The results from the latest Consumer Reports owner's survey let us show credit-challenged consumers the most reliable cars that will fit their budgets.
Reliable New Cars
Buying a new car that's both affordable and reliable is especially important for borrowers with credit issues. Taking a look at the various vehicle segments, affordability usually dictates choosing a subcompact or compact car. These vehicles are not only more affordable to finance – meaning they can save you money on interest expenses - but in most cases they're also more affordable to insure. They can also save you at the gas pump.
However, there is also a difference between the price of a vehicle and its cost. The price is the figure you pay for it, while its cost includes the aforementioned insurance and fuel expenses, as well as its maintenance costs. Those maintenance costs usually can be attributed to how reliable a vehicle is.
Consumer Reports Most and Least Reliable New Cars
Consumer Reports (CR) recently published the results of their Annual Auto Survey – a report based on responses from subscribers covering more than 740,000 vehicles and nearly 300 models with a minimum sample size of 90 vehicles per model line. With this information, CR is able to determine "which cars are apt to be headaches from the get-go, and which have the best odds of staying healthy."
We sifted through the results and chose the most affordable cars for credit-challenged buyers. Here they are:
Most reliable new subcompact cars:
- Nissan Versa Note
- Hyundai Accent
- Honda Fit
- Chevrolet Sonic
- Hyundai Veloster
Most reliable new compact cars:
- Subaru Impreza
- Toyota Corolla
- Mazda Mazda3
- Hyundai Elantra
- Kia Soul
- Kia Forte
Least reliable new subcompact and compact cars
On the other hand, the Consumer Reports survey indicates that if you're looking for a reliable subcompact new car, you should shy away from the latest Kia Rio, Fiat 500 and Ford Fiesta. Compact car buyers should also avoid the Volkswagen Jetta, Golf and Beetle as well as the Nissan Sentra, Dodge Dart, Ford Focus and Fiat 500L.
The Bottom Line
If given the choice of a new car once they've received a loan approval, borrowers with tarnished credit would be better off picking the model with the better record of reliability. Certainly the latest results from Consumer Reports should point buyers in the right direction.
Here's another tip: Auto Credit Express specializes in placing credit-challenged applicants with dealers that can give them their best chances at getting approved for a car loan.
So if you're ready to take that first step in improving your auto credit, you can begin now by filling out our online auto loan application.