Buyers Find Deals With 'Dark Horse Cars'

Aug. 24, 2009 — -- The Cash for Clunkers program officially ends this evening, so would you like to learn another way to save a pile of money on a brand new car? A method that you can use anytime, without Uncle Sam's help? Yes? OK, let's get started.

I'm talking about buying a "dark horse car," a term coined by auto Web site Edmunds.com. These are vehicles that are similar to the most popular models but less well-known.

For example, Edmunds says the Nissan Altima is similar in features and quality to the Toyota Camry, but less expensive because it doesn't have the famous name. Edmunds says "dark horses" can be as much as 20 percent less expensive.

There are lots of dark horse cars. Here's a list of popular models and their dark horse counterparts to get you started thinking this way.

Edmunds.com Road Test Editor Brian Moody compiled this list for me. "People tend to pick cars that are well-known," Moody said. "Many shoppers simply ask a friend or relative for advice and that only reinforces that the most popular cars are the most popular simply because they are popular."

Moody says how much a manufacturer spends on advertising can also be a factor, giving certain vehicles high name recognition. He also points out the most popular models "may be the most generic, the ones with mass appeal."

So, want to be a money-saving individualist? Consider a dark horse car. Here's what Moody had to say about the examples he selected:

"Many people need a minivan but just don't want to be seen in one," Moody said. "For those people, the Ford Flex is excellent. It's comfortable, spacious and adds some much needed style to the family hauler segment."

Moody on Hyundai: "Anyone who sees Hyundai as just a budget-friendly brand hasn't been paying attention. The Genesis comes with a V6 or V8 engine and is just as nice inside as any Lexus."