The Most Overvalued Car on Earth

These days, car buyers have the upper hand when they walk into the showroom. They have access to dealer invoice prices and day supply data on the Internet--not to mention a recession that has spurred lowest-ever financing deals and unprecedented cash-back incentives.

But that doesn't mean every vehicle is a bargain; plenty are still overpriced. Right now, according to Vincentric, a firm that tracks vehicle ownership costs for the auto industry, several cars on sale now have market values far below their manufacturer's suggested retail price.

The Jeep Liberty, for example, has a true market value 20.9% lower than its MSRP; the Dodge Ram 2500 is worth 26% less; and the Chevrolet Trailblazer is worth 16.4% less than its MSRP.

Those three models, in particular, tell the story of the most overpriced autos currently on the market: Our entire list is comprised of vehicles manufactured by Detroit's Big Three. No foreign brands make the list, as those automakers' cars tend to be priced fairly when considering supply and demand as well as their high rankings on consumer-satisfaction surveys.

Behind the Numbers

To find America's most overpriced vehicles, we first looked at market price figures supplied by Vincentric. These are updated each month to reflect marketplace inventory, demand, rebates and incentives, and to represent the price that a buyer typically pays. We ruled out any vehicles where the gap between market price and MSRP was less than 10%--a natural breaking point in the data that left a list of about 150 overpriced vehicles to pare down.

We then used two pieces of customer-satisfaction information to better determine whether certain vehicles meet the expectations their brands promise--essentially, whether they justify their sticker price.

We used J.D. Power's 2008 Automotive Performance, Execution and Layout (APEAL) survey results, and ruled out vehicles that won their segments or scored better than two-and-a-half stars out of five: Any vehicle that scores less than 50% is likely not delivering on the thousands a consumer must shell out to buy it.

The list was further shortened by Consumer Reports' Owner Satisfaction results, data from a survey that asks owners--considering a wide range of factors, including price--whether they would buy a particular car again. Vehicles that scored less than 50 (on a scale of 100) made our list. We then ranked the remaining 15 vehicles by the amount overpriced (the difference between market price and MSRP).

The three most overpriced cars are the Dodge Ram pickup (worth 26% less than its MSRP), Mercury Grand Marquis (worth 21.4% less) and Jeep Liberty (worth 20.9% less).

Close the Gap

When it comes to the price of a car, the most important factor to consider is market value vs. MSRP, says Dave Freed, a managing partner for Vincentric. Even big cash rebates or 0% financing won't ensure you're getting the best deal on the lot, he says, and Vincentric's true-value information should give you a sense of how tough a negotiator you can be.

After that, research the top factors that cause a price to balloon out of proportion: availability, depreciation and gas prices. These points, in particular, are why American-made models comprise our entire list. Fleet sales and overproduction by GM and Chrysler has led to a dilution of resale value--and to dealers' lots overflowing with identical models. The Dodge Nitro is one of the worst offenders of this, according to Ward's, an automotive data and analysis firm.

Some cars tend to be overpriced partly because of their weakened brand image, which can lead to poor resale value. Vehicles that have this problem include the $17,430 GMC Canyon pickup truck, which has a resale value of 11.9% less than its MSRP; as well as GMC Envoy, with a resale value of 16.1% less than its MSRP.

"Where you might pay a higher price for a Honda Civic, you get it back at the end because it has a high resale value," says David Zoia, the editorial director for Ward's.

Lack of Luxury

While luxury vehicles cost thousands more than their non-luxury counterparts, none made our list. They all invariably receive extremely high satisfaction rates and APEAL scores. A Mercedes-Benz CL550 may cost a lot ($107,900 to be exact), and the E-Class costs a more reasonable $48,000, but the people who drive these cars think they're worth the price. It doesn't hurt that Mercedes keeps a tight rein on production levels too--you won't see a CL550 at your local Enterprise office anytime soon.

The $29,270 Mercury Grand Marquis sedan, however, is one to watch. Its market value is 21.4% lower than its MSRP, and it received low APEAL (2) and satisfaction (43) scores as well. So someone with her heart set on this vehicle shouldn't--in theory--pay more than roughly $23,000.

The Grand Marquis is the victim of a general move in the market away from larger, heavier sedans, says James Clark, general manager of Automotive Lease Guide, a California company that compiles automotive residual values. Those cars get worse gas mileage and cost more to insure, meaning they cost more to own in the long run. Similarly, U.S. consumers' move away from trucks and SUVs--also prominent on our list--has driven down those vehicles' true market values as well.

"It's a shift that we've experienced this past year due to the high gas prices we had last summer," says Clark. "With trucks and SUVs, a lot of those are showing up at the top of the list in terms of the highest cost to own."

America's Five Most Overpriced Cars

1. Dodge Ram 2500

2. Mercury Grand Marquis

3. Jeep Liberty

4. Dodge Nitro

5. Dodge Durango

Latest specs Dodge Viper 2009

When it comes to supercars, European automakers typically represent refinement, couture style and technological advancement, to the point of sterility. Here in the States, supercars are comparatively raw, visceral and rugged to the point of brutality. We're the sledgehammer to their scalpel, the bucking bronco to their show horse and the Bourne to their Bond. For better or worse, that's how we roll.
The current, third-generation Viper maintains the excitement and soul of the 1989 Carroll Shelby-inspired concept, with the obligatory low-slung body, long hood housing a massive V10, comically wide tires and gruff side exhaust pipes. The Dodge Viper doesn't ask permission and makes no apologies. Despite technological advances over the past two decades, the Viper has just enough safety equipment to make it legal, delegating the remaining responsibility to the hands and feet of the driver. If the performance numbers alone aren't enough to cause heart palpitations, consider that traction and stability control are not available, and circumstances can go from exhilarating to terrifying in short order.
It is this unfiltered, uncomplicated nature that makes the Viper so attractive to enthusiasts, hearkening back to eras when drivers were heroic, rugged and relied on the seats of their pants rather than electronic aids. For those seeking more comfort, refinement and everyday driving manners, there are always the Corvette Z06, various European offerings such as the Audi R8 and Porsche 911, and even Nissan's new GT-R. However, the 2009 Dodge Viper bests the Z06 in practically every applicable performance metric and is significantly less expensive than anything comparable from the Old World. In the end, it comes down to what you're willing to compromise -- performance or finesse.

Body Styles, Trim Levels, and Options
The 2009 Dodge Viper SRT-10 is offered as either a two-seat coupe or a soft-top roadster. For the standard price of admission, you get enormous forged-aluminum wheels with Michelin Pilot Sport PS2 tires measuring 275/35R18 in front and 345/30R19 in back. Inside, the Viper comes with race-inspired seats, power-adjustable pedals, full power accessories, a tilting steering wheel, keyless entry and an in-dash six-disc CD changer mated to a seven-speaker, 300-watt audio system. Since the Viper is more go than show, cosmetic and convenience options are scarce. Racing stripes, paint and wheel options, instrument-panel trim, a two-tone interior, navigation and satellite radio are all that is offered.
The big performance-enhancing option for the Viper is the American Club Racer (ACR) package, which is only available for the coupe variant. Though street legal, the ACR is clearly intended for track use. The package adds carbon-fiber aerodynamic devices, including a massive wing mounted high above the tail, a front splitter, fender-mounted dive planes and additional underbody treatments. All of this aero work results in a claimed 1,000 pounds of downforce at 150 mph. Lighter wheels shod with stickier tires (both slightly wider up front), lighter brake rotors, a stiffer suspension with 14-way-adjustable shocks and deleted foglamps round out the ACR package. In the end, the ACR weighs in 46 pounds lighter than the standard coupe.
In the spirit of "you can never go too far," the ACR package can be further enhanced with the Hard Core Package. Generally, one expects additional performance to cost more, but the Hard Core option is free -- primarily because the package removes options that are not track-essential. Deletions include the radio, speakers, amplifier, trunk upholstery, hood pad and tire inflator. Weight savings amounts to an additional 42 pounds -- not a whole lot, but every ounce counts on the track.

Powertrains and Performance
Underneath the Viper's louvered hood is an imposing 8.4-liter V10 engine that thunders out 600 horsepower and 560 pound-feet of torque. It's enough to propel the sleek snake from zero to 60 mph in 3.7 seconds. The quarter-mile is a memory in a mere 11.8 seconds. Top speed is a claimed 200 mph. All of this merriment is funneled to the rear wheels through a six-speed manual gearbox, which is the only transmission available.
Fuel economy -- though obviously an afterthought for exotic sports cars -- registers an EPA-rated city/highway of 13/22 mpg and 16 mpg in combined driving.

Safety
The best safety equipment for the 2009 Dodge Viper isn't included with the car. It's a driver with great skill, preferably with a racing pedigree. What is included, however, is antilock brakes with huge 14-inch rotors that can stop the Viper from 60 mph in an eye-bulging 104 feet. Conspicuously absent are side airbags, traction control and stability control -- making the skills of the aforementioned driver even more critical.

Interior Design and Special Features
Getting in can also be a challenge. Because of the trademark side exhaust, the side sills can get hot enough to singe your calves, and taller drivers will find that the smallish door opening hampers entry and exit.
The overall design of the Viper's interior is rather drab, though it can be livened up a bit with optional two-tone color schemes and dash panel inserts. The black-on-white-faced gauges are easy to read and well-placed. The large tachometer is mounted centrally in the instrument pod, beside the 220-mph-max speedometer. The center console accommodates additional gauges, the audio system with the six-CD changer, climate controls and a racy red starter button to fire up the V10.

Driving Impressions
The 2009 Dodge Viper is rough, raw, loud and unrefined when compared to other sports cars, and therein lies much of its appeal. As with previous generations, when you pin the gas pedal, you'll be pinned to the seatback. Jam on the brakes and you can feel your internal organs slam against your rib cage. Novices can appreciate the Viper's straight-line power and fury, but only advanced drivers should explore its cornering limits.
Steering is precise and offers enough feedback to toss the Viper deep into turns, while judicious amounts of throttle from a deft right foot can direct its nose with smart-bomb accuracy. However, sniper-like accuracy can be achieved with sharper, lighter performers like the Z06 or range-topping Porsches. Get it right in a Viper and the payoff is immediate and plentiful. Get it wrong and you'll be relying on every car-control skill you've ever learned. Barring impact or damage, either outcome is wildly entertaining and rewarding.

2009 Dodge Charger

Dodge quietly unveiled an updated Charger for the 2009 model year. While the SXT model remains relatively unchanged for the new model year, the R/T trim level received a rather significant performance bump, while the SE has been downrated.The R/T’s 5.7L HEMI V8 remains for ’09, but more power will be on tap for the new model year, thanks to a new variable valve timing system. Horsepower is boosted from 340 to 368, while torque sees a 5 lb-ft increase to 395 lb-ft -- both figures trumping the Pontiac G8 GT’s 361 horsepower and 385 lb-ft of torque.This engine is equipped with Dodge's Multi-Displacement System (MDS), which can shut off four cylinders during highway cruising and light acceleration for better fuel economy.Despite the increase in power, the R/T will also see a boost in fuel economy. Whereas the 2008 Charger R/T returned 15/23 mpg city/highway, the new, more powerful ’09 model receives EPA ratings of 16 city 25 highway.However, the entry-level Charger SE will be taking a bit of a backslide. Its 2.7L V6 will carry over, but output in now rated at 178 horsepower, down from 190.

Despite having 12 fewer horses under your right foot, the Charger SE won’t be any easier on fuel, matching last year’s ratings of 18/26 city/highway.Exterior changes include newly designed taillights, with the car’s antenna moving to just above the rear window. Interior changes are minimal as well, with the SE now receiving the same interior as the R/T, and the R/T gaining satin silver trim.+The SXT continues with its 3.5-liter V6, delivering 250 horsepower.The R/T and SXT come with a five-speed automatic gearbox, while the SE has a more basic four-speed automatic.

2009 Dodge Caliber

The latest 2009 Dodge Caliber loses its all-wheel-drive model. Otherwise, this compact hatchback is largely unchanged for 2009. Caliber comes in SE, SXT, R/T, and high-performance SRT4 trim levels. All use a 4-cylinder engine and come with front-wheel drive. SE and SXT have a 148-hp 1.8-liter engine when equipped with a 5-speed manual transmission. These models get a 158-hp 2.0-liter engine when equipped with a continuously variable automatic transmission (CVT). R/T has a 172-hp 2.4-liter and comes only with the CVT. The AWD R/T has been discontinued. The SRT4 gets a turbocharged 285-hp 2.4 and a mandatory 6-speed manual. Available safety features include ABS, traction control, antiskid system, curtain side airbags, and front side airbags. Available features include a fold-flat front passenger seat, ventilated glovebox, and removable cargo light/flashlight. Newly available for 2009 is Chrysler's uconnect multimedia suite, which can include a wireless cell phone link, 30-gigabyte hard drive for storing pictures and digital music files, and a navigation system with real-time traffic information.

COMPETITION

Consumer Guide Automotive places each vehicle into one of 18 classes based on size, price, and market position. Compact Cars comprise popularly priced sedans, hatchbacks, and wagons with wheelbases 99.4 inches or longer.Our Best Buys include the Honda Civic, Nissan Versa, and Scion xB. Our Recommended picks are the Chevrolet HHR, Hyundai Elantra, and Mazda 3.New or significantly redesigned models include the Ford Focus (coupe), Hyundai Elantra Touring, Mitsubishi Lancer Ralliart, Pontiac Vibe, Toyota Corolla, Toyota Matrix, and Volkswagen Jetta SportWagen. The Volkswagen Jetta also adds a diesel engine.