So many times the only things we consider in our new car purchase are: price, interest rate, and fuel consumption. But what about all of the other hidden costs that go into owning car? Getting a great deal on that brand new Hyundai Sonata might sound like a great idea now but then you have to insurance, maintenance costs, repairs, and for the really money savvy the cost of depreciation.
Yahoo! Recently put together a list of the top ten cheapest cars to own. Their 5-year ownership cost includes 5 years of fuel and 5 years of insurance at national averages. They did not, however, add in the cost of repairs and maintenance to the total but these figures are available in the original article for each model.
Model: Nissan Versa 1.6 Base 4Dr
MSRP: $10,922.00
5-Year Total Ownership Cost: $26,233.00
Model: Hyundai Accent GL 2Dr Hatch
MSRP: $9,677.00
5-Year Total Ownership Cost: $26,715.00
Model: Chevy Aveo5 LS 4Dr Hatch
MSRP: $11,038.00
5-Year Total Ownership Cost: $26,958.00
Rounding out the top 10 are the Ford Fiesta S 4Dr ($28,402.00 5-Year Total), Mazda2 Sport 4dr Hatch ($28,593.00), Toyota Yaris 4dr ($28,616.00), Kia Rio 4Dr ($29,157.00), Kia Soul 4Dr Hatch ($29,275.00)Honda Insight 4dr Hatch ($29,953.00), and the Ford Focus S 4Dr ($30,290.00).
All of these make great commuter and entry-level vehicles. Except for the Versa, Accent, and Aveo, the other 7 come standard with most of the latest safety features including side curtain airbags, ABS and stability.
Overall each of these 10 models keep repair cost over the 5 year period to around $1,500 (or about $300/year) and standard maintenance costs between $1500 and $2000.
Keeping in mind that costs will vary based on your location, these vehicles offer everything you could ask for in an entry level vehicle, while keeping more money in your pocket.
No comments:
Post a Comment