The 15 Most Overpriced Cars And The 20 Best Auto Bargains in the Market Today
We all know that this is definitely a buyers’ market. There hasn’t been a time in recent history when deals and incentives were so prolific. There are special credits like the Cash for Clunkers program, federal tax deductions, low-interest financing, huge manufacturer incentives, summer specials and dealers eager to push cars out at a loss to clear their lots for 2010 models.
But just because something costs much less than it might have a few years ago doesn’t necessarily mean it’s a good deal. And some cars that you might think are not such a good ‘investment’ might not be as bad as you think. Forbes and Vincentric recently reported on the 15 most overpriced cars and the best 20 cars for the money and the results are quite intriguing. Both the BMW M3 and Nissan GT-R made appearances, but what list they appear on may be a suprise.
Using market price figures from Vincentric, Consumer Report’s Owner Satisfaction survey and JD Power’s 2008 APEAL data (Automotive Performance, Execution and Layout), Forbes came out with a list of The 15 Most Overpriced Cars. And drumroll please… Here they are:
Dodge Ram pickup (market value is 26 percent lower than MSRP)
Mercury Grand Marquis (21.4 percent less)
Jeep Liberty (20.9 percent less)
Dodge Nitro (20.6 percent less)
Dodge Durango (19.5 percent less)
Dodge Caliber (18.7 percent less)
Chevrolet Trailblazer (16.4 percent less)
GMC Envoy (16.1 percent less)
Jeep Wrangler (14.9 percent less)
GMC Canyon (11.9 percent less)
Ford Ranger 2WD (11.5 percent less)
Pontiac G6 Sedan (11.3 percent less)
Ford Ranger Supercab (11.1 percent less)
Chevrolet Colorado (11.1 percent less
Pontiac G6 Coupe (10.8 percent less)
Interestingly enough all of the vehicles on this list are American. And there is a 50/50 split between cars and SUVs. A 2009 Dodge Ram 1500 pickup has an MSRP of $22,420. With Forbes calculated 26% dip in market value, that vehicle loses $5,829 off the rip. Like GI Joe says “Knowing is half the battle.” Data like this in really invaluable for making purchase decisions and understanding true market values.
Vincentric recently published a study that evaluated the real cost of cars by looking into their depreciation, fuel and insurance costs, financing, maintenance, taxes, state fees, repairs and opportunity costs. Based on all of their number crunching they came out with a list of The 20 Best Cars for the Money.
Acura TSX (premium compact sedan): MSRP $29,160
BMW 5-Series (mid-size sedan): MSRP $45,800
BMW 5-Series (premium wagon): MSRP $55,800
BMW M3 (premium compact coupe): MSRP $54,850
BMW X6 (premium mid-size crossover): MSRP $55,900
Buick Enclave (premium large crossover): MSRP $35,845
Chevrolet Malibu (hybrid car): $26,225
Chevrolet Silverado 1500 (full-size pickup): $20,350
Chevrolet Tahoe (Hybrid SUV/Crossover): $51,405
Honda Accord (compact coupe): MSRP $20,905
Honda Civic (compact sedan): MSRP $15,305
Infiniti M35 (premium large sedan): MSRP $45,800
MINI Cooper (subcompact): MSRP $22,600
Nissan GT-R (sport car): $80,790
Saab 9-3 (premium convertible): $42,905
Subaru Outback (wagon): MSRP $22,295
Toyota 4Runner (mid-size SUV): MSRP $28,640
Toyota Camry (entry level mid-size sedan): MSRP $19,145
Toyota Land Cruiser (premium large SUV): MSRP $64,755
Volkswagen Tiguan (mid-level compact crossover): MSRP $23,200
Only 4 out of the top 20 vehicles are American, which is not surprising, but indicates that for all the domestic car market spin, the US still has a lot of catch-up to do. But what makes us very pleased, and the reason this article was actually written, is the fact that the amazing BMW M3 and the oustanding Nissan GT-R both appear on the top 20 list of best cars for the money. I expected to see the Chevy Corvette or Nissan 370Z here but alas, it is not so. But two of our favorites made the list…