Kelley Blue Book's annual study of cheap-to-own cars shows you can spend less than $40,000 over five years on several new vehicles.
Kelley Blue Book, the car-pricing guide, has released its 2013 5-Year Cost to Own Awards.
Their picks are based on the vehicles’ Kelley Blue Book Fair Purchase Price, expected depreciation, financing, gas, maintenance and insurance costs over the first five years of ownership. Here are their winners by category…
SUBCOMPACT CAR: Scion iQ COMPACT SUV/CROSSOVER: Jeep Patriot COMPACT CAR: Hyundai Veloster MID-SIZE SUV/CROSSOVER: Mitsubishi Outlander SPORTY COMPACT CAR: Hyundai Veloster Turbo FULL-SIZE SUV/CROSSOVER: Ford Explorer MID-SIZE CAR: Hyundai Sonata LUXURY COMPACT SUV/CROSSOVER: Acura RDX FULL-SIZE CAR: Chevrolet Impala LUXURY MID-SIZE SUV/CROSSOVER: Lincoln MKX ENTRY-LEVEL LUXURY CAR: Buick Verano LUXURY FULL-SIZE SUV/CROSSOVER: Lincoln MKT LUXURY CAR: Lexus GS MID-SIZE PICKUP TRUCK: Toyota Tacoma Double Cab HIGH-END LUXURY CAR: Porsche Panamera FULL-SIZE PICKUP TRUCK: Chevrolet Silverado 1500 Regular Cab SPORTS CAR: Ford Mustang MINIVAN/VAN: Mazda MAZDA5 HIGH-PERFORMANCE CAR: Ford Mustang GT HYBRID SUV/CROSSOVER: Toyota Highlander Hybrid HYBRID/ALTERNATIVE ENERGY CAR: Honda Insight ELECTRIC VEHICLE: Chevrolet Volt
The overall cheapest-to-own cars on the list are in the predictable categories: tiny and green. That’s the 2013 Scion iQ ($27,006 over five years), 2013 Hyundai Veloster ($30,902) and the 2013 Honda Insight ($33,014).
Of course, there are a lot of ways to drop costs further: check out our stories linked below. One easy way to beat the pants off all of these? Buying used.