Everyone knows luxury cars are awfully nice to look at. But at the same time, they typically cost a pretty penny. For instance, according to vehicle valuation firm Kelley Blue Book, the average luxury automobile currently sells for nearly $57,000 and the typical full-size luxury SUV runs right around $83,700.
However, in a classic case of you get what you pay for, several of these same high-end vehicles are considered the most reliable cars on the road, according to a recent study.
"Lexus and Porsche are highly reliable luxury vehicles."
When it comes to overall dependability, the makes Lexus and Porsche are at the top of the heap, based on the latest J.D. Power and Associates 2017 U.S Vehicle Dependability Study. After analyzing more than 30 different makes, the global marketing information services firm determined that these respective nameplates resulted in the fewest repair problems for owners, each earning a score of 110. In this analysis, a lower score is preferable to a higher one, indicating that the brand is more reliable when stacked up against competitors.
Lexus and Porsche weren't the only luxury brands that ranked favorably. Mercedes-Benz had a vehicle dependability ranking of 131, BMW 139, and Jaguar 144, while the industry average is 156.
Several conventional models score well
So, does this mean that in order to have a reliable car, buyers have to break the bank? Not necessarily. Several conventional models fare almost equally well. For example, J.D. Power found that among Toyotas, owners reported 123 issues for every 100 automobiles in the typical year, well south of the 156 industry average. In the same ball park was Buick at 126 and Hyundai at 133.
Dave Sargent, vice president of global automotive at J.D. Power, noted this is good news for budget-minded buyers.
"While many expensive and niche vehicles do have excellent quality, the fact is that most consumers are shopping in the high-volume mainstream segments," Sargent explained. "The good news is that consumers don't have to spend a lot of money to get a very dependable vehicle."
Average repair cost in 2016: $400
When your car is in the shop all the time, it makes ownership seem more like a chore than a privilege. Last year, the average repair cost consumers nearly $400, according to CarMD.com. That's up from approximately $387 in 2015. However, much like J.D. Power's findings, several conventional nameplates are highly reliable. Hyundai had the lowest average repair cost in 2016, CarMD.com discovered, setting back owners roughly $318.50. Foreign brands Mazda and Kia also cost owners less than $350 per fix, averaging $334.82 and $338.57 per problem, respectively. Furthermore, in terms of overall repair frequency, Toyota scored most favorably, having the least number of issues for motorists in 2016, with Honda, Nissan, Audi, and Volkswagen rounding out the top five.
Toyota is among the more highly decorated nameplates in the world, a routine recipient of numerous awards from organizations like Kelley Blue Book, Edmunds.com, and the Insurance Institute for Highway Safety. Indeed, in J.D. Power's Vehicle Dependability Study, 10 models received distinctions for their reliability, among them the Lexus ES, Avalon, Cruiser, and Venza.
New-car prices have risen as of late. In April, the typical automobile straight off the showroom floor set back buyers $34,552, according to KBB.COM. That's up approximately $580 compared to the same period last year. Still, cheap reliable cars do exist. Check out KBB.com's website for some examples.
Something you simply can't afford to skimp on is coverage. Comprehensive auto insurance is the ideal policy purchase for motorists, but especially those who are on the road frequently. And like great cars, cheap full coverage auto insurance is available. Speak with an Elephant Auto Insurance professional for assistance.