Buying a new car is easily the most foolhardy yet unabashedly appealing financial decision that you make in your life. Once you drive your new car off the lot the value of a new car plummets so much that they have to get by on that intoxicating new smell and the prospect of 60 monthly payments keeping you from driving it into the nearest tree.
But there is hope for people looking for a practical, frugal and efficient new vehicle that won’t cost an arm and a leg over a five year period. What are some of the main costs car owners incur? Well, there’s car insurance, gasoline, maintenance and even that nebulous concept of “depreciation” is one of the set “costs of ownership” with your new ride.
As you’ll notice, the ten least expensive new cars over 5 years are all inexpensive, entry level economy cars. It makes sense as things like car insurance go up the faster your car is and these basic models are usually very reliable thanks to their simple mechanical make-up compared to, say, a luxury car. These models also have the new benefit of running on regular unleaded gasoline. Hey, that’s really going to matter soon.
Nissan Versa Base 4-Door (Total 5-year ownership cost: $26,263)
Hyundai Accent 3-Door (Total 5-Year ownership cost: $26,715)
Chevy Aveo 5-Door Hatchback (Total 5-Year ownership cost: $26,958)
Ford Fiesta SedanTotal (Total 5-Year ownership cost: $28,402)
Mazda2 5-Door Hatchback (Total 5-Year ownership cost: $28,593)
Toyota Yaris 4-Door Sedan (Total 5-Year ownership cost: $28,616)
Kia Rio 4-Door Sedan (Total 5-Year ownership cost: $29,157)
Kia Soul 5-Door Hatchback (Total 5-Year ownership cost: $29,275)
Honda Insight 5-door Hybrid (Total 5-Year ownership cost: $29,953)
Ford Focus 4-Door Sedan (Total 5-Year ownership cost: $30,290)
Source: Yahoo.com
But there is hope for people looking for a practical, frugal and efficient new vehicle that won’t cost an arm and a leg over a five year period. What are some of the main costs car owners incur? Well, there’s car insurance, gasoline, maintenance and even that nebulous concept of “depreciation” is one of the set “costs of ownership” with your new ride.
As you’ll notice, the ten least expensive new cars over 5 years are all inexpensive, entry level economy cars. It makes sense as things like car insurance go up the faster your car is and these basic models are usually very reliable thanks to their simple mechanical make-up compared to, say, a luxury car. These models also have the new benefit of running on regular unleaded gasoline. Hey, that’s really going to matter soon.
Nissan Versa Base 4-Door (Total 5-year ownership cost: $26,263)
Hyundai Accent 3-Door (Total 5-Year ownership cost: $26,715)
Chevy Aveo 5-Door Hatchback (Total 5-Year ownership cost: $26,958)
Ford Fiesta SedanTotal (Total 5-Year ownership cost: $28,402)
Mazda2 5-Door Hatchback (Total 5-Year ownership cost: $28,593)
Toyota Yaris 4-Door Sedan (Total 5-Year ownership cost: $28,616)
Kia Rio 4-Door Sedan (Total 5-Year ownership cost: $29,157)
Kia Soul 5-Door Hatchback (Total 5-Year ownership cost: $29,275)
Honda Insight 5-door Hybrid (Total 5-Year ownership cost: $29,953)
Ford Focus 4-Door Sedan (Total 5-Year ownership cost: $30,290)
Source: Yahoo.com
