A vehicle is a big investment, and car prices have skyrocketed over recent years. According to a report from Cox Automotive’s Kelley Blue Book, the average transaction price for a new vehicle in January was $48,641 — an average increase of 4.9% per year since 2020.
If you’re car shopping on a budget, the good news is that you can still find high-quality brands at a low cost.
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Here are six car brands that experts say are high quality and low cost for those on a budget.
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Nissan, Honda and Toyota
“Nissan, Toyota and Honda are and have been high-quality builds at an affordable price,” Chris Pyle, an auto expert with JustAnswer, wrote in an email. “These manufacturers still offer their lower-cost vehicles with some basic amenities to make the cars affordable, and there are still car owners that do not want or need all the extras cars come with now.”
Pyle also recommended sticking with small and midsize sedans, smaller SUVs, and smaller trucks if you want to stay within budget.
“[Toyotas] may not be the cheapest cars on the market, but they have reasonable price points,” explained Melanie Musson, auto industry expert with CarInsurance.org. “Since they depreciate more slowly than average, owners lose less money over their years of ownership.”
Musson also pointed out that Toyota engines are some of the most reliable and reach higher miles than other vehicles. “While you may not want to depend on an average vehicle with 150,000 to take your family on a road trip, you won’t have to worry about taking a Toyota with that many miles,” she said.
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Chevrolet
Chevrolet makes a wide range of vehicles at varying price points. “Some are budget-priced and others aren’t, “Musson said. “But those on a budget will find well-built engines and quality craftsmanship even on the lowest-cost models.
According to Musson, Chevy doesn’t skimp on its entry-level cars, and while entry-level vehicles don’t have all the expensive trim packages, the parts that keep it running and reliable are just as good as those in Chevrolet’s top-tier options.
Kia and Hyundai
Kia and Hyundai are known to be affordable and have decent quality, according to Pyle.
“I would not say they are high quality, but they are good quality,” Pyle said. The most affordable cars may not have all the bells and whistles, but Pyle explained that if you take care of the car, drive it right and maintain it well, they will last a long while without major repairs.
“The high-end models are nice too, but not for those on a budget,” Pyle explained. “I would stay away from the cheapest models, though. They are made cheap to be affordable but are plagued with problems.”
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This article originally appeared on GOBankingRates.com: 6 Car Brands That Are High Quality and Low Cost for Those on a Budget
