We’re all pinching pennies these days, and buying the right car can help you hold on to more of that cash.
Kelley Blue Book ranks various types of cars based on how cheap they are to own over a five-year period.
In addition to looking at both the price you pay to buy the car, and the resale or trade-in value when you are ready for a new vehicle, Kelley Blue Book also looks at other factors such as:
- Maintenance costs
- Fuel costs
The cheapest new cars to own over the course of the first five years, according to KBB’s latest annual analysis, are as follows. All vehicles listed are from the 2022 model year.
- Subcompact SUV: Hyundai Venue — $30,555 five-year cost to own
- Compact SUV: Subaru Forester — $39,473
- 2-Row Midsize SUV: Subaru Outback — $43,973
- 3-Row Midsize SUV: Subaru Ascent — $48,383
- Full-Size SUV: Nissan Armada — $69,416
- Off-Road SUV: Ford Bronco — $47,961
- Subcompact Luxury SUV: Lexus UX — $46,424
- Compact Luxury SUV: Lexus NX — $51,227
- 2-Row Midsize Luxury SUV: Lexus RX — $62,099
- 3-Row Midsize Luxury SUV: Acura MDX — $60,530
- Full-Size Luxury SUV: Lexus LX — $88,956
- Compact car: Toyota Corolla — $31,464
- Midsize car: Honda Accord– $38,713
- Full-Size car: Toyota Avalon — $51,123
- Sports car: Subaru BRZ– $40,397
- Entry-Level Luxury car: Acura ILX — $41,192
- Luxury car: Volvo S90– $67,365
Trucks, EVs, Minivans
- Hybrid car: Toyota Corolla Hybrid — $31,231
- Electric Vehicle: Nissan Leaf– $34,134
- Electric Luxury Vehicle: Tesla Model 3– $48,233
- Minivan: Toyota Sienna — $44,376
- Midsize Pickup truck: Ford Ranger — $40,267
- Full-size Pickup truck: Toyota Tundra — $47,679
Kelley Blue Book notes that overall, the best brand to buy is Toyota. Among luxury brands, Lexus finished first.
If you’re planning to buy a new set of wheels, check out “13 Apps That Can Help You Shop for Cars.”