35 American Cars To Buy When the Auto Industry Is Back
The coronavirus pandemic has laid waste to the global economy, and the American auto industry has not been immune. According to S&P Global Intelligence, global light-vehicle sales are expected to fall 22% in 2020 from 2019 levels.
In response to this sudden and dramatic drop in demand, automakers have begun rolling out significant deals to entice consumers to buy. GM, for example, is offering deals such as 0% financing for 84 months for well-qualified buyers on some models.
However, even with those types of incentives, demand is likely to remain depressed, at least over the short term, as more than 30 million Americans filed new claims for unemployment in just six weeks as of May 1, 2020.
If you’re looking for a vehicle in the midst of this crisis, you’re likely looking for something that is both well regarded and affordable, with a low cost to maintain. To help with this quest, GOBankingRates surveyed popular American vehicles in terms of affordability. Using data from U.S. News, GOBankingRates filtered out foreign-made vehicles and ranked the remaining American vehicles from the lowest to the highest five-year true cost to own.
Since cost and reliability are two of the most important factors in a car, it might be a good time to start taking a look at what kind of deals you can get for the cars on this list.
Last updated: Aug. 7, 2020
Chevrolet Sonic
Type of car: Small
2020 style of vehicle: LS 4dr Sedan (1.4L 4cyl Turbo 6A)
5-year true cost to own: $38,530
Chevrolet Malibu
Type of car: Midsize
2020 style of vehicle: L 4dr Sedan (1.5L 4cyl Turbo CVT)
5-year true cost to own: $41,499
Chevrolet Sonic
Type of car: Hatchback
2020 style of vehicle: LT 4dr Hatchback (1.4L 4cyl Turbo 6A)
5-year true cost to own: $41,606
Ford Fusion
Type of car: Midsize
2020 style of vehicle: S 4dr Sedan (2.5L 4cyl 6A)
5-year true cost to own: $41,702
Ford Fusion Hybrid
Type of car: Hybrid/electric
2020 style of vehicle: SE 4dr Sedan (2.0L 4cyl gas/electric hybrid CVT)
5-year true cost to own: $41,882
Chevrolet Colorado
Type of car: Compact pickup truck
2020 style of vehicle: 4dr Extended Cab SB (2.5L 4cyl 6A)
5-year true cost to own: $42,136
Chevrolet Equinox
Type of car: Compact SUV
2020 style of vehicle: L 4dr SUV (1.5L 4cyl Turbo 6A)
5-year true cost to own: $43,059
GMC Canyon
Type of car: Compact pickup truck
2020 style of vehicle: 4dr Crew Cab SB (2.5L 4cyl 6A)
5-year true cost to own: $43,539
Dodge Journey
Type of car: Midsize SUV
2020 style of vehicle: SE Value 4dr SUV (2.4L 4cyl 4A)
5-year true cost to own: $44,677
Jeep Cherokee
Type of car: Compact SUV
2020 style of vehicle: Latitude 4dr SUV (2.4L 4cyl 9A)
5-year true cost to own: $45,994
Jeep Compass
Type of car: Compact SUV
2020 style of vehicle: Latitude 4dr SUV (2.4L 4cyl 9A)
5-year true cost to own: $46,168
Dodge Durango
Type of car: Midsize SUV
2020 style of vehicle: SXT 4dr SUV (3.6L 6cyl 8A)
5-year true cost to own: $46,886
Chevrolet Camaro
Type of car: Sports
2020 style of vehicle: 1LS 2dr Coupe (2.0L 4cyl Turbo 6M)
5-year true cost to own: $47,045
GMC Terrain
Type of car: Compact SUV
2020 style of vehicle: SL 4dr SUV (1.5L 4cyl Turbo 9A)
5-year true cost to own: $47,296
Ford Mustang
Type of car: Sports
2020 style of vehicle: EcoBoost 2dr Coupe (2.3L 4cyl Turbo 6M)
5-year true cost to own: $47,923
Chevrolet Silverado 1500
Type of car: Full-size pickup truck
2020 style of vehicle: Work Truck 2dr Regular Cab LB (4.3L 6cyl 6A)
5-year true cost to own: $48,811
Dodge Charger
Type of car: Large
2020 style of vehicle: SXT 4dr Sedan (3.6L 6cyl 8A0
5-year true cost to own: $49,530
Ford Edge
Type of car: Midsize SUV
2020 style of vehicle: SE 4dr SUV (2.0L 4cyl Turbo 8A)
5-year true cost to own: $50,191
Dodge Grand Caravan
Type of car: Minivan
2020 style of vehicle: SE 4dr Minivan (3.6L 6cyl 6A)
5-year true cost to own: $50,540
GMC Sierra 1500
Type of car: Full-size pickup truck
2020 style of vehicle: 2dr Regular Cab LB (4.3L 6cyl 6A)
5-year true cost to own: $51,553
Pictured: 2020 GMC Sierra SLT
Chevrolet Impala
Type of car: Large
2020 style of vehicle: LT 4dr Sedan (3.6L 6cyl 6A)
5-year true cost to own: $52,444
GMC Acadia
Type of car: Midsize SUV
2020 style of vehicle: SL 4dr SUV (2.5L 4cyl 9A)
5-year true cost to own: $52,689
Chevrolet Traverse
Type of car: Midsize SUV
2020 style of vehicle: LS 4dr SUV (3.6L 6cyl 9A)
5-year true cost to own: $52,791
Ford F-150
Type of car: Full-size pickup truck
2020 style of vehicle: XL 2dr Regular Cab 4WD 6.5 ft. SB (3.3L 6cyl 6A)
5-year true cost to own: $54,402
Jeep Grand Cherokee
Type of car: Midsize SUV
2020 style of vehicle: Laredo 4dr SUV (3.6L 6cyl 8A)
5-year true cost to own: $54,972
Chrysler Pacifica
Type of car: Minivan
2020 style of vehicle: Touring 4dr Minivan (3.6L 6cyl 9A)
5-year true cost to own: $57,088
Dodge Challenger
Type of car: Sports
2020 style of vehicle: R/T 2dr Coupe (5.7L 8cyl 6M)
5-year true cost to own: $57,797
Ford Escape
Type of car: Compact SUV
2020 style of vehicle: Titanium 4dr SUV AWD (2.0L 4cyl Turbo 8A)
5-year true cost to own: $57,815
Chevrolet Tahoe
Type of car: Large SUV
2020 style of vehicle: LS 4dr SUV (5.3L 8cyl 6A)
5-year true cost to own: $59,323
Buick Enclave
Type of car: Midsize SUV
2020 style of vehicle: Preferred 4dr SUV (3.6L 6cyl 9A)
5-year true cost to own: $59,562
Chrysler 300
Type of car: Large
2020 style of vehicle: S 4dr Sedan (3.6L 6cyl 8A)
5-year true cost to own: $61,790
GMC Yukon
Type of car: Large SUV
2020 style of vehicle: SLE 4dr SUV (5.3L 8cyl 6A)
5-year true cost to own: $63,868
Pictured: 2021 GMC Yukon XL Denali
Chevrolet Suburban
Type of car: Large SUV
2020 style of vehicle: LS 4dr SUV (5.3L 8cyl 6A)
5-year true cost to own: $65,795
Ford Explorer
Type of car: Midsize SUV
2020 style of vehicle: Limited 4dr SUV (2.3L 4cyl Turbo 10A)
5-year true cost to own: $67,291
Ford Expedition
Type of car: Large SUV
2020 style of vehicle: XLT 4dr SUV (3.5L 6cyl Turbo 10A)
5-year true cost to own: $74,903
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Methodology: GOBankingRates, in order to find the best American cars to buy when the auto industry is back, referenced U.S. News: Best Car Rankings for 2020 report. Vehicle make had to be from an American company in order to qualify. From this report, GOBankingRates looked at all the ranking American brand cars across 11 separate categories. GOBankingRates used Edmunds Inc.’s True Cost to Own calculator to find the true five-year cost to own each 2020 model in its most basic style where data was available. GOBankingRates kept the location for the calculations constant, using the ZIP code 90245 (El Segundo, California). The Edmunds Inc. True Cost to Own calculations use the following assumptions:
You will drive 15,000 miles per year
You are financing the vehicle using traditional financing, not lease financing
You have an above-average credit rating for the purpose of determining your finance rate
You are making a 10% down payment on the vehicle at purchase
Your loan term is five years, or 60 months
All data was collected and is up to date as of May 7, 2020.
This article originally appeared on GOBankingRates.com: 35 American Cars To Buy When the Auto Industry Is Back