If you’re looking about to trade in your full-sized sedan, wagon, or — good luck — SUV, for an inexpensive new compact like you did back in college, well, you better have good credit. That, or more cash to hunker down.
A study by J.D. Power and Associates has discovered that there are only 10 car models in the U.S. market that have an average transaction price of less than $15,000. They include:
- Chevrolet Aveo $12,258
- Chevrolet Cobalt $13,888
- Hyundai Accent $12,883
- Kia Rio $13,609
- Kia Spectra $14,848
- Mazda B-Series $14,391
- Nissan Versa $14,946
- Suzuki Forenza $14,816
- Suzuki Reno $13,980
- Toyota Yaris $14,137
During the same period the year before, there were 15 models available.
Our take? So what happened? Consumer demand, that’s what happened. Cheap cars don’t sell so the automakers had to jack up the price while adding features such as remote locks. Add the rising cost of materials and government regulations and you suddenly see compacts becoming this generation’s mid-sized sedan.
via Winding Road
I don’t think it’s the cost it’t the safety
- Todd Charske
Why wouldnt you save the money and still nail down a deal with a recent model year program car. New is a waste of money. Thats the problem, you dont have to have great credit you just have to buy smart, find something that hasnt hit the nada book and use like invoice and bury that negative equity form your suv or truck and maybe credit wouldnt be such an issue if you want to down size and save some money.
iNTERESTING PEOPLE WANT TO PAY MORE? Really though some aren’t put together very well.
- Todd Charske
Once the Chinese and Indians come into the market, expect there to be at least a few sub $10k offerings.