Those who aspire to get the absolute best deal on a new car or truck need to look beyond the transaction price and consider how much each individual element of ownership will cost over time, relative to competing makes and models.
A buyer who chooses a particular vehicle primarily to save a few dollars up front might actually lose money over time if his or her choice depreciates more quickly over time than a competing vehicle and/or costs more to finance, insure, maintain, repair and keep the gas tank filled.
It all adds up, and can amount to considerable cash moving forward, particularly if one is choosing a costly luxury vehicle, simply because there’s more money at stake.
Even with the world of information at one’s fingertips via the Internet, researching such variables is not an easy enterprise. Fortunately the experts at Kelley Blue Book maintain a comprehensive database of such expenditures and recently announced the winners of its annual Five-Year Cost to Own Awards. As the name implies, these are the new models in 21 separate vehicular categories that are expected to be the most budget-friendly rides on the road over the course of a typical half-decade ownership period. We’re featuring them listed below and in the accompanying slide show.
“New-car shoppers usually pay a lot of attention to how much a car will cost upfront,” says Dan Ingle, vice president of vehicle valuations for Kelley Blue Book. “However, sometimes an even more expensive car on the front end can actually save you money during the first five years of ownership by having low total ownership costs.”
In Pictures: 22 Cheapest-To-Own Cars, Trucks And Crossovers.
The two brands KBB cited for having the lowest overall ownership costs for 2015 are Subaru and Lincoln. Subaru is singled out among mainstream nameplates for its models’ particularly strong residual values and generous dealer discounts, while Lincoln gets the nod among luxury brands for its low maintenance bills and modest depreciation and insurance costs. Among automakers, General Motors placed the most models among KBB’s award winners with nine cars, trucks and SUVs/crossovers out of 22 represented.
To see the original article, go to Forbes.com.
