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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 & typeCost/yr over 5 years
Small cars
BestToyota Prius C$5,000
WorstChevrolet Cruze Eco$7,500
Family sedans
BestToyota Camry Hybrid$6,500
WorstVolkswagen Passat (V6)$9,250
Upscale cars
BestBuick Verano (2.4)$7,750
WorstChrysler 300 C$11,500
Luxury cars
BestHyundai Genesis 4.6$11,000
WorstBMW 750Li$21,500
Small SUVs
BestToyota RAV4 (4-cyl.)$7,000
WorstCadillac SRX$11,750
Midsized SUVs
BestChevrolet Equinox/GMC Terrain (4-cyl.)$8,000
WorstJeep Grand Cherokee (V8)$12,750
Large & Luxury SUVs
BestFord Flex V6$10,500
WorstCadillac Escalade (base)$17,250
Sporty cars & convertibles
Best Mini Cooper Hatchback Base $5,750
Worst Jaguar XK $19,000
Wagons & minivans
BestToyota Prius V$6,000
WorstVolvo XC70/Chrysler Town & Country$10,750
Light-duty pickups
BestToyota Tacoma (V6)$8,500
WorstChevrolet Avalanche$13,000

When you're ready to buy a new car, use the RydeShopper

3 Steps Every Car Buyer Needs to Take to Save Maximum Money

The key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:

Step 1 Get Prices From My Trusted Network

Select the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Select Vehicle to Get Local Pricing

Step 2 Get Prices From TrueCar / CarsDirect

TrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.

Step 3 Complete my Checklist

Follow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan

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About The Author

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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