Most car buyers fixate on price -- and how that translates into
monthly loan payments -- without bothering to calculate other
long-term ownership costs. But comparing what you'll likely pay for
fuel, insurance and repairs over the time you own a vehicle makes
you a much smarter shopper -- and could save you thousands of
dollars.
SEE OUR SLIDE SHOW:
10 Cheapest Cars to Own
We asked
Vincentric
, an automotive data firm, for a list of vehicles with the lowest
five-year ownership costs, including repairs, maintenance, taxes,
fuel, insurance, financing with a five-year loan, the opportunity
cost of not investing your out-of-pocket expenses elsewhere, and
depreciation (the calculations assume you will sell the vehicle
after five years). Comparing those autos with ones that did well in
Kiplinger's annual rankings -- in which we reward performance,
value and safety -- we found the best bang for the buck in four
categories.
Compacts.
Nissan's base Versa
(sticker price: $11,770), with five-year ownership costs tallying
$27,135, tops the cheap list. But it has a full complement of
safety features, plus standard air conditioning, and it gets 27
miles per gallon in the city and 36 on the highway. The Versa also
earns a Top Safety Pick designation from the Insurance Institute
for Highway Safety. But horsepower is a paltry 109, the interior is
swathed in hard plastic, and the seats are uncomfortably stiff.
In this class, we think the
Ford Focus S
is a better choice. It has a higher sticker price ($17,295), but
the total five-year cost, at $31,553, is close. Better yet, the
Ford features a zippy 2.0-liter engine that puts out 160 horsepower
and gets 26 mpg city and 36 highway. It also has high three-year
and five-year resale values. The Focus was redesigned for 2012, and
it is a Top Safety Pick.
Family sedans.
Midsize family sedans may not be sexy, but they are safe. A case in
point is the
Toyota Camry
. The Camry scores a Top Safety Pick from IIHS and a five-star
overall rating in government crash tests. The base-level version
($22,715) has the lowest five-year ownership costs in its class:
$34,237. The entire Camry lineup was redesigned for 2012, and the
Hybrid LE ($26,660) won Best New Car in our annual rankings (its
five-year costs run $35,257).
If your tastes run toward European driving dynamics, consider
the
Volkswagen Passat S
($20,765). It's clean-cut inside and out and matches the Camry's
safety awards. Ownership costs are a modest $36,063. The Passat S
is equipped with a peppy 2.5-liter, five-cylinder engine; the
diesel-powered Passat TDI ($26,765) picked up a Best New Car nod as
well.
Luxury cars.
The
Audi A3 2.0T TDI
($31,125) has the lowest ownership costs -- $43,138 -- of any
luxury ride, despite the price premium for the diesel engine.
That's thanks mostly to the TDI's 30 mpg in the city and 42 on the
highway.
If a German hatchback isn't your style, check out the
Acura TSX
($30,695). Its four-cylinder engine is powerful but thrifty; it
produces 201 horses and gets 22 mpg in the city and 31 on the
highway. A moonroof is standard, as are heated leather seats (both
are options on the more expensive A3). Five-year ownership costs
total $45,575. Both the A3 and the TSX are IIHS Top Safety
Picks.
Midsize/large crossovers.
If you're looking for an inexpensive vehicle for hauling the kids
or the groceries, the
Dodge Journey SE
($19,895) is it: Five-year ownership costs are $37,523. Handling is
spot-on for a vehicle of its size, and it's an IIHS Top Safety
Pick. But legroom and cargo space are cramped, and power is on the
tepid side.
For tried-and-true value, our pick is the
Honda Pilot LX
($29,280). Its resale values are high, it offers generous passenger
and cargo space, and it has a dozen cup holders. The Pilot is also
an IIHS Top Safety Pick. Five-year ownership costs total
$44,396.
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