New vehicles that give you the best value
Published Monday, June 17, 2013 6:00AM PDT
***Story originally aired January 28. 2013***
You can save hundreds of dollars if you take advantage of car deals, but the latest Consumer Reports list of best value cars shows there's more to getting a good price.
Sticker price is one thing, but how much will a car really cost you to use in the long-term? The Nissan Versa, for example, is one of the least expensive cars sold, but Consumer Reports says its poor reliability means it could end up costing you.
It turns out paying $500 more for the Hyundai Accent is a better value, with better reliability, and it's a much nicer car to boot.
"Our value scores are based on three elements: our road-test scores, predicted reliability from our Annual Auto Survey, and our estimate of how much it'll cost to own the car for five years," said Rik Paul, Consumer Reports automotive editor.
Consumer Reports says the Toyota Prius offers the best value with a sticker price that's under $30,000. Plus, Consumer Reports says over time the Prius costs a very economical 41 cents a kilometre to own.
On the other end of the spectrum is the BMW 750Li. Its sticker price is almost $100,000 and costs a whopping $1.19 per kilometre to own, making it the worst value on the Consumer Reports list.
"Every category from small cars to SUVs have both good and bad performers," said Paul. "But if you want some space and want a good value, we recommend a wagon, a small SUV or a minivan."
Some good choices include the Toyota Sienna and the Mazda 5. If you're looking for a smaller vehicle, Consumer Reports says the base model Mini Cooper is another great value. It costs a low 41 cents per kilometre to own, and it has plenty of luxury features and is a lot of fun to drive, too.
So next time you're shopping for a car, pick one that will save you money in the long run.