Least Expensive New Cars to Own
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, CarsDirect, and Ryde Shopper 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
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid