The 22 Cheapest New Cars to Own
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
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 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|
|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|
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe 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 NetworkSelect 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).
Step 2 Get Prices From TrueCar / CarsDirectTrueCar, 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 ChecklistFollow 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