How much can you really expect to pay for a new car? Hint: It’s more than what’s on the sticker. Before signing on the dotted line, buyers should ask themselves how much value the car will hold over time and how much they will pay for insurance and fuel. IntelliChoice is back to help buyers make smart purchasing decisions and has announced the winners of the 2022 Best Overall Value of the Year (BOVY) awards.
A MotorTrend partner, IntelliChoice has been an industry leader in automotive value analysis for over 35 years. This year, it examined the five-year cost of ownership of nearly 2,500 vehicles down to trim, looking at critical factors such as depreciation, maintenance, insurance, financing, fuel, reimbursements and repair costs. The BOVY awards recognize vehicles that are significantly lower than the expected cost of ownership compared to other vehicles in the same category.
Which cars are the best values? Toyota takes on Honda
Unlike last year, when Toyota and Lexus won 13 out of 25 Best Overall Value awards, this year’s glory is spreading more widely across different brands. That said, the two automakers have still won an impressive six awards together, including a win for the Toyota Corolla Hybrid, which was voted the cheapest compact passenger car. The Honda Accord Hybrid stole the crown from the Toyota Camry Hybrid this year to win in the Passenger Car category, and for the second year in a row, the Genesis G80 2.5T won for luxury passenger car.
An eight-year winning streak in the Performance Car category comes to an end for the Ford Mustang GT Coupé now the Volkswagen Golf R stole the title. In the Premium Performance Car category, the Chevrolet Corvette convertible ahead of the competition.
Which SUVs are the best values? Jeep impresses
Jeep SUVs won three of the most valuable awards this year. The Jeep Wrangler and Wrangler Unlimited won respectively in the Compact and Midsize Utility categories. Meanwhile, the Jeep Grand Cherokee took the crown for the Premium Midsize Utility with the best overall value.
The Hyundai Kona stole the spotlight from the Subaru Crosstrek to become the most affordable Subcompact Utility. At the other end of the size spectrum, the Toyota Highlander Hybrid earned the award in the Full-Size Utility category, while the Ford Expedition won the Premium Full-Size Utilities award. The best value Luxury Utility is the Cadillac Escalade†
Ford Maverick takes the lead: these are the best value trucks
In a stunning upset, the new Ford Maverick lists the Toyota Tacoma as the best value in the smaller truck category. Previously, no vehicle other than the Tacoma has held the title in the past decade. But the Japanese automaker is taking revenge in the Full-Size Pickup category, where the Toyota Tundra CrewMax scores the win.
|2022 IntelliChoice BOVY Winners|
|Brand||BOVY model line||Class|
|Ford||Transit Connect Truck||Truck|
|Toyota||Corolla Hybrid||Compact passenger car|
|Toyota||Tundra CrewMax||Full Size Pickup LD|
|Toyota||Highlander hybrid||Full Size Utility|
|Genesis||G80 2.5T||Luxury passenger car|
|Porsche||718 Cayman GT4/Spyder||Luxury performance car|
|Ford||Independent thinking person||Medium Pickup|
|Jeep||Wrangler Unlimited||Medium utility|
|Ford||Transit Connect passenger car||Van|
|Honda||Accord Hybrid||passenger car|
|Volkswagen||Golf R||Car performance|
|Audi||A3||Premium compact passenger car|
|Lexus||NX 350h||Premium Compact Utility|
|BMW||Z4 30i||Premium Convertible|
|Ford||Expedition*||Premium Full Size Utility|
|Jeep||Grand Cherokee*||Premium Medium Utility|
|Toyota||Avalon Hybrid||Premium passenger car|
|Chevrolet||Corvette Stingray Convertible||Premium performance car|
|BMW||230i Coupe||Premium Sporty/Coupé|
|Lexus||UX||Premium Subcompact Utility|
|*excluding S, ESV, MAX or L models, respectively|
These two vehicles stood above the rest
Drum roll, please: The Jeep Wrangler again wins the award as the best total value of all non-premium vehicles on the market. Among the premium vehicles, the Lexus UX earned the title. Last year its bigger brother, the Lexus NX 300h, won this prize.
Best Overall Value Popular Vehicle: Jeep Wrangler/Wrangler Unlimited
Best Overall Value Premium Vehicle: Lexus UX
Which brands have the best values?
In addition to recognizing individual vehicles, IntelliChoice honors car brands. It recognizes brands for excellence in three areas: value retention, cost of ownership and overall value.
For these awards, IntelliChoice takes a sales weighted average of a brand’s model range. Cost of ownership winners are brands whose vehicles have the lowest total cost of ownership, and value winners have vehicles with significantly lower than expected cost of ownership for their peers. Jeep achieved two brand wins this year, capturing Toyota’s title in the highest value retention and best value categories. Lincoln took the title of best price from Lexus among the premium brands.
Highest retained value
Popular – Jeep
Premium – Porsche
Popular – Jeep
Premium – Lincoln
Lowest Cost of Ownership
Popular – Subaru
Premium – Acura