The study covers 2020 models within the first three years of ownership. These vehicles were manufactured before the pandemic, before supply chain issues, labor shortages, and plant shutdowns may have introduced problems to assembly lines.
J.D. Power noted that 2022 vehicles, manufactured at the height of the pandemic and the months following, may show more problems than older models when they are assessed next year.
The study also found that luxury vehicles tend to have more problems than other cars, averaging 205 problems per 100 vehicles for 2020 models. The reason is that luxury manufacturers often roll out new tech first. By the time technology reaches mainstream cars, any bugs have likely been fixed.
Whether you’re seeking a luxury vehicle or a mainstream brand, you can often save money by buying a car that’s just three years old, while minimizing the problems you might face with older vehicles approaching 100,000 miles or more.
New cars depreciate in value by 40-50% in the first three years of ownership, according to RealCarTips.com. You may even be able to afford the luxury vehicle of your dreams if you are willing to buy a pre-owned model.
Keep in mind that loans for used cars often have higher interest rates if you need to finance the purchase. If you can, save up money to pay cash, or at least pay a larger down payment, to reduce loan costs.
RealCarTips.com also recommended purchasing an extended warranty for a three-year-old vehicle. Most warranties cost between $1,000 and $2,000 according to the website and can save you thousands if you keep the car for several years.
Finally, you can save money by purchasing a used vehicle that has high dependability ratings, further reducing the odds that you’ll need to pay for costly repairs.
With this in mind, let’s look at some cars you might want to avoid if you are buying a used vehicle in 2024, based on the J.D. Power survey and the number of problems reported with these brands.
1. Land Rover
The Land Rover brand has a poor reputation for reliability, with 273 problems reported for every 100 vehicles, according to J.D. Power. Consumer Reports also ranked Land Rover as the 17th out of 17 luxury car brands and the last (32nd out of 32) amongst all car brands that year.
