The cheapest cars to own for the next five years

Posted: 13 February 2018 3:39 pm

The Hyundai Sonata is one of the cheapest cars to own for the next five years

Kelley Blue Book rates the cars and trucks that are least expensive in the long run.

The price tag of a new or used vehicle is often the biggest factor people consider when buying a vehicle, but the money that car, truck, minivan or SUV burns when you drive it off the lot — and every day afterward — can be equally important.

Some vehicles hold their value better than others. Some are more fuel-efficient, saving you money every time you fill up. Some are more expensive to insure. And others will cost you more to fix.

For its annual Five Year Cost to Own Awards, Kelley Blue Book (KBB) crunched the numbers and came up with the least expensive vehicles to own over the coming five years, based on depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees.

If you’re only looking for a single logo while shopping for the cheapest cars, Hyundai is the go-to regular brand, or if you’ve got more money to spend, Acura is the top-awarded luxury brand.

Hyundai garnered the prestigious top spot with the most affordable mid-size car, the Hyundai Sonata, and runners-up in the compact and subcompact categories with the Elantra and Accent. KBB credited the brand’s warranty program as a significant factor in lowering repair costs.

Acura was named the saver’s top luxury choice for the third year in a row, thanks to high ratings for its ILX and MDX models.

Lowest five year ownership costs:

  • Subcompact car: Chevrolet Spark
  • Compact car: Toyota Corolla iM
  • Sporty compact car: Honda Civic Si
  • Mid-size car: Hyundai Sonata
  • Full-size car: Chevrolet Impala
  • Entry-level luxury car: Acura ILX
  • Luxury car: Lexus GS
  • High-end luxury car: Porsche Panamera
  • Sports car: Chevrolet Camaro
  • High-performance car: Dodge Challenger SRT
  • Hybrid/alternative energy car: Toyota Prius c
  • Electric vehicle: Nissan LEAF
  • Minivan: Honda Odyssey
  • Subcompact SUV/crossover: Honda HR-V
  • Compact SUV/crossover: Subaru Crosstrek
  • Mid-size SUV/crossover: Jeep Wrangler Unlimited
  • Full-size SUV/crossover: Chevrolet Tahoe
  • Luxury compact SUV/crossover: Buick Encore
  • Luxury mid-size SUV/crossover: Infiniti QX60
  • Luxury full-size SUV/crossover: Infiniti QX80
  • Mid-size pickup truck: Toyota Tacoma
  • Full-size pickup truck: Ford F-150

Other than the purchase price and ownership costs, the interest rate and terms of your car loan can also save you money on your next vehicle. Compare and apply for financing with the help of our guide to car loans, and check out our overview of what to look for in car insurance too. Or read up on recent headlines concerning the factors that affect how much you’ll pay to have a car.

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Picture: AS photo studio/Shutterstock

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