FAIRFAX, Va.--(BUSINESS WIRE)--Aug. 27, 2003

Consumers have saved tens of thousands of dollars, and avoided major headaches, by learning the past about a used car they're about to purchase. These consumers know they can go to www.AutoCheck.com and run a vehicle history report on virtually any used car. Now, consumers can also better understand a car's future - in dollars and cents - with the new Edmunds "True Cost to Own" tool. By doing these two things, consumers can steer clear of a real money pit.

Edmunds.com, the first company to provide consumer automotive information on the Web, announces it has launched a free tool allowing consumers to learn the expected five-year costs of owning and operating used vehicles, including depreciation, financing, repairs, maintenance, fuel, insurance and Department of Motor Vehicles (DMV) fees.

"Last year, consumers purchased 43 million used cars while they only purchased 16 million new cars," said Scott Fredericks, Vice President, AutoCheck.com. "Given the economy, buying a used car today may be one of the smartest decisions they can make - if they do their homework. One of the best ways is using the Internet for research. Tools on AutoCheck.com and Edmunds.com will help consumers make the most informed buying decisions."

Getting a vehicle's history can help consumers anticipate expenses and determine if a car is even safe to drive. Consumers can get a vehicle history report by entering a car's vehicle identification number (VIN) at www.cccvette.com/vehicle_history/ . Or, consumers can ask their dealer for a Free VIN Check.

Carlos Soliz, of Springfield, Virginia, learned the pitfalls of not doing solid research the hard way. He spent nearly $25,000 on his dream car - a 1998 Mustang Cobra. His dream quickly became a financial nightmare. First, he had problems with the odometer, then the engine, and then he had to rebuild the rear end. Carlos ended up putting $7,000 into repairs. That prompted him to find out more about his Mustang's troubled past on www.cccvette.com/vehicle_history/

"I wasn't too happy with what I found," Soliz said. "The AutoCheck Vehicle History Report gave me a warning message about a mileage rollback. The former owner did things to the car that were really hard on it. I bought someone else's headaches."
In addition to being able to look into a car's past, consumers can now foresee the future of the car they buy, as well. The Edmunds.com True Cost to Own Tool even calculates a "cost-per-mile" amount. For example, a '99 Chevy Malibu might cost 27 cents per mile while a '99 Honda Accord might cost 31 cents per mile over five years. Carlos Soliz would have been able to anticipate spending at least 42 cents per mile to own his Mustang.

Average five-year ownership costs of some of the vehicles on the Edmunds "Used Car Best Bets" List are as follows:

-- 2000 Honda Civic DX coupe 27 cents/mile
-- 1999 Ford Ranger XL Extended Cab 28 cents/mile
-- 2001 Toyota Camry LE 31 cents/mile
-- 2000 Mazda MX-5 LS Miata 35 cents/mile
-- 2001 Nissan Pathfinder LE 2WD 41 cents/mile
-- 2001 Lexus ES 300 47 cents/mile

"Until now, consumers have had no source of information as to the actual costs of owning and operating a used car," said Jeremy Anwyll, President, Edmunds.

"Both from a budgeting standpoint and for the purpose of comparing various vehicles, this tool will help consumers make more informed decisions."
Next time around, Carlos Soliz plans to do his research.
"I'd do things differently next time I buy a car," Soliz said. "I've passed up others in the past. I probably would have passed this one up, too."

About AutoCheck

Since 1984, AutoCheck has been helping people uncover the truth about used cars. The AutoCheck Vehicle History Report - available through www.cccvette.com/vehicle_history/ and through car dealers - provides an instant background check on any used car. Vehicle History Reports help consumers and dealers avoid used cars with costly hidden problems, including major accident and salvage history, odometer fraud, flood damage and more. AutoCheck takes its job of providing the truth about used cars so seriously it backs every Vehicle History Report with a $5,000 AutoCheck Certified History Guarantee. Based in Fairfax, Virginia, AutoCheck is a wholly owned subsidiary of R.L. Polk & Company.

About Edmunds

Edmunds is the premier online resource for automotive information. Its comprehensive set of data, tools and services, including Edmunds True Market Value(R) pricing, is generated by Edmunds Data Services and is licensed to third parties. For example, the company supplies over 800,000 pages of content for the auto sections of AOL and NYTimes.com, provides weekly data to Automotive News and delivers monthly data reports to Wall Street analysts. Edmunds was named "best car research" site by Forbes ASAP, is viewed by consumers as the "most useful Web site" according to the J.D. Power and Associates New Autoshopper.com Studies(SM) for both 2001 and 2002, and was ranked first in the Survey of Car-Shopping Web Sites as reported by The Wall Street Journal. The company is headquartered in Santa Monica, California and maintains a satellite office in Troy, Michigan.