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The 22 Cheapest New Cars to Own

February 14, 2013

With the price of gasoline on the rise yet again, buying a new car today is not just about the price on the window sticker - you need to consider the true overall cost of ownership before making your final decision.

To help you figure this out, Forbes has put together a list of what they consider the 22 cheapest new cars to own in 2013 - based on the winners of the Kelley Blue Book Total Cost of Ownership Awards. KBB's list takes into consideration a number of factors, including depreciation, fuel, insurance costs, registration fees, and maintenance, to come up with a realistic figure of what it costs to own a vehicle over 5 years.

Below is the list of the 22 winners in their respective classes, sorted by lowest 5-year ownership costs. As always, I recommend you use the free CarWoo Deal Finder to get the biggest discounts on any of these vehicles.

Vehicle Segment Base MSRP 5 Year Cost Cost Per Mile
Scion iQ Subcompact Car $16,250 $27,011 $0.36
Hyundai Veloster Compact Car $18,395 $30,581 $0.41
Honda Insight Hybrid/Alternative Energy Car $19,390 $30,871 $0.41
Jeep Patriot Compact SUV/Crossover $16,990 $31,863 $0.42
Hyundai Veloster Turbo Sport Compact Car $22,895 $34,925 $0.47
Hyundai Sonata Midsize Car $21,790 $36,027 $0.48
Chevrolet Volt Electric Vehicle $39,995 $37,052 $0.49
Mazda Mazda5 Minivan $20,735 $38,193 $0.51
Mitsubishi Outlander Mid-Size SUV/Crossover $23,520 $38,786 $0.52
Ford Mustang Sports Car $22,995 $39,447 $0.53
Buick Verano Entry-Level Luxury Car $23,975 $40,137 $0.54
Ford Explorer Full-Size SUV/Crossover $29,995 $45,689 $0.61
Chevrolet Silverado 1500 Regular Cab Full-Size Pickup Truck $24,585 $46,062 $0.61
Chevrolet Impala Full-Size Car $26,685 $46,628 $0.62
Acura RDX Luxury Compact SUV/Crossover $35,215 $47,442 $0.63
Toyota Highlander Hybrid Hybrid SUV/Crossover $41,015 $48,676 $0.65
Ford Mustang GT High-Performance Sports Car $31,545 $49,592 $0.66
Lincoln MKX Luxury Mid-Size SUV/Crossover $40,420 $50,598 $0.67
Lincoln MKT Luxury Full-Size SUV/Crossover $46,160 $56,776 $0.76
Lexus GS 350 Luxury Car $48,125 $57,245 $0.76
Porsche Panamera High-End Luxury Car $76,825 $83,969 $1.12
Toyota Tacoma Double Cab Mid-Size Pickup Truck $23,370 N/A N/A
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My Recommendation for Car Shoppers

TrueCar, RydeShopper, and CarsDirect 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.
- Gregg Fidan

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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