With new and used vehicle prices continuing to climb, and the Dollar’s purchasing power on a downward trend, buying used looks to be more financially viable.
So, let’s take a quick look at three used cars that are known for their durability, longevity, and value for money.
Toyota Corolla
In 2021, Toyota was crowned the best-selling automaker in the United States and took the title away from the Detroit Big Three for the first time in 90 years. That fact alone is enough to instill trust in buyers because that sort of feat isn’t accomplished by a carmaker who skimps on quality. Today, a new Toyota Corolla SE costs right around $24,500. If we dial back just three years to a comparable 2021 model, we find numerous examples for sale under $18,000 with less than 50,000 miles. The good news doesn’t end there however, because Toyota has recently won Kelley Blue Book’s Best Resale Value award meaning that when it’s time to part with your trusty Corolla, you’ll get the most money back of any other car brand. A used Toyota Corolla certainly sounds like a good bet.
Honda Civic
When it comes to longevity, Honda needs no introduction. The Japanese automaker has established its reputation for long-lasting vehicles over decades of dedication to simple, yet robust engineering and the Honda Civic is no exception, being well-renowned for its practicality and ease-of-ownership. Currently, a brand-new Honda Civic EX will cost shoppers about $27,000 before any tax, title, or licensing which could easily tip your grand total over $30,000. However, if we take a look at some used 2019 Civics we find several examples for sale with around 30,000 miles for less than $18,000. So, on top of saving about $10k, buyers can also rest easy knowing they’ve purchased a car that is known to last well over 200,000 miles with minimal repair costs.
Hyundai Elantra
In the bang-for-your-buck category, Hyundai certainly impresses with its somewhat funky styling and attractive warranty. Hyundai prices their new Elantra around $23,400 for a mid-tier SEL trim. Turning back the clock just four years, there are several 2020 Elantras for sale right around $16,000 with less than 20,000 miles, a savings of almost $7,500 for a nearly new vehicle. Additionally, Hyundai’s famous 10-year, 100,000-mile limited powertrain warranty is transferable. Having a factory-backed warranty covering all major components is a huge plus when considering a used vehicle, especially when working with a tight budget.
All three of these used models offer great options for prospective buyers, with each showcasing slightly different qualities that can work with a wide variety of budgets and needs. Which one do you think fits your situation best?
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