What do these five cars have in common? They stink for one reason or another. Transportation is the second biggest purchase most people will ever make, so it’s important to get it right. With the automotive market at all-time highs, it wouldn’t be a good time to have buyers remorse. Here are five cars to avoid in 2022, and why you should steer clear of them.
Right now, the socially-distancing Chevrolet Bolt is up a shocking 42% since a year ago. Why do so many people want to buy a rolling fire hazard? Dealerships aren’t even allowed to sell Bolts until they work through the backlog of recall fixes. The stop-sale may come to an end soon, but does that mean you should buy one? With the lowest charging speeds on the market and a damaged reputation, don’t buy a Bolt. Plus, it’s likely to be discontinued! GM doesn’t mention the Bolt in their future roadmaps for electrification. If you really want an affordable electric vehicle from GM, CEO Mary Barra is touting the Chevrolet Equinox EV just around the corner. Do you know how long it takes to charge a Chevy Bolt to full at a public fast charger like Electrify America? An hour and 20 minutes. So many EVs on the market today charge up in half that time. Please don’t buy a Bolt!
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The world needs more affordable cars, but the Mitsubishi Mirage has appreciated way too much to justify the purchase. This sub-compact car has appreciated over 52% on the used vehicle market since 2020. The average used Mirage sells for $14,404, which is amazing considering a new one costs $14,600. The Mirage has some of the worst performance and comfort ratings in existence. It’s noted for ‘seats that feel more like cloth-covered chairs’ as Edmunds put it. Car and Driver gave in 2.5 stars out of TEN. It’s always best to buy and hold, rather than taking a big hit on depreciation after driving off the lot. Is the Mitsubishi Mirage a car you’d want to keep for a decade? Probably not.
Now is not the time to buy a van. Full-sized vans have appreciated by 55% this past year, and minivans have jumped 42%. While the Ford Transit starts at an MSRP around $35,000, most dealers are asking over $48,000 for the base trim. The Transit is a solid van with great utility, but there’s no way its long term value will reflect the current price. That could be said about most cars on the market now, but 55% appreciation is through the roof. You’re buying a van, not a house.
Hyundai Santa Fe
Sometimes, a vehicle is too popular. If you are determined to get yourself into a Hyundai Santa Fe in 2022, expect it to come at a substantial cost. Year-over-year, prices for the Santa Fe are up 48%! On top of unattractive prices, the Santa Fe is involved in a major recall affecting half a million cars. While most consumers are happy with their Hyundai SUVs, Consumer Reports recently stopped recommending the Santa Fe due to poor reliability. Once the chip shortage ends, resale values will drop. Don’t get stuck with a vehicle you paid 48% appreciation for!
Anything from Carvana or Vroom
No pre-purchase inspection? Not okay! Want to buy a used car with fast food still in the back seat? Want to make sure you DON’T get your title anytime soon? I don’t think you do. Selling to Carvana or Vroom might make you a pretty penny, but buying from Carvana could be a disaster. The ongoing Carvana lawsuit makes for an uncertain future for Carvana. It’s best to stay out of that mess and take your money elsewhere, at least for the time being. In today’s world, a pre-purchase inspection is a must-have for any used vehicle. Sure, there may be a 7-day return period, but it’s a huge pain to undo a big-money transaction like buying a car. Don’t do it!
These are cars to avoid in 2022 if your goal is to make a purchase you won’t regret. What about the five cars to buy in 2022? Here’s our list of the top buys in the market right now.