Kelley Blue Book, the car-pricing guide, has released its 2013 5-Year Cost to Own Awards.
Their picks are based on the vehicles’ Kelley Blue Book Fair Purchase Price, expected depreciation, financing, gas, maintenance and insurance costs over the first five years of ownership. Here are their winners by category…
| SUBCOMPACT CAR: Scion iQ | COMPACT SUV/CROSSOVER: Jeep Patriot |
| COMPACT CAR: Hyundai Veloster | MID-SIZE SUV/CROSSOVER: Mitsubishi Outlander |
| SPORTY COMPACT CAR: Hyundai Veloster Turbo | FULL-SIZE SUV/CROSSOVER: Ford Explorer |
| MID-SIZE CAR: Hyundai Sonata | LUXURY COMPACT SUV/CROSSOVER: Acura RDX |
| FULL-SIZE CAR: Chevrolet Impala | LUXURY MID-SIZE SUV/CROSSOVER: Lincoln MKX |
| ENTRY-LEVEL LUXURY CAR: Buick Verano | LUXURY FULL-SIZE SUV/CROSSOVER: Lincoln MKT |
| LUXURY CAR: Lexus GS | MID-SIZE PICKUP TRUCK: Toyota Tacoma Double Cab |
| HIGH-END LUXURY CAR: Porsche Panamera | FULL-SIZE PICKUP TRUCK: Chevrolet Silverado 1500 Regular Cab |
| SPORTS CAR: Ford Mustang | MINIVAN/VAN: Mazda MAZDA5 |
| HIGH-PERFORMANCE CAR: Ford Mustang GT | HYBRID SUV/CROSSOVER: Toyota Highlander Hybrid |
| HYBRID/ALTERNATIVE ENERGY CAR: Honda Insight | |
| ELECTRIC VEHICLE: Chevrolet Volt |
The overall cheapest-to-own cars on the list are in the predictable categories: tiny and green. That’s the 2013 Scion iQ ($27,006 over five years), 2013 Hyundai Veloster ($30,902) and the 2013 Honda Insight ($33,014).
Of course, there are a lot of ways to drop costs further: check out our stories linked below. One easy way to beat the pants off all of these? Buying used.
This article was originally published on MoneyTalksNews.com as ‘Cheapest New Cars to Own for 5 Years’.
