- Vincentric’s Best CPO Value awards include best value when buying, and lowest cost to own
- CPO is Certified Pre-Owned, which are used vehicles inspected and sold by dealers with warranty
- Value factors include depreciation, insurance, repairs, fuel, and more
Vincentric has announced the winners of its 2024 Best CPO (Certified Pre-Owned) Value in Canada, with Ford and Volvo taking the largest number of trophies at seven and five, respectively. Ford received two brand awards, for SUVs/vans and for trucks; while Volvo took one for luxury cars. Both also won additional individual vehicle trophies.
CPO vehicles are used models that are inspected to the automaker’s requirements and then sold through dealerships with a factory-backed warranty. Vincentric in Canada regularly monitors vehicles from model-year 2010 and up for their cost of ownership, including depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs.
To determine the Best Value winners — this marks the seventh year of the awards — the company awarded vehicles with lower-than-expected ownership costs, given their market segment and price. To analyze CPO vehicles, Vincentric includes the specific CPO warranty and driving distance requirements. Each vehicle is evaluated across costs in all ten provinces plus Northwest Territories, and assuming it is driven 20,000 km annually over five years.
“For the third year in a row, we’ve seen a trend of a majority of Best CPO Value in Canada award winners being first-time winners in their segments,” said David Wurster, president of Vincentric. “This trend goes to show that Canadian shoppers who are in the market for a CPO vehicle have a wide variety of great-value models to choose from.”
The winners in each category are below. Note that these are used vehicles, and some have been discontinued and are no longer available new. PHEV indicated a plug-in hybrid.
Best CPO Brand Value in Canada
Passenger Car Best Value
- Subcompact: Kia Rio
- Compact: Subaru Impreza
- Compact Hatchback: Hyundai Ioniq Hybrid
- Midsize: Ford Fusion Hybrid
- Large Sedan: Chrysler 300
- Sports Car: Mazda MX-5
Passenger Car Lowest Cost to Own
- Subcompact: Mitsubishi Mirage
- Compact: Subaru Impreza
- Compact Hatchback: Volkswagen e-Golf
- Midsize: Ford Fusion Energi
- Large Sedan: Chevrolet Impala
- Sports Car: Hyundai Veloster
Luxury Car Best Value
- Compact: BMW 3 Series PHEV
- Coupe: Mercedes-Benz E-Class
- Midsize Sedan: Volvo S60 PHEV
- Large Sedan: Volvo S90 PHEV
- Wagon: Volvo V90
- Sports Car: Audi e-tron GT
- Convertible: Audi A5
Luxury Car Lowest Cost to Own
- Compact: Acura ILX
- Coupe: Audi A5
- Midsize Sedan: Volvo S60
- Large Sedan: Jaguar XF
- Wagon: Volvo V60
- Sports Car: Nissan 370Z
- Convertible: Audi A3
SUV & Van Best Value
- Subcompact: Hyundai Kona EV
- Compact: Mazda CX-5
- Midsize: Ford Edge
- Large: Ford Expedition Max
- Minivan: Kia Sedona
SUV & Van Lowest Cost to Own
- Subcompact: Hyundai Kona EV
- Compact: Ford Escape PHEV
- Midsize: Dodge Journey
- Large: Nissan Armada
- Minivan: Dodge Grand Caravan
Luxury SUV Best Value
- Compact: Jaguar E-Pace
- Midsize: Volvo XC90
- Large: Audi Q7
Luxury SUV Lowest Cost to Own
- Compact: Volvo C40
- Midsize: Jaguar I-Pace
- Large: Infiniti QX60
Truck Best Value / Lowest Cost to Own
(Note that each of these won both divisions in their categories)
- Small/Midsize: Ford Maverick Hybrid
- ½-Ton: Ford F-150 Lightning
- ¾-Ton: Ram 2500
- 1-Ton: Ram 3500
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