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The Best Used Cars

 Zelda Richardson / Flickr
Zelda Richardson / Flickr

It’s a decision that’s nearly as old as the auto business itself — should you buy a new car or a used one? While buying a new car carries an immeasurable degree of cachet for many consumers, buying a used model is typically a better deal. And this is even with used-car prices on the rise — they’ve jumped by around four percent over the last 12 months according to the U.S. Department of Labor’s Consumer Price Index.

Full List: The Best Used Cars

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Still, factory-fresh vehicles carry substantially higher price tags than same-make-and-model used ones and tend to take a larger hit in depreciation over the first few years of ownership. A new car can lose 50 percent or more of its resale value within just three years — that makes a three-year-old model at least half the cost of an average new one, which today is priced at nearly $30,000 according to TrueCar.com, an industry research and forecasting company.

We’ve identified what we feel are currently the industry’s best used cars, based largely on results from the latest J.D. Power & Associates U.S. Vehicle Dependability Study of three-year-old models.

One caveat: Buying any used car involves a measure of risk. Always have a used car under your consideration checked out by a trusted mechanic before signing on the proverbial dotted line to ensure that it’s in top operating condition. Also run its vehicle identification number (VIN) through a title-search service like carfax.com to make sure it hasn’t been previously flood-damaged or wrecked and subsequently salvaged.

Honda Fit

Even as a three-year old model, the subcompact Honda Fit is a perfect car for the times. It performs well, is reliable and gets good fuel economy at 28-city/34-highway. Best of all it’s an inexpensive car that doesn’t feel cheap. Its 1.4-liter four-cylinder engine nets just 109 horsepower, but that’s sufficient to get this small car up to speed, especially if you find one that’s equipped with the standard five-speed manual transmission. A five-speed automatic is also available. The Honda Fit’s handling is sharper than with most small cars, which makes it a good choice for driving enthusiasts as an economical commuter. It’s roomier on the inside than its diminutive exterior might otherwise indicate and its rear-seat folds flat into the floor to create a voluminous cargo hold. A Sport model includes larger wheels and tires (for a slightly smoother ride), steering-wheel paddle shifters and a few extra features, though the base model should suit most buyers.

Scion xB

Remaining current in the generation that debuted for the 2008 model year, the quirky Scion xB remains both boxy and muscular-looking. Then as now, the xB comes adequately powered by a 158 horsepower 2.4-liter four-cylinder engine it originally shared with the Toyota Camry. A five-speed manual was the standard transmission, but we found it a bit too notchy shifting for our tastes; instead look for models that come with the four-speed automatic. While no sports car, the Scion xB delivers athletic handling abilities even a casual motorist can appreciate. You’ll find used xBs generously equipped with standard vehicle stability control, front-side and side-curtain airbags, keyless entry and a premium audio system with full iPod integration. A roomy interior can transport four six-footers in complete comfort, which is why xBs of this generation are often used as taxicabs. With the back seat folded flat its cargo volume rivals many midsize SUVs.

Ford Fusion / Mercury Milan / Lincoln MKZ

This trio of attractive midsize sedans delivers agreeable performance, comfort and utility. Each offers its own distinct styling, with the Lincoln MKZ being the handsomest choice, though it commands a higher price. The 2008 Ford Fusion and Mercury Milan came standard with a just-sufficient 160-horsepower 2.3-liter four-cylinder engine and a choice of a five-speed manual or a five-speed automatic transmission; look instead for one that’s fitted with the optional 221-hp 3.0-liter V6 engine and six-speed automatic. Meanwhile, the Lincoln MKZ packed a quicker 263-hp 3.5-liter V-6 and the six-speed gearbox. The cars’ ride and handling characteristics are reasonably well balanced, with the Lincoln delivering a slightly plusher ride. Those subject to harsh winters should seek out a model that was equipped with the optional all-wheel-drive system for added traction. The sedans’ five-passenger interiors are sufficiently roomy and come trimmed in premium materials. If you’re a techie, look for a model that comes with Ford’s Sync voice-activated multimedia control system.

Ford Edge

The Ford Edge midsize crossover SUV debuted for 2008 and isn’t drastically different than the current generation that came out for 2011. The five-passenger Edge affords a quiet and comfortable interior, with head- and legroom that’s sufficient for four tall passengers, with a fifth being able to squeeze in as needed. A 3.5-liter V6 engine nets a brisk 265 horsepower and is nicely paired with a sophisticated six-speed automatic transmission. Handling is about average among midsize people movers, though the optional “intelligent” all-wheel-drive system improves its cornering abilities a bit on dry pavement in addition to boosting its wet-road traction. You’ll find all versions equipped with stability control and six airbags; options to look for include the nifty Sync multimedia control system, a power-operated hatchback, rear-proximity parking alarm, heated front seats and a back-seat DVD entertainment system.

Honda CR-V