CarGurus names ‘Used Car of the Year’
If you’re looking for a used car, CarGurus has just the vehicle for you — and just in time.
The 10th-generation Honda Accord came out on top in the online automotive shopping platform’s 2024 Best Used Car Awards, earning the title of Used Car of the Year as judged by CarGurus’ panel of reviewers.
CarGurus said the reviewers referenced an expansive set of pricing and availability data, consumer trends, and experience test driving more than 1,000 cars in identifying the best used cars in 10 categories and the Used Car of the Year.
CarGurus said the awards are timed to allow shoppers to prepare for what the company’s research has determined to be the best time to buy a used car in 2024.
Its analysis of national weekly average price and inventory data over the past seven years — accounting for pre- and post-COVID market shifts — showed the average used car price during the week of Feb. 12 to be 2.8% less than the average week, with more than 6% more listings.
Based on the current average used-car listing price of $28,731, CarGurus said, consumers have the potential to save about $800 on a purchase during that week.
“With many shoppers feeling the pinch of higher interest rates and new-car prices remaining 30% above pre-pandemic levels, all eyes will be on used cars as a more cost-effective alternative to finding a great deal this winter,” CarGurus deputy editor Matt Smith said in a news release. “Now in its sixth year, the CarGurus Best Used Car Awards aim to help consumers pinpoint their ideal car match with added confidence.”
Smith said the Accord, which was also named the best city car, is “a fantastic all-around vehicle. Few vehicles combine the Accord’s impressive performance and efficiency with its level of practicality, build quality and safety.”
Other category winners include:
Best midsize crossover/SUV: Hyundai Santa Fe (fourth generation).
Best large pickup truck: Ford F-150 (14th generation).
Best luxury sedan: Audi A4 (fifth generation).
Best family car: Kia Telluride (first generation).
Best sports car: Porsche 911 (992 Series, eighth generation).
Small crossover/SUV: Toyota RAV4 Hybrid (fifth generation).
Large SUV: Ford Expedition (fourth generation)
Luxury crossover/SUV: Mercedes-Benz GLS-Class (third generation).
Small pickup truck: Honda Ridgeline (second generation).