Yahoo Finance 3 Affordable Car Brands That You Might Regret Buying in 2024
If you’re in the market for a car in 2024, inflation is probably compelling you to shop with cost at the forefront of your mind — but while sticker price counts, it can’t be the only consideration.
“With living costs increasing, many people are looking for relatively inexpensive cars. But be careful — not all affordable car brands are equal, and some might make you regret buying them in 2024, even though their prices are low,” said Todd Bialaszewski, a certified master mechanic with over 15 years of experience and the founder of Junk Car Medics.
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“While some brands might seem like a good deal at first, they could cost you more in the long run because they break down often, need expensive repairs or lose their value quickly. I’ve seen plenty of cars that seemed like a bargain initially but turned out to be a money pit later on,” Bialaszewski said.
Watch out for these brands, which tempt with low prices but often fail to deliver in the long term.
Mitsubishi
Bialaszewski said to be cautious about buying a Mitsubishi.
“They offer a long 10-year/100,000-mile warranty for their engines and transmissions, which sounds great. However, studies show that Mitsubishi cars don’t score very well for reliability overall,” he said. “Cars like the Mirage and Outlander Sport have received poor overall quality and dependability ratings. On top of that, Mitsubishi has few dealerships, so finding a good place to get your car serviced can be hard if something goes wrong.”
Bialaszewski mentioned the sub-$17,000, three-cylinder, 78-horsepower glorified go-kart that is the Mirage, which stands out for all the wrong reasons.
“The barebones Mitsubishi Mirage may get you where you’re going but won’t do much beyond that,” said Robert Walden, mechanic, car enthusiast and founder of Vehicle Freak. “Performance and features feel lacking compared to others in its class. You may quickly want more than what it offers.”
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Nissan
Mitsubishi isn’t the only questionable brand that tempts buyers with attractive prices.
“Another brand that worries me is Nissan, especially some of their more affordable models, like the Versa and Sentra,” Bialaszewski said. “These cars have had a lot of problems with their continuously variable transmissions (CVTs) over the years. Getting those transmissions fixed can be expensive, and having them break down all the time can easily wipe out any money you save by getting a lower price in the first place.”
Like Mitsubishi, Nissan can get you behind the wheel of a brand-new Versa for less than $17,000 — and it even comes with all four cylinders. But you should bring a skeptical eye to the dealership, according to Walden, who agreed with Bialaszewski on both the models he mentioned.
“The Nissan Versa brings road noise that will have ears ringing,” Walden said. “With acceleration resembling cold molasses, thrills are not in its nature. Some owners may outgrow its limitations before long.”
Even slightly pricier models can disappoint in the long run. “The $21,000 Sentra draws eyes with its price, but in my shop, quality in some areas has not always matched what Hondas and Toyotas deliver,” Walden added.
Fiat
Like the Mini models whose stylings they share, Fiats look retro, adorable and unique — but by most accounts, the British brand has the Italian nameplate beat when you get past appearance.
Regarding reliability, RepairPal ranks the Fiat brand a middling 18 out of 32 — but even that tepid showing might be generous. Fiat hasn’t had a good reputation among credible experts and industry publications, with mentions of breakdowns and high ownership costs.
Fiat discontinued the 500 — one of its most popular and longest-running models — in 2019. Good riddance, according to some.
“The Fiat 500 is stylish and cheap, but it doesn’t always work right and costs a lot to fix,” said Blake Shaw, an automotive expert and blog writer at All About Wheels. “Its small interior space and old technology can also be annoying for buyers who want to be happy with their purchase for a long time.”
Fiat resurrected the 500 in 2024 as an electric vehicle — but buyer beware. Car and Driver gives it an uninspired seven out of 10 rating, which is three steps up from the dismal four it gave to the last ICE Fiat 500 model year in 2019.
Stick With the Brands That Earned Their Stellar Reps
For those of you who are concerned with upfront affordability and long-term costs, some brands rose to fame by striking a balance between price and quality. Stick with them.
“Some affordable brands are still known for being reliable and holding their value well, making them a smarter choice if you’re on a budget in 2024,” Bialaszewski said. “Toyota is a great example. Their cars are famous for rarely breaking down and costing little to maintain. Models like the Corolla and RAV4 give you an affordable price along with Toyota’s excellent reputation for reliability. They are worth a good amount when you go to sell them later.”
Bialaszewski also suggested another popular car brand as a good alternative. “Honda is another solid pick, offering a nice variety of vehicles that score highly for safety, fuel efficiency and dependability,” he said. “Popular models like the Civic and CR-V strike a good balance between being affordable to buy while also being affordable to own long term.”
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