When it comes to buying a new car, two things are usually top of mind for most people: getting a great deal and ensuring their car will be reliable for the long haul. So, how can you find the perfect balance of price and reliability?
The experts at iSeeCars recently analyzed over 3.8 million new car sales to determine which cars offer the best reliability for the money. The average list price of each model was compared to its expected lifespan (in years) to calculate the list price per year.
The analysis determined that new cars have an average list price of $48,106 and an average lifespan of 11.5 years, which breaks down to an average cost of $4,197 per year for the car's lifespan.
So, how does this translate to actual car-buying decisions? The key takeaway here is the price per year — it’s a way to see which cars offer the best value for money over time. By comparing both the purchase price and expected lifespan, you can get a solid idea of what kind of return you’re getting on your investment.
“With new car prices remaining at near record highs, getting the best value for your new-car dollar remains a top priority for most consumers,” iSeeCars Executive Analyst Karl Brauer said in a statement. “We’ve identified the models offering the lowest purchase price and the longest lifespan, helping consumers maximize their new car budget.”
Known for its fuel efficiency and reputation for durability, the Honda Civic claims the number one spot for the most reliable new car for the money. With a predicted lifespan of 13.7 years and an average price of $27,564, the Civic costs just $2,006 per year over its lifespan.
Next up, is the Toyota Corolla and the Mazda Mazda3 (Hatchback) rounding out the top three spots. These two vehicles are also known for their reliability, fuel efficiency and low cost of ownership.
The Honda Accord, a midsize sedan with a strong track record of longevity, and Subaru Impreza (Wagon), with its all-wheel-drive capability and rugged nature, finish out the top five.
One think you’ll notice is the vast majority of cars on this list hail from Japanese and Korean automakers. Toyota leads the charge with four models, followed by Honda with three. Mazda and Nissan each have two models, and then there’s a mix of one model each from Hyundai, Kia, Mitsubishi and Subaru.
Top 10 Most Reliable New Cars for the Money
1. Honda Civic
2. Toyota Corolla
3. Mazda Mazda3(hatchback)
4. Honda Accord
5. Subaru Impreza(wagon)
6. Mitsubishi Outlander Sport
7. Honda CR-V
8. Toyota RAV4
9. Kia Soul
10. Mazda Mazda3(sedan)