Best New Cars in 2013 for Poor Credit Buyersby Steve Cypher on Monday, November 26th, 2012
When it comes right down to it, car buyers with less than perfect credit should realize that there is a difference between the price and cost of a new car.
Here at Auto Credit Express we know this to be true especially if that new car is being financed with a bad credit auto loan. We’ve come to this conclusion after spending more than twenty years helping buyers with low credit scores find dealers for their best chance at car loan approvals.
Explaining price and cost
The price of a vehicle is what you pay for it. But over the lifetime of car ownership, the total overall costs should also be considered which include: fuel efficiency, reliability, maintenance and, in particular, depreciation.
According to the experts at Kelley Blue Book, during the typical five year term of ownership a car’s loss in value (called depreciation) is inevitably the largest part of its cost to owners.
Depreciation is also one area where car shoppers can cut expenses simply by choosing a model with better than average resale value.
2013 KBB Best Resale Value
Based on Kelly’s projections, its Best Resale Value awards are meant to “honor vehicles expected to maintain the greatest proportion of their original retail price after five years of ownership.”
According to Kelly, “Since depreciation (or loss of value) is typically a car buyer’s primary expense during ownership, these awards, like all of kbb.com’s new- and used-vehicle information, are designed to help consumers make more informed car-buying decisions.”
Our winning choices
For buyers with credit issues, we’ve listed the winners and top finishers in the two most affordable categories – subcompact and compact cars, along with comments from Kelley Blue Book:
2013 Best Resale Value: Subcompact Car
Best Subcompact Car
2013 Honda Fit
The Honda Fit retains its spot as the resale value leader in the subcompact car class for a third straight year, and it’s easy to see why. The Fit stands out for its fuel economy, reliability and affordability. And then there is the Fit’s interior flexibility, which begets this hatchback’s name. Innovative touches such as hidden storage compartments and a multitude of ways to flip and fold the seats enable this small car to swallow lots of stuff.
at 36 months: 61.5%
at 60 months: 44.5%
2nd Place Finisher:
2013 Scion xD
With its impressive reliability record, surprising interior space and customization options, the Scion xD offers practical utility and youthful exuberance.
at 36 months: 58.0%
at 60 months: 44.0%
3rd Place Finisher:
2013 Toyota Yaris
The Toyota Yaris’ recent revamp injected this 3- and 5-door hatchback with fresh styling, while retaining its low starting price and high fuel economy.
at 36 months: 55.8%
at 60 months: 42.6%
2013 Best Resale Value: Compact Car
Best Compact Car:
2013 Honda Civic
Reliability, fuel economy, great driving manners and low pricing have made the Honda Civic the benchmark of compact cars ever since it was introduced 40 years ago. As with past models, the 2013 Honda Civic retains those favorable attributes while also standing out for its ability to hold value, leading the pack in the compact car segment.
at 36 months: 62.3%
at 60 months: 46.9%
2nd Place Finisher:
2013 Scion tC
Roomy rear seats and features like a panoramic roof make the sporty Scion tC coupe more practical and better equipped than one would expect.
at 36 months: 60.0%
at 60 months: 46.5%
3rd Place Finisher:
2013 Subaru Impreza
The only compact car available exclusively with all-wheel drive, the Subaru Impreza remains a stalwart in the more seasonally dynamic sections of the country.
at 36 months: 64.9%
at 60 months: 44.6%
As we see it
Price should never be confused with cost, especially for consumers on tight budgets financing vehicles with high-risk auto loans. According to Kelley executive Jack R. Nerad, “Choosing makes, models and options wisely now can help new-car shoppers keep additional money in their pocket down the road when they go to sell or trade-in the vehicle used.”
Another tip for these buyers: Auto Credit Express specializes in helping applicants with car credit issues find dealers for their best chances at auto loan approvals.
So if you’re ready to reestablish your auto credit, you can begin now by filling out our online auto loans application.