Some of America's most popular cars have become some of the most affordable cars on the market today. It's rising, but some are higher than others. Let's take a look at the top 3 affordable cars according to a report done by iSeeCars. Let's see how tall the model got.
What does the iSeeCars report mean?
The consumer price index hit a 13-year high in May, with prices up 5% year-on-year. However, about a third of that increase was solely due to used car prices. https://t.co/6gTp4D3Dd7
Buying a car is not easy when there is a problem with the supply chain. With used car prices rising but household income levels not, some vehicles are not affordable for many. To determine which used cars are currently the most affordable, iSeeCars collected data showing median household income and compared it to the ideal family income for buying a car.
This site takes an idealized family income and gives a value of 100 to represent household income that meets the idealized figure. By analyzing car sales, especially financial loans to finance the purchase, you can determine where the income for each car on your list is for your family.
If the calculation is below the baseline income figure, your household income is below what you should be able to afford to buy a car. If it's above the ideal figure, it means the family can afford a car. It shows how much the price has risen by the month.
What are the most affordable used cars today?
2006 Toyota Avalon Limited | Toyota Motor Sales USA, Inc.
The top three most affordable cars on the list compiled by iSeeCars are the Toyota Avalon, Chevrolet Traverse and Volvo S60. The Toyota Avalon offers brand reliability, but is the most expensive to get today. That's 37.6% above the baseline affordability level, giving him $13,181 in price gains over the past three years. Buying one currently on the market would cost about $35,137.
The second most affordable model is the Chevrolet Traverse, up $12,416 over the same three-year period. Because of the popularity of SUVs, it is easy to think that there is a large inventory of used cars, but because the supply of new cars is declining, sales of used cars are brisk. That's currently 36.1% above the affordable level for him, at around $34,751 on the used market if you can find a decent one.
The Volvo S60 is the third most affordable car on the used market today. Compact luxury sedans are a great choice to buy, but unfortunately they aren't as cheap as we'd like. up $14,708 from
Affordable Used Car Choices to Consider
If you're looking for an affordable alternative to the Toyota Avalon, there are several models that come to mind. The first is the Chrysler 300 sedan, just 6.2% above the affordable level. Available for around $27,404 as of August 2022. If you stick to the Toyota brand, you can also opt for the Camry, albeit a slightly smaller car. It's just 7.3% above the affordable level, and you can buy it pre-owned for around $27,404.
The Chevrolet Traverse is a medium-sized three-row SUV, so the Volkswagen Tiguan in a three-passenger configuration is a perfect fit. VW's offering is just 6.6% above the affordable level, starting at around $27,238. That's only a few thousand cheaper than the starting price of the new model. If you want to spend a little more money, the Nissan Pathfinder is also an option. He is 11% above reasonable levels for consumers and can be purchased for $28,358.
Since the Volvo S60 is a compact luxury sedan, there are some affordable alternatives to it. The best one is the Acura ILX, which is just 8.3% above the affordable level, at $27,655.
If you don't mind a little more size and price, you can opt for the midsize Honda Accord. This is 12.9% above the affordable level of homes. Using one of these will cost you approximately $28,847.
The Toyota Avalon, Chevrolet Traverse, and Volvo S60 are great cars to buy, but their prices are so high that you can't buy them right now. Luckily, you can find some alternatives that are close to your original choice but more affordable.
