Consumers form strong opinions about auto manufacturers
Posted on Wednesday, February 5, 2014 at 9:10:02 AM
When it comes to choosing the right auto financing and vehicle maker, consumers have strong opinions. According to a recent industry report, several manufacturers made out a lot better than their competitors when it comes to buyer sentiment.
Consumer Reports' recent Car-Brand Perception Survey found that a few makes - Toyota, Ford, Honda and Chevrolet, in particular - are considered some of the best in the minds of consumers. These rankings are based upon how people view these brands, including quality, design, style, economy and technology. While the old favorites continued to control the top of the rankings, several makers have moved up the list.
For example, Consumer Reports noted that Tesla and Subaru have made positive jumps, thanks in part to key awards and a domination of the headlines. The electric-car maker was especially strong, with an increase of 47 points in the rankings year-over-year.
However, this may not reflect the most affordable option. According to Kelley Blue Book, Mazda was named the most cost-effective vehicle for five-year ownership. The reasons why? This manufacturer typically provides a fair purchase price, great fuel economy, low insurance costs and strong residual values.
These are often the key factors that contribute to either high or low long-term costs, which is something all buyers interested in affordable auto financing should care about.