Least Expensive New Cars to Own
August 23, 2012
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 | |
|---|---|---|
| Small cars | ||
| Best | Toyota Prius C | $5,000 |
| Worst | Chevrolet Cruze Eco | $7,500 |
| Family sedans | ||
| Best | Toyota Camry Hybrid | $6,500 |
| Worst | Volkswagen Passat (V6) | $9,250 |
| Upscale cars | ||
| Best | Buick Verano (2.4) | $7,750 |
| Worst | Chrysler 300 C | $11,500 |
| Luxury cars | ||
| Best | Hyundai Genesis 4.6 | $11,000 |
| Worst | BMW 750Li | $21,500 |
| Small SUVs | ||
| Best | Toyota RAV4 (4-cyl.) | $7,000 |
| Worst | Cadillac SRX | $11,750 |
| Midsized SUVs | ||
| 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 |
| Worst | Jaguar XK | $19,000 |
| Wagons & minivans | ||
| Best | Toyota Prius V | $6,000 |
| Worst | Volvo XC70/Chrysler Town & Country | $10,750 |
| Light-duty pickups | ||
| Best | Toyota Tacoma (V6) | $8,500 |
| Worst | Chevrolet Avalanche | $13,000 |
My Recommendation for Car Shoppers
TrueCar No-Haggle, CarsDirect, and NADAGuides 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
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About The Author
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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