Finding economical options in the car market can be difficult. It’s difficult to weigh costs up front against long-term ownership, maintenance bills, and retained value. Luckily, MotorTrend and IntelliChoice came up with the 2022 Best Value of the Year Awards to help you find the best deals on the market.
IntelliChoice’s Best Value of the Year Awards
Founded in 1986, IntelliChoice updates vehicle data monthly to determine cost of ownership. Factors such as incentive programs, car discounts, and insurance and fuel costs are taken into account.
IntelliChoice adds that to the overall market analysis to arrive at the best value options. The best value car brands and vehicles are determined on the basis of a five-year cost of ownership. IntelliChoice collected data on nearly 2,500 vehicles for the 2022 awards.
According to MotorTrend, there are three categories within the awards: highest retained value, best value and lowest cost of ownership. Each category has two winners, a popular and premium brand.
Highest Retained Value Awards 2022
The car brands that receive this designation maintain the best value during the five-year analysis. For 2022 is the winner of the popular brand Jeep and the winner of the premium brand Porsche. Jeep takes Toyota’s popular title for 2022 as one of the cheapest car brands.
Jeep earned IntelliChoice’s best overall award for popular vehicles with the Wrangler/Wrangler Unlimited. Overall, Jeep won three IntelliChoice awards for 2022. The Jeep Wrangler won Best Compact Utility Value, Jeep Wrangler Unlimited won Best Medium Utility Value, and Jeep Grand Cherokee won Best Premium Medium Utility Value.
Porsche won the prize for best luxury car with the Porsche 718 Cayman GT4/Spyder. This is not such a big surprise. Kelley Blue Book named Porsche the luxury brand with the best resale value in 2021. Lower overall production compared to Toyota and Honda means fewer Porsches on the road. However, those models retain their value over five years.
2022 Best Value Awards
Jeep shines again with IntelliChoice’s best value awards, in the popular awards category. Jeep beats Toyota again. With the most popular car with the best overall value, it’s no surprise that Jeep takes this award.
In the premium category, IntelliChoice lists Lincoln as the best value. This is also a new winner – as Lexus won the title in 2021. No Lincoln model won individual awards before 2022, but IntelliChoice chose the car brand as the best prize due to its cost over time.
Lincoln models cost less to own than many luxury rivals. Consumer Reports found that Lincoln’s average annual cost of ownership is $159 for the first three years. After 10 years, the annual average cost of ownership is $290. This makes the Lincoln Navigator one of the longest-lived SUVs on the market.
2022 Lowest Cost of Ownership Awards
This award is given to brands whose vehicles have a lower than expected cost of ownership. The popular category winner for 2022 is Subaru. RepairPal data gives Subaru an above-average confidence score (3.5 out of 5 stars). The average annual repair cost is $617, which is below the $652 average. Data shows that the average Subaru visits a repair shop 0.3 times a year, also below average. The most reliable model in the brand’s lineup is the Crosstrek.
The price contrasts with Consumer Reports, who named Subaru one of the most expensive non-luxury brands to own. However, the same group says new Subaru models are among the most reliable on the market.
In the premium category, Acura gets the lowest cost of ownership award. Neither Acura nor Subaru have won individual awards from IntelliChoice, but Acura has a reputation for reliability and longevity.
RepairPal gives Acura 4 out of 5 stars for reliability – second only to Honda, the parent car brand. In addition, a iSeeCars study shows how well-used Acuras perform. The car brand won Best Used Luxury Small SUV with the Acura RDX and placed second in three used car categories: Best Luxury Midsize SUV and Luxury Crossover SUV with the Acura MDX and Best Luxury Large Car with the Acura RLX.
Which car brand is the best for the money?
Looking at all the awards, it’s hard to argue with Jeep as the best car brand for the money. IntelliChoice’s wins in the highest retained value and best value give it a competitive edge.
A close second is Ford. IntelliChoice awarded the car brand five awards for the best total value of the year: delivery van (Transit Connect Cargo Van), medium pickup (Maverick), minivan (Transit Connect Passenger Wagon), premium full-size utility (Expedition) and sport/ coupe (Mustang). Those many wins make it another car brand with the best value.
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