. It's great for tall folks or anyone who likes space and convenience and can be equipped with custom features such as writing tables and foot rests. The Chrysler 300 is rear-wheel drive, and we consider that a benefit. Rear-wheel drive adds to the pleasure and excitement of driving this big sedan, and that's partly why luxury sedans and sports cars continue to use it. The 300's traction and stability electronics are well sorted and effective, delivering good all-season performance, and all-wheel drive is an option for those who live in the snow belt. With the big-torque V8, the 300 also offers something buyers that has had buyers turning to SUVs: enough towing capacity to pull a lightweight trailer.
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The Chrysler 300 models are comfortable. They're also responsive for large cars. The 300C delivers thrilling acceleration, while the SRT8 offers true high performance in civilized fashion. Then there's the styling. Inside and out, this car makes no apologies. It won't be mistaken for any other sedan the road. It can be trimmed with chrome, mono-chrome and various wheels to look stately and elegant or downright mean. The Chrysler 300 delivers impressive value, but emphasizing the cost/benefit ratio may minimize its other strengths. The 300s are good, appealing cars, and they've set the benchmark for Detroit's car builders. For 2008, Chrysler added several features and tweaked the interior and exterior design. New features include adaptive cruise control, Sirius Backseat TV and Chrysler's MyGig, a 20-gigabyte hard drive that holds songs, pictures, and navigation system map information. Chrysler's UConnect hands-free cell-phone link has been upgraded with an integrated iPod interface. The interior has a new instrument panel and center console, and the arm rests, center console and door trim benefit from soft-touch surfaces. Outside, the front and rear fascia, grille, decklid, and side moldings are updated. Base models are now called LX. next page |
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Chrysler 300
The new Chrysler 300 is big, bold, and brassy. This rear-wheel-drive sedan is also terrific to drive, especially in Hemi-powered
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