Consumer Reports Releases Top Used Car Rankings

As car ownership remains a high priority for Americans, with 91.7% of households owning at least one vehicle, the market is shifting towards used cars due to high new car prices averaging nearly $50,000. Reports indicate that used car prices have decreased in 2024, presenting an excellent value for those struggling with debt, as recommended by financial expert Dave Ramsey. Consumer Reports has recently released reliability ratings and 'top picks' for used vehicles, highlighting brands like Lexus and Toyota as leaders in reliability. The trend towards used cars is further supported by a significant increase in consumers considering both new and used options, rising from 55% to 68% over the last two years. Midsized SUVs like the 2021 Honda Pilot are also noted for their value, space, and affordability, making them attractive options for families. Overall, the used car market is seen as a practical alternative for buyers facing financial constraints.