For the last six years, the car business has been “bad news bears” for your wallet. Automakers have developed a real addiction: They only want to make and sell crazy expensive vehicles. It has reached a point where they have priced their products right out of the reach of most Americans.
But I have a counterpoint to that gloom and doom.
Consumer Reports recently put together a fantastic matrix. They looked for vehicles that are not only affordable but are actually good vehicles to own. While the average cost of a new car in the U.S. has skyrocketed to over $50,000, every single one of these vehicles starts in the $20,000 range.
If you are looking for a reliable ride without the soul-crushing monthly payment, here are the top five affordable vehicles according to Consumer Reports:
You’ll notice a trend here: Most of these are small crossovers or traditional passenger cars. The American market has shifted heavily toward SUVs because automakers love the profit margins. They know buyers perceive SUVs as more valuable, so they jam on extra options and run the prices way up. Don’t fall for the hype — traditional passenger vehicles will get you where you’re going just as well for a fraction of the cost.
See the full list at Consumer Reports.
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