What is a BOVY?

Vehicles with just low ownership costs do not necessarily make good values. IntelliChoice’s Best Overall Value of the Year (BOVY) Awards recognize those vehicles whose total cost of ownership is significantly lower than expected relative to their peer models, thus assisting consumers in making smarter purchase decisions. These vehicles are not just excellent values; they are the top-ranked models in their respective classes. While there are many factors to consider when buying a new vehicle, the annual BOVY winner list provides a quick reference to distinguish those vehicles on the market that promise the best return on investment.

This year, IntelliChoice reduced the number of overall categories to mirror the way consumers are researching and shopping for their cars. Wagons for example are now included with crossover vehicles, as many of them are direct competitors within those classes. Instead of “over and under” segments based solely on price, several of the classes are now broken out as Popular and Premium. This also allows for an evolving market where makes that are traditionally considered luxury-only now offer entry level premium cars in their lineups. As well, mainstream brands now also feature high-end premium competitors to the standard luxury manufacturers. These changes result in 21 winners for the 2011 model year. Such varied and thorough segmentation is utilized to ensure that you will find an award relevant to your new-vehicle search.

This year’s winner list sees new winners such as the Infiniti M37, GMC Yukon and Volvo XC90, as well as vehicles that have been consistent value leaders like the Toyota Prius, Toyota Sienna and MINI Cooper. All in all, ten brands are on the list with Toyota, Lexus and Volvo winning multiple awards.

The BOVY list for 2011 can be viewed at intellichoice.com/best_values/bovy (new winners are posted each year in early February). To review specific cost areas and make trim-to-trim comparisons, simply click the Ownership link on any vehicle buyer’s guide.

What is an Excellent Value?

In addition to our BOVY Awards, IntelliChoice assigns a value rating to all mainstream vehicles sold in the U.S. each year. Vehicles can receive a rating of Excellent, Above Average, Average, Below Average or Poor. Each year IntelliChoice analyzes over 1,800 models. The value ratings factor the accumulated ownership costs of depreciation, maintenance, repairs, fuel, fees, financing and insurance to identify the true standout models in each class. Overall value ratings are determined by taking the individual statistical/economic performance of each trim within assigned model line groups (for example, Audi A5 Coupe and Audi A5 Convertible) and generating an average of those figures. These averages are then ranked and rated against the other model lines within the vehicle’s class. The top 10 to 15 percent of models within a class receive an Excellent value rating.

IntelliChoice also rates the vehicles by each specific trim. Thus, once a consumer determines which model they are interested in, they also have an understanding of how a particular trim line rates within the model lineup. Since many vehicles have numerous trims available, and the price of each can be dramatically different (in terms of cost and options), it’s critical to be able to determine which trim may be a better investment value than another. Often times, pricier trims do not hold their value as well, may have higher maintenance costs, or may have performance powertrains that reduce the fuel efficiency of the vehicle. Any or all of these ownership cost areas can negatively impact the value rating.

What is a SmartChoice Award?

SmartChoice Awards are given to models that perform particularly well in one or more individual ownership cost areas; we indicate it on the Overview page of each vehicle report. These vehicles are either the Best or Among the Best (top 10%) in their respective classes and are dubbed a SmartChoice in their particular ownership cost areas.

IntelliChoice gives out SmartChoice Awards for retained value, ownership costs, operating costs, fuel, maintenance and repairs.

What is a Best Deal of the Month?

Each month, IntelliChoice looks at what it costs to buy, own, and operate every new model-year trim line. In doing so, we take into consideration the car's current purchase price (vehicle pricing often changes over the course of the year), market conditions and current national average fuel prices, and we include any national manufacturer consumer rebates. Based on this information we identify the month's "Best Deals" - those trim lines that are currently the best ownership cost values in their class. IntelliChoice may update Best Deals two to three times each month in order to capture the many expiring rebates and ongoing programs, giving the consumer the most up-to-date data analysis. Please check the Rebates and Incentives area of our site to see existing programs.

What is a Best Bet?

In advance of our annual Best Overall Value of the Year analysis, IntelliChoice identifies next-model-year vehicles that demonstrate the most potential for being a good or great value. These vehicles are designated “Best Bets” for the new model year. As with past years, the complete analysis covering some 1,800 trims will be done in early January.

To determine these early evaluations and results, we compare each vehicle model to the currently available same-model-year vehicles in its respective competitive set. The expected costs are based on current fuel and financing assumptions and averages that include all applicable competitors; new expected costs cannot be determined until the majority of the current-model-year vehicles are available later this year.

What is a Motorist Choice Award?

A collaboration between Intellichoice and AutoPacific, the Motorist Choice Award winners are vehicles that represent the best values in overall ownership costs combined with those rated highest in customer satisfaction.

The 5th Annual Motorist Choice Awards include 15 new areas in which buyers might categorize their potential purchase, including Best People Mover, Best Cargo Hauler and Best Value Car. Each of the 15 categories is subdivided, honoring automakers from both popular and premium brands.

Even in light of this year’s public relations challenges, Lexus and parent company Toyota managed to come away with 10 of a possible 30 awards chosen by motorists from this year’s field. The automaker swept categories including City Car and Eco-Friendly. Other surprises included the Hyundai Genesis sedan, earning top marks in the Country Club category for popular brands.

The Motorist Choice Awards represent the commitment IntelliChoice and AutoPacific share in being advocates on behalf of the car buying public - empowering consumers to make educated decisions about potential purchases that satisfy not only their automotive needs but also their wants.