Least Expensive New Cars to Own
When buying a new car, most people overlook the long-term costs.
Everyone focuses on the price, when in reality, they should really be focusing on things such as depreciation cost, fuel costs, insurance, financing, maintenance, and repair.
For example, you could save more than $7,000 over 5 years by buying a Toyota Highlander instead of a Ford Explorer, even though the Explorer is $3,000 cheaper. This comes from research done by Consumer Reports. The following is their list of the best and worst cars to own when it comes to long-term ownership costs.
|Make, model & type||Cost/yr over 5 years|
|Best||Toyota Prius C||$5,000|
|Worst||Chevrolet Cruze Eco||$7,500|
|Best||Toyota Camry Hybrid||$6,500|
|Worst||Volkswagen Passat (V6)||$9,250|
|Best||Buick Verano (2.4)||$7,750|
|Worst||Chrysler 300 C||$11,500|
|Best||Hyundai Genesis 4.6||$11,000|
|Best||Toyota RAV4 (4-cyl.)||$7,000|
|Best||Chevrolet Equinox/GMC Terrain (4-cyl.)||$8,000|
|Worst||Jeep Grand Cherokee (V8)||$12,750|
|Large & Luxury SUVs|
|Best||Ford Flex V6||$10,500|
|Worst||Cadillac Escalade (base)||$17,250|
|Sporty cars & convertibles|
|Best||Mini Cooper Hatchback Base||$5,750|
|Wagons & minivans|
|Best||Toyota Prius V||$6,000|
|Worst||Volvo XC70/Chrysler Town & Country||$10,750|
|Best||Toyota Tacoma (V6)||$8,500|
My Recommendation for Car ShoppersTrueCar No-Haggle and Edmunds Price Promise are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
California Residents - Important:There is a new online car buying service called Roadster, available only to California residents, which I highly recommend you try - especially if you hate the stress of haggling with a car salesman. They provide an expert concierge who negotiates the price of the car and delivers it to your home with zero hassle - you never have to interact with a dealership. Here is my in-depth review of Roadster and why I recommend it.
- Gregg Fidan
About: Gregg Fidan
Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
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