Smart Buying Essentials

What is a BOVY?

Selected from over 1,700 2006 model-year domestic and import vehicles, the IntelliChoice BOVYs recognize those models that are the best value in their class.

Now in their 20th year, IntelliChoice's Best Overall Value of the Year awards reflect the only data-driven automotive analysis focused solely on recognizing vehicles that will cost significantly less to own than would be expected at their purchase prices.

What is a BOVY?

IntelliChoice analyzes more than 1,700 models to determine the automotive market's Best Overall Values

IntelliChoice aggregates and analyzes data from auto manufacturers, the U.S. government, and third-party data resources to determine the actual costs of ownership of new vehicles over a five-year period, and assigns a value rating to nearly 2,000 mainstream vehicles sold in America each year. This insightful value rating factors the accumulated ownership costs of depreciation, maintenance, repairs, fuel, fees, financing, and insurance to identify the true standout models in each class.

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 its peer models, thus assisting consumers in making Smart 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.

Each year, IntelliChoice identifies 37 winning models for segment and class accolades. Representing the popular segments within the car, SUV, truck, and van categories, these numerous classes ensure that you will find an award relevant to your new-vehicle search. Note that it's important to look at the trim levels for the complete financial picture, as there is variance within almost every model range regarding value.

As they did last year, in 2006 Honda and Toyota once again dominated many segments, taking a total of 25 class or overall wins. Their continued dedication to quality and refinement sees these respected automakers offering vehicles with strong resale values, impressive fuel economy, and low-maintenance costs.

Though in previous years hybrids have won BOVYs, more of these vehicles are now making a statement. Eight hybrids took top place in their respective classes, including the new Escape and Highlander models. Hybrids are available in an increasing number of classes, giving consumers even more choices.

While some vehicles remain consistent performers year after year, subtle shifts in ownership costs, value ratings and subsequently the BOVYs are to be expected. This may be due to in part to customary changes in the assumptions we use to calculate a given cost area (for example, the financing rate), changes in vehicle or manufacturer data (a number of manufacturers reduced powertrain warranty lengths or dropped maintenance warranties altogether in 2006), a widespread cost fluctuation over time (as with fuel or insurance), or a significant variance in the vehicle competitor set within a given class.

Depreciation is still the most significant area of ownership costs, and as a rule, vehicles with good or improved retained value tend to do better in overall value. However, with an increase in fuel and insurance costs this year, the percentage of total ownership cost that depreciation represents was marginally reduced.

The BOVY list for 2006 can be viewed at http://www.intellichoice.com/best_values/bovy (new winners are posted each year in late January). To review specific cost areas, and make trim-to trim comparisons, simply click through on the IntelliChoice 5-Year Ownership Cost link on any vehicle report.

If a vehicle trim performed 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 20%) in their respective classes.

It should be mentioned that due to the transient nature of manufacturer rebates, such short-term incentives are not included in the annual calculations for Best Overall Values. However, IntelliChoice repeats this analysis on a monthly basis to include recently released models, and to account for updated fuel costs, pricing changes, and nationally available rebate programs. The vehicles that stand out on a monthly basis are dubbed "Best Deals of the Month." A complete listing of Best Deals of the Month can be found at http://www.intellichoice.com/best_deals/bestDeals.

The Best Overall Value of the Year awards identify THE vehicles that promise the best return on investment within their classes.