The average monthly car payment hit a record $736 in the third quarter of 2023 thanks to a 7.4% average APR and an average MSRP just south of $48,000. With numbers like that staring them down, buyers might assume that the lowest price tag in their category of choice is always the best option.
More Bang for Your Buck: These 20 Cars Will Last You Twice as Long as the Average Vehicle
Learn: How To Get Cash Back on Your Everyday Purchases
However, when inexpensive means cheap, drivers spend more in the long run to pay for the endless repairs and maintenance issues that plague poorly built vehicles. Instead, they should consider the following cars, trucks and SUVs, which cost more than some comparable models but save their owners money over time by staying out of the shop.
Sponsored: Get Paid To Scroll. Start Now
Subaru Outback
Subaru’s flagship model starts at $28,895 — and you can certainly find cheaper midsize SUVs.
“The Outback is one of the more expensive crossover vehicles,” said Melanie Musson, an industry expert with AutoInsurance.org. “However, it’s worth spending more because they’re reliable. Their engines are excellent and known for durability. Their all-wheel drive and ground clearance make them ideal in winter weather and back roads, and they retain their value, so you’ll get back a lot of what you bought one for.”
And the Outback isn’t alone — the entire nameplate is known for dependability, durability-based long-term value, and, of course, its famous standard AWD.
“Subarus have a strong reputation for versatility and reliability,” said Mark Beneke, co-owner of Westland Auto Sales car dealerships and full-service repair shop in Fresno, California. “While they may not be the cheapest to work on, their engines and all-wheel-drive systems are extremely durable, so it limits the number of repairs needed. Plus, the all-wheel-drive system makes these vehicles jacks of all trades.”
A 3-Year-Old Car Used To Be Affordable: Now the Same Price Gets You a Car More Than Twice as Old
GMC Sierra 1500
If you’re in the market for a pickup, you might scratch the GMC Sierra 1500 off the list because its $37,200 starting MSRP is higher than that of the Ford Ranger, Ford F-150, Chevy Colorado, Chevy Silverado and Ram 1500.
But before you rule it out, consider that GMC asks a little more up front in exchange for long-term dependability.
“GMC costs more than its Ford and Ram competition, but it’s worth it,” said Musson. “When some trucks get a couple of years old, you’ll start dealing with annoying things like power going out to door locks, rattling parts and other small problems. GMC manufactures a step above the competition and puts as much effort into the details as it does into the engine.”
Lexus ES
The name Lexus is synonymous with luxury, and the ES starts at over $43,000. It’s a bargain, though, when considering how expensive luxury cars are to repair — and how infrequently the ES is in the shop.
“The Lexus ES is a smart buy in the luxury segment,” said Patryk Doornebos, owner and lead author at the automotive blog Car Triple. “It’s pricey up front but saves you money with its Toyota-derived reliability and low repair costs, not to mention its strong resale value. It’s a luxury car that’s cost-effective in the long run.”
Genesis G80 and G90
Just as Lexus inherits the famous reliability of the Toyota brand that owns it, the Genesis luxury nameplate is owned by Hyundai, another automaker known for infrequent trips to the mechanic.
The G80 starts in the mid-$50,000s and the G90 starts at a hair under $90,000, outclassing even the Lexus ES — but higher MSRPs sometimes translate into better long-term value.
“The perception of luxury cars as expensive upfront investments is often balanced out by their reliability and lesser frequency of required repairs,” said 30-year auto industry veteran Frank De Mulder, owner of ClassicCarMaintenance. “Some notable models in this category for 2023 include the Genesis G80 and Genesis G90, which have been recognized for their dependability and luxury at a relatively affordable price point compared to their counterparts.”
Honda Accord
According to Kelley Blue Book (KBB), at least seven midsize sedans have lower starting MSRPs than the Honda Accord, including the Subaru Legacy, Chevy Malibu, Hyundai Sonata, Kia K5, Nissan Altima, Toyota Camry and Volkswagen Passat.
Even so, KBB still named the Accord its “Midsize Car Best Buy of 2023.” Beneke said, “Accords are known for their longevity and minimal repair needs, which can make them a good value proposition despite a higher upfront cost.”
Pretty Much Any Electric Vehicle
The EV market has welcomed several relatively affordable models in recent years, but they still cost more, on average, than comparable ICE models. But when you go electric, you leave behind the headaches and expenses that are inherent to even the best engines.
“Pretty much any model of electric vehicle is a prime example of a car that may seem expensive up front, but which can actually be economical in the long run due to their minimal repair needs,” said Aidan Rushby, CEO and co-founder of vehicle-financing platform Carmoola. “EVs have fewer moving parts, which means there’s usually less that can go wrong, leading to lower repair costs. The cost of consumables like tires, brake discs and pads will still need to be factored in, and as EVs are typically heavier than their combustion-engined counterparts, you may need to replace these a little more frequently. But, on balance, and with the savings on fuel factored in, an EV can be a better option long-term.”
More From GOBankingRates
This article originally appeared on GOBankingRates.com: These 7 Cars May Seem Expensive — But They Rarely Need Repairs
Credit: Source link