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Honda, Toyota lead the way as best used vehicles

Posted on Monday, September 16, 2013 at 12:26:47 PM

For buyers using automotive financing, the tough decision often comes down to going new or getting used. Many leading automakers have high-quality options on the road, and Honda and Toyota are currently offering some of the best used vehicles for consumers.

The price difference between these two choices has narrowed over the recent months, making some people choose new options when they otherwise would have preferred the pre-owned route. However, demand is still great, according to the National Automobile Dealers Association.

Jonathan Banks, executive automotive analyst for the NADA Used Car Guider, explained that consumer demand for used car and trucks is increasing, which could be a factor in the rising prices for this segment of automobile. 

Used prices dropped more than 1 percent in August, although the number is still near a historical high. Vehicles as much as eight years old had a mix- and seasonally-adjusted average of $15,113, according to NADA.

In addition, buyers with auto financing might want to choose a Honda, Toyota or Ford. Those three automakers led the pack when it came to the best used vehicles of 2013, Edmunds.com reported. The subcompact, coupe, crossover and minivan categories all belonged to Honda, while Ford offered the best used large truck, with the 2006-2011 F-150.