Kelley Blue Book: Cars that will be cheapest to own over 5 years
Kelley Blue Book has announced the winners of its 2013 analysis of the cars, sport utility vehicles and pickup trucks that have the lowest projected cost of ownership over the next five years.
Kelley says its analysis includes factors that go beyond depreciation and fuel costs and include “finance and insurance fees, maintenance and repair costs, and state fees for new models.”
Consumers should note that “cost to own” says nothing about whether the vehicles are reliable or drive well.
Among brands, Lexus won for luxury vehicles and Mazda took the top spot for the best non-luxury line. But U.S. automakers grabbed honors in nearly half of the model categories.
Among the winners (with projected five-year cost of ownership):
Subcompacts: Scion iQ ($27,006)
Compacts: Hyundai Veloster ($30,902)
Mid-size: Hyundai Sonata ($38,232)
Full size: Chevrolet Impala ($48,086)
Luxury: Lexus GS ($58,500)
Sports car: Ford Mustang ($39,992)
Electric vehicle: Chevrolet Volt ($37,153)
Mid-size SUV/crossover: Mitsubishi Outlander ($36,699)
Full size SUV/crossver: Ford Explorer ($48,959)
Full size pickup truck: Chevrolet Silverado 1500 regular cab ($48,551)
Dan Ingle, vice president of vehicle valuations for Kelley Blue Book, said the information contained in the awards “allows consumers to evaluate which brands and models make the most sense for their pocketbooks as they prepare for a major purchase decision in buying a new car.”
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