Finding the perfect car that offers exceptional value has become increasingly important for savvy buyers. With a wide array of options ranging from compact cars to luxury sedans, it’s essential to consider factors such as price, features, reliability, fuel efficiency, and resale value when searching for your next vehicle. In this article, we have compiled a list of 2023’s best cars for their value across multiple categories, ensuring you find the perfect match for your needs and budget without compromising on quality or performance.
Factors To Consider
When evaluating a car’s value, it is crucial to consider several factors to ensure you make an informed decision that meets your needs, preferences, and budget. Here are some essential factors to take into account when assessing a car’s value:
- Price: Determine your budget and compare different makes and models within that price range. Keep in mind that lower-priced cars may not always offer the best value, as some may lack essential features or have higher maintenance costs.
- Features: Assess the standard features offered by each vehicle, such as safety equipment, infotainment systems, driver assistance technologies, and comfort amenities. Consider which features are most important to you and prioritize them. A car with more standard features might provide better value, even if it’s slightly more expensive.
- Reliability: A reliable car not only provides peace of mind but also helps reduce long-term ownership costs. Research various models’ reliability ratings and reviews, considering factors like the frequency of repairs, maintenance costs, and the availability of replacement parts.
- Fuel efficiency: With fluctuating fuel prices, it’s essential to consider a car’s fuel efficiency, particularly if you have a long daily commute or plan to use the vehicle for road trips.
- Resale value: A car’s resale value is an often-overlooked factor when considering its overall value. Some cars depreciate faster than others, which affect the overall lifetime cost of the car when it’s time to sell or trade in your car.
By carefully considering these factors, you can evaluate a car’s overall value more accurately and make a well-informed decision that aligns with your preferences, needs, and budget.
ShutterstockBest Value Compact Cars
A compact car is a smaller-sized vehicle that typically falls between the subcompact and midsize categories in terms of size and interior space. Compact cars balance fuel efficiency, practicality, and affordability while still providing a comfortable driving experience. They usually have a smaller footprint, which makes them easier to maneuver and park in crowded urban environments. They often feature smaller engines, which contribute to better fuel economy, and are typically equipped with a front-wheel-drive layout. Due to their size and affordability, compact cars are a popular choice for first-time car buyers, commuters, and those looking for a budget-friendly vehicle with reasonable running costs.
ShutterstockHonda Civic
2023 MSRP: $25,050
The Honda Civic has been a popular choice in the compact car segment for years, thanks to its mix of reliability, fuel efficiency, and a comfortable, spacious interior. It gets an incredible 31 mpg in the city and 38 mpg on the highway, contributing to major savings at the pump.
The car offers a range of safety features, excellent handling, and an attractive design. Its reputation for being dependable means it has a low likelihood of major mechanical issues. Like many Honda vehicles, the Civic retains its value well over time. Hondas tend to maintain a higher resale value compared to other brands in their respective segments, which is ideal for buyers who prefer to trade-in their cars every few years or so.
Source: HondaToyota Corolla
2023 MSRP: $21,550
Another top pick in the compact car segment is the Toyota Corolla, which is known for its reliability, durability, and fuel efficiency. In fact, the LE trim level, which is the most affordable, 32/41 mpg in the city and highway respectively.
The Corolla offers a comfortable ride, advanced safety features, and a user-friendly infotainment system. It comes standard with Toyota’s Safety Sense, a suite of advanced safety and driver assistance technologies, such as pre-collision warning, lane departure alert, and adaptive cruise control. Overall, the affordable price and low long-term ownership costs make it an excellent high value choice.
Source: ToyotaMazda3
2023 MSRP: $22,550
The Mazda3 is a stylish compact car that offers a premium feel that that rivals some luxury vehicles, but at an affordable price. The car’s interior boasts high-quality materials and a well-designed layout, contributing to a comfortable experience.
The Mazda3’s impressive handling and responsive steering – thanks to suspension that is tuned for a sporty feel without sacrificing ride comfort – make it an attractive option for those who value performance and refinement. Plus, its award-winning, advanced safety features and fuel efficiency (28/37 mpg in the city/highway) due to advanced Skyactiv technology make it an attractive high value compact car.
Source: MazdaBest Value Sedans
Midsize sedans are a type of four-door car that fall between compact and full-size sedans in regards to size, interior space, and overall dimensions. These sedans are designed to offer a comfortable and spacious interior for up to five passengers, while also providing a balance of fuel efficiency, performance, and practicality. They often feature larger engines than compact cars, which can provide more power, but still maintain reasonable fuel efficiency. The trunk space in midsize sedans is usually more generous than that of compact cars, making them a popular choice for families or individuals who require additional cargo capacity.
ShutterstockToyota Camry
2023 MSRP: $26,220
The Toyota Camry is a long-standing favorite in the midsize sedan segment. It has consistently received high reliability ratings since its introduction to the market in the 80s, which means it requires fewer repairs and lasts longer than many of its competitors, contributing to lower long-term ownership costs.
The Camry offers a comfortable ride, spacious interior, and excellent fuel efficiency at 28 city and 39 highway mpg. Known for its reliability and durability, this vehicle comes equipped with an array of standard safety features. Every Camry now comes standard with the Toyota Safety Sense suite, which includes pre-collision system with pedestrian detection, lane departure alert with steering assist, and adaptive cruise control, making it a great value choice for families.
Honda Accord
2023 MSRP: $27,295
The Honda Accord is another top pick in the midsize sedan segment, offering a well-rounded package of performance, comfort, and practicality. It has a spacious cabin, agile handling, and impressive fuel efficiency at 29/37 mpg in the city and on the highway respectively. Honda’s are also known for their strong resale value, meaning that you’re likely to get a good price when you go to sell or trade in your Accord.
The Accord also features advanced safety and driver assistance technologies, adding to its value proposition. It comes standard with the Honda Sensing Suite, which includes collision mitigation braking system, road departure mitigation system, adaptive cruise control, and lane-keeping assist system.
Source: HondaHyundai Sonata
2023 MSRP: $25,250
The Hyundai Sonata is a stylish and feature-packed midsize sedan that offers excellent value for the price. It boasts a comfortable, spacious interior, a smooth ride, and user-friendly technology. The overall design gives the vehicle a premium feel, contributing to its perceived value, while remaining competitive on price in its segment. The Sonata also comes with an extensive list of standard safety features, increasing driver confidence and safety on the road.
Hyundai offers a long warranty for their vehicles, including the Sonata, which also adds value. The warranty coverage includes a 5-year/60,000-mile new vehicle limited warranty and a 10-year/100,000-mile powertrain limited warranty. This comprehensive warranty coverage provides added peace of mind and protection for buyers.
Source: HyundaiBest Value Hybrid and Fully Electric Cars
Hybrid and fully electric cars are both types of vehicles that use alternative power sources to traditional internal combustion engine (ICE) vehicles. They are designed to reduce emissions and improve fuel efficiency compared to conventional gasoline or diesel-powered vehicles.
The main advantages of hybrid and fully electric cars include lower emissions, better fuel efficiency, and reduced dependence on fossil fuels. However, there are also some trade-offs, such as the higher initial cost of electric vehicles, limited driving range for some models, and the availability of charging infrastructure, which are essential factors to consider when choosing between a hybrid or fully electric car.
ShutterstockBest Hybrid: Toyota Prius
2023 MSRP: $27,450
The Toyota Prius is one of the most well-known hybrid vehicles on the market and has consistently delivered exceptional fuel efficiency, reliability, and practicality. It boasts an outstanding combined city-highway fuel efficiency of 57 mpg, which is one of the primary reasons people choose this particular hybrid vehicle.
The Prius offers a versatile hatchback design, providing ample cargo space and two rows of seats. This practicality makes it suitable for a wide range of uses, from daily commuting to family road trips. Overall, the Prius offers a comfortable ride and a range of standard safety features, making it a top value-laden choice.
Source: ToyotaBest Fully Electric: Chevrolet Bolt EV
2023 MSRP: $26,500
The Chevrolet Bolt is a well-rounded electric vehicle known for its practicality and affordability. It offers a spacious cabin, ample cargo space, and an impressive EPA-estimated range of 259 miles. This makes it practical for daily driving and reduces the range anxiety commonly associated with fully electric vehicles.
The Bolt comes equipped with a wide variety of standard features, including safety-related ones such as the rearview camera, rear cross-traffic alert, and blind-spot monitoring, and a user-friendly infotainment system. Drivers also often note the car’s peppy acceleration and responsive handling, making it a fun EV to drive. It’s also currently eligible for the Clean Vehicle Federal Tax Credit of up to $7,500, so now is a great time to consider this EV.
Source: Chevrolet
