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Value Rating
Above Average
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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Article From Truckin' Magazine
John Force Holiday Car Show 2003 - A Forceful Show - Truckin Show Feature
The John Force Holiday Car Show
By D. Brian Smith
photographer: D. Brian Smith, Rich Boyd
 Have you ever craved owning a chopped and channeled '33 Ford hot rod hauler? We'd guess Wiley Miller, of Yorba Linda, California, used to, until he built his. A must attend show 'n' shine at the end of the car and truck show season is the John Force Holiday Car Show, benefiting the California Highway Patrol's CHiPs for Kids Christmas toy drive. As sure as the Menorah is lit, or Santa is making his rounds, showgoers were in awe, seeing more than 500 cool custom, vintage, and new trucks, musclecars, street rods, hot rods, motorcycles, and race cars at John Force Racing in Yorba Linda, California. This year's show was held on a Sunday in early December. The admittance fee is always the same, an unwrapped toy worth $10 or more. The California Highway Patrol wraps these gifts and gives them to children who otherwise wouldn't receive any gifts over the holiday season. As if the awesome custom machines weren't enough of a draw, there were some of drag racing's top drivers on hand signing autographs and having their photographs taken with admiring fans. Racers and celebrities included Gary Densham, Gary Scelzi, Del Worsham, Jerry Toliver, Ron Capps, Cory McClenathan, Tom "the Mongoose" McEwen, and the sport's most honored driver, 12-time NHRA POWERade Series Champion and event host, John Force. Guests could also take a tour of the John Force Racing facility and see the three fastest funny cars on the planet. If they worked up an appetite, they were welcome to grab some grub from BBQ and food vendors while listening to live music from the '50s and '60s. Those attendees who needed to get a jump-start on the holiday shopping season could browse and buy the latest in automobilia from the John Force RaceStation Store. For the many gearheads who read our magazine, the annual John Force Holiday Car Show benefiting the California Highway Patrol's "CHiPs for Kids" Christmas toy drive, is an excellent opportunity to get into the winter holiday spirit in a supercharged way. If you missed this year's event, check out some of the show's many highlights in living color here. Come next November, make sure you visit www.johnforceracing.com for details of the early December 2004 event and come check it out. You'll be glad you did.
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El Lobo Negro
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