With the average price of a new car currently around $30k, buying new is simply not an option for many consumers, especially those adding additional cars out of family necessity. According to Requisite Press’ Auto Buyer’s Affordability Index, the average median-income household can comfortably afford just over half that amount.
CNW Market Research estimates that over 41 million used cars will be sold in 2014, up from last year. The highest point recently was in 2005, when over 44 million changed hands. As the economy improves and some buy new, there are more affordable used cars available. The cost of a used vehicle is predicted to fall to their lowest levels in almost six years after a period of inflation and shortage following the economic collapse of 2008.
iSeeCars.com has compiled a list of the longest lasting used vehicles that can be purchased at the best prices. These are cars that, when maintained properly, can last 200,000 miles or more and are selling for about ten percent below market value.
So who made the list? Some heavy hitters are included, like Ford’s F150, the Chevy Silverado, the Honda Accord and Toyota Camry. Here, you can see the entire slide show. The best deals list reflects the current market, and the high demand for small cars and compact crossover SUVs keep prices high enough to keep them off the list. The only small car with enough of a discount to make the list is the Honda Civic.
All the models on the Best Value list come from domestic and Japanese companies, namely Ford, GM, Honda/Acura and Toyota. High maintenance/repair costs limit the appeal of most European models. Owners of luxury brands also tend to pamper their vehicles and drive them longer than typical family cars.
To compile the data, iSeeCars studied about 400,000 listings from cars it had already determined to be longest lasting vehicles from years prior. From the 2008 to 2012 model years and posted between April 1 and August 1, 2014, iSeeCars selected the top ten models that had the most units listed for sale and were offered at the highest rates under market value.