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Cars With the Lowest Ownership Costs
March 27, 2014In the case of cars, what at first may seem like a great deal can sometimes turn into a money pit due to the high cost of maintenance and ownership. While you may pay little to get the car, suddenly you're draining your bank account on gas, insurance, maintenance and other fees.
On the flipside, there are those cars that are just a dream to own and if you can get them at a great deal, all the better!
To help you navigate these murky waters, Consumer Reports recently released a list of the vehicles they consider the most and least expensive to own. On the least expensive list are the likes of the Toyota Prius C Two, Honda Civic Si, and Chevrolet Traverse. While on the most expensive list are the Nissan Armada Platinum, Dodge Dart Aero, and Volkswagen Passat SEL Premium.
As always, I recommend you use TrueCar No Haggle and CarsDirect to get the best deal possible on any of these vehicles.
Least Expensive to Own
|Category||Vehicle||5-Year Owner Cost|
|Subcompact Cars||Toyota Prius C Two||$24,600|
|Compact Cars||Toyota Prius Four||$28,200|
|Midsized Sedans||Toyota Camry Hybrid XLE||$31,800|
|Large Cars||Toyota Avalon Hybrid Limited||$41,400|
|Upscale Sedans||Buick Verano Leather (2.4) & Lexus CT 200h Premium||$37,800|
|Luxury Sedan||Lexus ES300h||$42,000|
|Sporty Cars||Honda Civic Si (manual)||$34,800|
|Small SUVs||Subaru XV Crosstrek Premium||$34,200|
|Midsized SUVs||Hyundai Santa Fe Sport 2.4||$36,600|
|Large SUVs||Chevrolet Traverse||$51,000|
|Compact Luxury SUVs||Mini Cooper Countryman S||$37,800|
|Midsized & Large Luxury SUVs||Buick Enclave CXL||$54,600|
Most Expensive to Own
|Category||Vehicle||5-Year Owner Cost|
|Subcompact Cars||Hyundai Veloster (base, manual)||$32,400|
|Compact Cars||Dodge Dart Aero (1.4T)||$37,200|
|Midsized Sedans||Volkswagen Passat SEL Premium (V6)||$45,600|
|Large Cars||Chrysler 300C||$55,800|
|Upscale Sedans||Lexus IS 250 (AWD)||$54,000|
|Luxury Sedan||BMW 750Li||$106,200|
|Sporty Cars||Porsche Boxster 2.7 (manual)||$64,200|
|Small SUVs||Volkswagen Tiguan SEL||$48,000|
|Midsized SUVs||Jeep Grand Cherokee Limited (V8)||$57,000|
|Large SUVs||Nissan Armada Platinum||$72,000|
|Compact Luxury SUVs||Cadillac SRX Luxury &Mercedes-Benz GLK350||$57,000|
|Midsized & Large Luxury SUVs||Mercedes-Benz GL350 BlueTec||$78,000|
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).
Select Vehicle to Get Local Pricing
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
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About The AuthorGregg 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.
I welcome your car buying questions. Email Me and I'll be glad to answer them!