The economy is making consumers feel the pinch in many aspects of their lives.  People are paying higher prices for everything from gas to food.  For a lot of people, now is not a good time to pay new car prices.

Recently, Chrysler LLC announced a decline in sales of 19.4% from last year at this time.  Other automakers are noticing the same trend.  GM sales dropped about 18.7% and Ford reported a decline of 14.1%.  Even the all-popular Toyota declined 10.3% in sales.

Instead of buying new vehicles, some consumers are looking to late model pre-owned cars.  Although new vehicle sales were down 2.5% last year, certified pre-owned vehicles increased 2%.  These are cars sold through a dealership that come with a factory auto warranty.  This year certified pre-owned car sales are up 4%.

Other drivers aren’t even taking the gamble.  Instead, they are keeping their old car.  Most of the vehicles made after 1996 are capable of lasting up to 200,000 miles.  Purchasing an auto warranty is a smart way to avoid unnecessary repair costs, and get the most out of your vehicle.