Are budget-friendly vehicles a thing of the past? Is it possible to find budget-friendly vehicles that are also reliable? Is that too much to ask for?
Nope!
The average vehicle payment in 2022 is $644 per month for a new car and $488 for a used car. I believe that my first house payment was lower than $644 per month!
There are good deals to be found. Don’t feel pressured to buy a lemon. Yes, you might the pressure to make a decision without all of the facts. Resist!
I am confident that you can get a reliable and budget-friendly vehicle for much less than those crazy payments.
We’ve done a ton of number crunching and site reviews for you. The following parameters were considered: Insurance costs, gas mileage, odds of exceeding 300,000 miles, safety ratings, dependability, and several reviews by automotive journalists.
The data suggests that these seven vehicles provide the most bang for your automotive buck.
The most reliable and budget-friend vehicles, according to our super-secret methodology, are the: Toyota Corolla, the Honda Civic, the Toyota Camry, the Subaru Outback, the Honda Accord, the Honda Odyssey, and the Honda CRV.
The price points for these are all over the map. New(ish) Hondas, Toyotas, and Subarus hold their value well and for good reason.
As Scotty Kilmer boldly declares, “You don’t get what you don’t pay for!”
If you would like a solid vehicle that will last you many, many years you should at least consider one of these beauties.
Budget Friendly and Reliable Vehicles — Only Made In Japan?
American-made vehicles were considered in our methodology but came up short. Several American-made pickup trucks cracked the top ten for reliability. However, few if any, could be considered budget-friendly.
This is not a hit-piece on the Motor City. The data was drawn from ten unique sources and compiled accordingly.
For the record, I’ve owned about fifteen vehicles throughout my life. I was a died-in-the-wool Detroit guy from the time I was sixteen until I turned fifty. I’ve owned a GMC S-15, a Buick Skylark, a Chevy Malibu, a Chevy Beretta, Lumina, Camarao, Celebrity, Citation, Ford Taurus (2), Mercury Sable, Olds Delta 88, and a GMC Terrain.
We currently drive a Toyota Camry (20 + years) and a Honda Civic. Both treat us quite well.
Let’s review some of the most reliable and budget-friendly vehicles available today.
1. Toyota Corolla
Personally, I’ve never owned a Toyota Corolla. I don’t believe that I’ve even ridden in one.
No matter! The Toyota Corolla, across the board, is rated as our top pick of one of the most reliable and budget-friendly vehicles available.
Pros: These cars, when properly maintained, will last FOREVER! Gas mileage is a plus. They are the best-selling car of all time, too.
Cons: Not too many bad things to say about a Corolla. They are a bit on the smallish size. Large families might need to take a pass on a Corolla.
The best years for a Corolla are 2020, 2018, and 2016. The larger your budget the newer you can buy. Avoid the 2014 and 2015 models.
2. Honda Civic
We love our Honda Civic. Yes, it might be considered a bit “boring” but that’s okay. At one point my wife was doing a massive amount of driving from Illinois to Michigan. We needed something with great gas mileage.
Enter the Honda Civic! It gets nearly forty-four miles to a gallon. There is something magical about going 500 miles on a single tank of gas!
Honda makes the best engines. If you’re looking for a car that can easily bust 250,ooo miles this is what you need!
Pros: Killer gas mileage. Peppy little engine.
Cons: It sits low so visibility is often hindered.
Steer clear of the turbo engines. If you can get a standard transmission do that! 2016, 2017, and 2018 models are reliable and quite affordable. You will save a ton of money on gas!
3. Toyota Camry
I currently drive a 2001 Toyota Camry. When I worked in Chicago it was my “train & plane” car. Since it was older I didn’t stress out about the inevitable door dings from my careless friends at the train station and in the Economy Lot at O’Hare.
Pros: Reliable, reliable, reliable!
Cons: Gas mileage is not the greatest.
Don’t let anyone tell you “cheap” cars cannot be bought. I am currently looking to sell my 2001 Camry for about $2,000. It runs very well, starts every time, the AC pumps cold, and the heat does its thing.
Avoid car lots and car Pez dispensers, and take your time! Good deals are out there you just got to do some mining!
4. Subaru Outback
Subarus continue to gain in popularity. They have an almost cult-like following. Every time I bump into a Subaru owner I ask them, “How do you like your Subaru?”
The only answer I have heard is, “I LOVE MY SUBARU!”
The Outback was ranked #2 in one survey for vehicles that should exceed 300,000 miles, behind only the Honda Civic. It’s a top safety pick and was ranked #1 for cheapest insurance costs.
Pros: Subaru has perfected the all-wheel-drive vehicle. They handle well in the snow and in other sketchy road conditions.
Cons: Some mechanics aren’t fans of their engine design. If you live in a rural area it might be difficult finding a mechanic.
5. Honda Accord
Honda continues to crank out reliable vehicles! Larger families might lean towards an Accord instead of a Corolla or Civic.
Accords have a solid reputation for dependability and reliability. You can’t go wrong with an Accord.
Pros: Great gas mileage for a mid-size vehicle.
Cons: Some feel as though Accords are boring cars. If boring means not visiting the mechanic all of the time then sign me up!
6. Honda Odyssey
The Honda Odyssey is a stylish minivan. If your family is large or you just need some additional room you must check out the Odyssey.
The Odyssey took the bronze in one survey for vehicles that should exceed 300,000 miles. I’ve only had one car that did that and it was awesome!
If you need reliable and affordable transportation for a growing family then check out the Honda Odyssey.
7. Honda CRV
The Honda CRV has been duking it out with Toyota RAV4 for decades. Both are great vehicles but the CRV eked out a victory in our super-secret scoring method.
The CRV has been reliable for decades. Honda is beginning to make them a bit more stylish as well.
Good gas mileage and an SUV that could eclipse 250,000 miles? Why not!
Act Rich Or Be Rich — Big Hat No Cattle
Automobiles are the Achilles’ heel of many families looking to generate wealth. For most families are car of some type is necessary.
The idea that “I will never get out of debt so I might as well go large” wreaks havoc on many financial plans. Breaking free from car debt is possible. Here’s an article I wrote about getting and staying out of debt. Take a peek and allow it to help you!
Cars crush financial dreams. There are many affordable vehicles on the market but you can’t be lazy, shy, or complacent.
We bought our 2001 Toyota Camry about ten years ago and we’re still driving it. I worked with a person who had been driving it for a very long time — she bought it new. One day I casually asked her if she was ever going to sell it and if she was to let me know. I would surely give her more than the dealership as a trade-in.
We had that same conversation a few more times.
I came into work on a Monday about six months after our initial discussion.
Act Rich Or Be Rich
“Are you still interested in buying my Camry?”
I was kind of caught off guard, “Yes, our daughter turns 16 in about a month and that would be a great car!”
“We went car shopping over the weekend and are buying one tonight. If you want mine let me know.”
I went home and got my checkbook and wrote it a check for way below Blue Book! SCORE!
It’s better to be rich than to act rich. Most people act rich by driving a car that they cannot afford. Some Texans call that “Big Hat, Not Cattle.”
Drive affordable cars and grow your wealth. Vehicles typically lose value — they are depreciating assets. Depreciating assets are never a good investment.
Budget friend vehicles can be found. Resist discouragement!
The Most Reliable And Affordable Vehicles
- Toyota Corolla
- Honda Civic
- Toyota Camry
- Suburu Outback
- Honda Accord
- Honda Odyssey
- Honda CRV
If you’re upset because there are no American-made vehicles take heart! Here’s my honorable mention:
Ford Fusion models from 2012 and 2013 are solid autos.
I dare you to profit!