Many car shoppers are skipping new car lots and focusing all their attention on the used car market. That is why, for the very first time, Consumer Reports is expanding its online vehicle ratings and recommendations to include used trucks, sedans and SUVs.
"It starts with the fact that the average transaction price for a new car right now is still $48,000, give or take, which is just a ton of money," said Alex Knizek, the associate director of auto test development for Consumer Reports.
Given the price tag on a new car or truck, it's no surprise many shoppers are turning to the pre-owned market.
In a survey by Consumer Reports, 40% of Americans who were in the market for a vehicle in the past year were only considering used vehicles. That's compared to 31% who were only considering new cars and 24% who were open to either.
RELATED STORY | First, his car was stolen. Now, his lender says he still owes $6,000
Consumer Reports' analysis ranked 26 car brands based on the reliability of models between 5 years old and 10 years old.
The top 10 used car brands, according to Consumer Reports, are:
- Lexus
- Toyota
- Mazda
- Acura
- Honda
- Buick
- BMW
- Subaru
- Nissan
- Mercedes-Benz
In Consumer Reports surveys, Knizek said, drivers reported fewer problems with brands like Lexus, Toyota and Mazda. He said those brands are also known for more modest redesigns which "tends to lend itself towards good reliability," he said.
Knizek said just because a brand is lower on the list, that does not mean every car made by that brand is unreliable.
"Chevrolet is a good example," Knizek explained. Overall, Chevrolet falls around the middle of the pack. "If you look at the individual vehicles, something like the 2018 or 2019 Chevrolet Equinox actually has above-average reliability. So, it's a bit of a diamond in the rough so to speak," said Knizek.
Auto mechanic Jeff Landrum, of Ron's Service Center in Covington, Kentucky, says he's a big fan of Toyotas for their reliability.
RELATED STORY | Refinance rush is on as rates fall: Should you refi now or wait?
"Toyota came out with a very comprehensive maintenance schedule that you're supposed to follow in order to get that car to be able to go the 200,000, 300,000-mile interval," Landrum said. "Parts are readily available. Parts are not overpriced."
A case in point is a 2012 Toyota Camry his shop has been servicing for more than a decade.
"We've maintained this lady's car since she bought the car new," he said. "She's had little to no issues with the car."
Consumer Reports also revealed its top picks for used models in specific categories and price ranges. For example, Consumer Reports recommends the 2017 Chevrolet Cruze as the top small sedan under $10,000, while the 2019 Hyundai Elantra is the top small sedan under $15,000. The 2021 Kia Sportage made the rankings as the top small SUV under $20,000.
A trio of Toyotas made CR's top used car picks:
- Hybrid SUV under $20,000: 2018 Toyota RAV4 Hybrid
- Hybrid small sedan under $20,000: 2021 Toyota Corolla Hybrid
- Pickup Truck under $20,000: 2015 Toyota Tacoma
Landrum said buying a used vehicle and making it last is all about following the recommended maintenance schedule for that vehicle.
"In my opinion, it's extremely important," he said. "It's the life of any vehicle."
He recommends getting a CARFAX report on any vehicle before you buy it to check for regular maintenance.
"I tell all my customers, the road to 200,000 miles isn't free," Landrum said.
Knizek said a vehicle history report will also alert shoppers to possible odometer fraud, or damage from a fire, flood or past accident.
"Don't Waste Your Money" is a registered trademark of Scripps Media, Inc. ("Scripps").
For more consumer news and money saving advice, go to www.dontwasteyourmoney.com.
