If you’re going to plop down a significant amount of money on a new car, then you don’t want to be breaking the bank a few years down the road for expenses that you didn’t factor into your budget. Some vehicles will have much higher ownership costs compared to others and that’s a major aspect that is often overlooked when planning to buy a new car. Thanks to Kelley Blue Book, you can find out the best cars to own over the long haul.
The average transaction price (ATP) for light vehicles in the United States was $36,113 in December 2017 according to Kelley Blue Book. You don’t want to add to your car budget by purchasing a ride that has exorbitant long-term ownership expenses. The vehicle that might have a slightly less sticker price might end up costing you way more in other ways. Kelley Blue Book released their “2018 5-Year Cost To Own Award Winners” this week. The company that has provided true costs of automobiles since 1926 weighed several factors to determine which car is the best bang for your buck over five years. KBB analyzed 22 different factors such as depreciation, finance rates, insurance, maintenance, repair costs, and fuel economy. Here are the top cars and trucks in a variety of vehicle categories.
SUBCOMPACT CAR: Chevrolet Spark
ELECTRIC VEHICLE: Nissan LEAF
COMPACT CAR: Toyota Corolla iM
SUBCOMPACT SUV/CROSSOVER: Honda HR-V
SPORTY COMPACT CAR: Honda Civic Si
COMPACT SUV/CROSSOVER: Subaru Crosstrek
MID-SIZE CAR: Hyundai Sonata
MID-SIZE SUV/CROSSOVER: Jeep Wrangler Unlimited
FULL-SIZE CAR: Chevrolet Impala
FULL-SIZE SUV/CROSSOVER: Chevrolet Tahoe
ENTRY-LEVEL LUXURY CAR: Acura ILX
LUXURY COMPACT SUV/CROSSOVER: Buick Encore
LUXURY CAR: Lexus GS
LUXURY MID-SIZE SUV/CROSSOVER: Infiniti QX60
HIGH-END LUXURY CAR: Porsche Panamera
LUXURY FULL-SIZE SUV/CROSSOVER: Infiniti QX80
SPORTS CAR: Chevrolet Camaro
MID-SIZE PICKUP TRUCK: Toyota Tacoma
HIGH-PERFORMANCE CAR: Dodge Challenger SRT
HYBRID/ALTERNATIVE ENERGY CAR: Toyota Prius c
FULL-SIZE PICKUP TRUCK: Ford F-150
MINIVAN: Honda Odyssey
Looks like an 85,000+ Porsche Panamera or a Dodge Challenger SRT is the way to go. You can see the methodology and previous winners over at Kelley Blue Book.
[Jalopnik]