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How To Find The Best Value Cars

By Jason Price 7 Comments - The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited April 3, 2010.

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I recently received the new Consumer Reports Top 2010 cars edition.  This annual review provides a number of interesting car analyses covering ratings, reliability, value and performance (as mentioned in the title).

While the top picks and best and worst cars sections are certainly interesting, I was much more attracted to the best values of cars.

As an aside, my approach for cars is to purchase a used car (when needed) and drive it until it is either unsafe or to the point to where repair is just ridiculously out of the question.

When in the market for a new used car, having such information can be extremely beneficial.  Doesn’t everyone want to drive a car 200,000 miles plus?  Of course!

As the article concludes, most people are looking to make every dollar count these days.  Hunting for a car based on value, according to Consumer Reports, will provide you a vehicle that performs well for the least amount of money.

Quick Navigation

  • How Does Consumer Reports Define Value?
  • Cars That Provide The Most Value
  • How can you use this information when shopping for a car?
  • Final Thoughts

How Does Consumer Reports Define Value?

Consumer Reports determines their value score based on three areas:

Best Value Cars
1.  Road tests:  They perform a bunch of tests and evaluate a cars performance based on those tests.  No need to go into the technicalities unless you’re a serious car person.
2.  Reliability ratings:  These are forecasts have how new cars will hold up based on information provided by subscribers.
3.  Five year owner-cost estimates:  Consumer Reports states these estimates include such costs as depreciation, fuel, insurance premiums, interest on financing, maintenance, repairs and sales tax.

Essentially, (and this is why their scoring is so helpful), Consumer Reports tries to identify what you’re going to get for your money.  Based on the above, you can see definitely see why the lowest purchase priced vehicle doesn’t always provide you the most value.

We often forget that concept as consumers.  Often we look for the best deals in the store, but find the product doesn’t give us the value or dependability we’re really seeking.

In the car buying situation, you might find a really cheap car, but not be able to drive it more than 5 years.  This completely goes against my strategy of ridding our family of car payments forever!  You can drive certain cars as much as 10 years (and maybe more) based on their overall value and that’s what we’re looking for folks!

Cars That Provide The Most Value

So, here we go with the results.  Consumer Reports provides the top value scoring cars across the following categories:

  • Small cars
  • Family cars
  • Upscale sedans
  • Luxury sedans
  • Sport cars
  • Wagons/Minivans
  • Small SUVS
  • Midsized SUVS

It’s probably not a shocker, but the analysis concluded small cars and family cars have the best overall value scores.

Within the small car category you’ll find the Honda Fit, Volkswagen Golf and Honda Civic in the top 3 (yeah for the Civic (my car)).  The top 3 in the family cars include the Toyota Prius IV, Volkswagen Jetta and Toyota Camry.  It’s worth noting that most of the top models are from Asian companies.  Consumer Reports notes the analysis shows a total of 12 models built by Toyota, 8 by Honda and 5 by Nissan.

About 4 years ago I was in the market for replacing a horrible lemon, my VW Passat.  Quite honestly, the luxury, sporty look and features attracted my wife and me.  But, we paid dearly and literally for this car.  We needed a new strategy.  The strategy was one focused around value (remember, price for the least amount of money).  So, we found a Honda Civic and have never been happier.

How can you use this information when shopping for a car?

If you’re in the market for a car, I recommend picking up a copy of this particular Consumer’s Report.  In my opinion, the approach to finding a good reliable car should have a value oriented focus and this article is an excellent resource.

Final Thoughts

It’s important to note that the analysis for car value doesn’t cover such things as the color of the car, type of interior or the overall look as was heavy on our minds when we bought our VW Passat .  If you’re truly trying to save and get more for your money, try to find a compromising approach or balanced approach.

Look within these high valued cars across the categories and find something that provides value, meets your needs first.  But don’t forget about the esthetic things as well.  Keep those in mind too and you’ll feel good about your choice.  And your checking account will look better too!

What are your thoughts on what are the best criteria for finding a car that has good value?  Tell us your thoughts in the comments!

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Last Edited: 3rd April 2010 The content of biblemoneymatters.com is for general information purposes only and does not constitute professional advice. Visitors to biblemoneymatters.com should not act upon the content or information without first seeking appropriate professional advice. In accordance with the latest FTC guidelines, we declare that we have a financial relationship with every company mentioned on this site.

This article is about: Get Out of Debt, Miscellaneous

About Jason Price

Lead tech projects by day - write about money at night. I'm on the journey to financial freedom so I can give more of the resources entrusted to my care. Read more at jasonrprice.com or connect with me on Twitter.

Comments

    Share Your Thoughts: Cancel reply

  1. Barbara Ling, Virtual Coach says

    I make it simple – I simply buy MommyMobiles (ie, a minivan that can pack a husband, a passel of kids and 2 mooses). We just returned from a 11.5 hour trip done in one day….worked beautifully.
    Barbara Ling, Virtual Coach´s last post ..A Secret Expert Glimpse Into PROFITABLE April Fools Day Postings (ie, how to write one)

    Reply
  2. Randy Redd says

    Thanks again Jason for another very practical and informative article. I’ve used Consumer Reports for years, in many categories and I fully believe the purchases based on their input have been the wisest I’ve made. This is ‘Informed Decision-making’ at it’s best!
    Thanks again.
    Randy Redd´s last post ..Giving Comes From What God Has Given to Us – 2 Corinthians 9:8-10

    Reply
    • Jason @ One Money Design says

      Thanks, Randy. Believe it or not, I just subscribed to Consumer Reports this year for the first time. I’ve found a ton of useful information to make well informed and wise purchase decisions. Cars are one of the largest purchases, so I say find something that is going to provide the most value for your dollar!
      Jason @ One Money Design´s last post ..Friday Round Up: Happy Easter!

      Reply
  3. david/yourfinances101 says

    Would anybody out there consider me a complete moron if I said I would still consider buying a Toyota?

    Just being honest. I think this will all blow over, they will return to excellence, and if I time it right, I can probably get a great deal on a new one.

    Reply
    • Jason @ One Money Design says

      David, not at all. I think Toyota’s are still good cars and have a lot of value. I’ve drive them in the past and personally, still rank them up their with Honda.
      Jason @ One Money Design´s last post ..Friday Round Up: Happy Easter!

      Reply
  4. daddy paul says

    Good points for driving a car 200K+. You have got your monies worth.
    As an engineer I do not like Consumer reports as a whole. After designing products for 40+ years I would think they could provide more useful information.

    Reply
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