The Automobile Protection Association (APA) and Protégéz-Vous released the 2014 annual car rating guide on Tuesday.
It found 2014 vehicles are safer and they use less fuel. It says this could be why, for the first time ever in Quebec sales of SUVs surpass compact cars.
“The fuel economy guides are so optimistic that you figure you could be spending the same amount on a new SUV as you are on your current car, but that’s not the case, SUVs are usually about 20 percent more,” George Iny, APA director said.
The small car with the best rating is the Kia Rio. Top compact cars are the Honda Civic, Kia Forte and the Subaru, Impreza.
Used car lemons include the Mercedes200, the Mazdaspeed and the Mini Cooper. The full reviews are available here.
“Fortunately it’s not a very long list, it used to be much longer, generally vehicles are improving,” Iny said.
But the APA is issuing a warning on extra long car loans that could stretch out to 96 months. Iny says interests as low as 0 percent for 7 years could be misleading because if you want to trade-in your vehicle before the end of the term, you’ll owe the bank more than the value of the car, which will be added to your next vehicle.
The APA says the cheapest option is to keep your car until well after car payments. It says consumers who want to replace their car often should lease for a term between 36 and 60 months.