We slice and dice the latest Vincentric report to come up with the best certified used cars for credit challenged borrowers

What We Know

At Auto Credit Express we realize that for car buyers with bad credit looking for a certified pre-owned (CPO) car, it's important to keep in mind the overall ownership cost if given a choice of vehicles.

The Price is Not the Cost

Best Certified Used Cars for Poor Credit Buyers

Borrowers, even those with credit issues, need to realize that they need to consider more than just the selling price when picking out a vehicle. Over the course of ownership, a number of expenses in addition to the monthly payment must be considered. These include fuel efficiency, reliability, maintenance costs and, in particular, a vehicle's depreciation.

We were reminded of this earlier today when Bingham Farms, Michigan-based Vincentric released its 2014 list of the best CPO values in America. According to Vincentric, they:

…analyzed over 13,000 vehicle configurations, using eight cost factors including depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. Each CPO vehicle was evaluated in all 50 states plus DC assuming each has been driven 15,000 miles per year, with the expectation that they will be driven an additional 15,000 miles per year over the coming five years.

Fine Tuning

As with most of these lists, in order to make them more relevant to credit-challenged car buyers looking for bad credit auto loans we usually have to do some fine tuning. In this case we had to drop every vehicle in the premium category (too expensive) as well as the all- electric Nissan Leaf (not practical), any sedan larger than mid-size as well as all the crossovers, convertibles and trucks (all too expensive). Although a couple of vehicles included in the list including the Scion iQ and Honda CR-Z are probably too small for most families, we decided to leave them in.

The Best Value Cars (For Bad Credit)

So here is our selection of Vincentric's Best CPO Value in America 2014 award winners:

Micro: Scion iQ
Subcompact Coupe: Hyundai Veloster
Subcompact Hatchback: Honda Insight
Subcompact Sedan: Toyota Yaris
Compact Coupe: Honda CR-Z
Compact Sedan: Honda Civic Hybrid
Mid-Size Coupe: Honda Accord
Mid-Size Sedan: Toyota Camry

The Bottom Line

Car buyers, especially those with blemished credit, should never confuse price with cost. The price is what you pay for a car, while the cost includes all the expenses involved over the course of ownership. Factors like maintenance and insurance are all factors you should consider even before you seek pre-approval for a car loan, even with bad credit.

One thing that isn't confusing: Auto Credit Express matches applicants with credit issues to those dealers that can offer them their best opportunities for auto loan approvals.

So if you're ready to begin the process, you can begin now by filling out our rel="nofollow">online auto loan application.