Certified Pre-Owned Vehicles With the Best Value in 2024
The seventh annual Vincentric Best Certified Pre-Owned (CPO) Value in Canada Awards were announced today, showing once again how the used-car market is changing with supply chain disruptions and new vehicle inventory issues being mostly a thing of the past.
The company conducted a statistical analysis to reveal which vehicles had lower than expected ownership costs given their market segment and price. It looked at approximately 15,000 vehicle configurations using eight cost factors: depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs.
- Also: How to Properly Test Drive a Used Vehicle
- Also: 5- to 10-Year-Old Vehicles Ranked by Reliability According to Consumer Reports
For 2024, Mazda is the car brand that offers the best value for certified pre-owned models, according to Vincentric, while Volvo ranks first in luxury cars. On the SUV and crossover side, Ford ranks as the top mainstream brand, while Jaguar leads the luxury brands. Ford also managed to take back from Jeep the award for the best truck and 4x4 brand.
“For the third year in a row, we’ve seen a trend of a majority of Best CPO Value in Canada award winners being first-time winners in their segments,” said David Wurster, Vincentric President. “This year saw fourteen first-time winners out of a total of twenty-five vehicle segments. This trend goes to show that Canadian shoppers who are in the market for a CPO vehicle have a wide variety of great-value models to choose from.
To see Vincentric’s full list of best certified pre-owned vehicles in Canada for 2024, click here.
Now, since reliability is more often than not a top priority when it comes to buying a used vehicle, make sure you also check out U.S. magazine Consumer Reports’ first-ever brand ranking for 5- to 10-year-old used vehicles, which was published recently.
