Kelley Blue Book (KBB) has announced the 2015 model-year vehicles and brands with the lowest projected ownership costs. These awards are based on KBB’s “5-Year Cost to Own” data for new cars for the initial five-year ownership period.
While depreciation (or loss of value) and fuel costs could be the greatest expense incurred in owning a vehicle, there are other factors that can have an impact on a consumer’s budget.
Found on KBB.com, “5-Year Cost to Own” information looks at expected fuels costs, depreciation, finance and insurance fees, maintenance and repair costs as well as state fees for new vehicle models.
"New-car shoppers usually pay a lot of attention to how much a car will cost upfront; however, sometimes an even more expensive car on the front end can actually save you money during the first five years of ownership by having low total ownership costs," said Dan Ingle, vice president of vehicle valuations for Kelley Blue Book. "Kelley Blue Book's 5-Year Cost to Own information evaluates the other out-of-pocket expenses drivers will incur beyond the initial purchase price, which helps consumers choose the vehicle that fits their needs and their long-term budget best, helping save money down the road."
2015 5-Year Cost to Own Award: Brand — Subaru
2015 5-Year Cost to Own Award: Luxury Brand — Lincoln
|2015 5-Year Cost to Own Awards: By Vehicle Category|
|SUBCOMPACT CAR: Chevrolet Spark|
|COMPACT CAR: Toyota Corolla|
|SPORTY COMPACT CAR: Honda Civic Si|
|MID-SIZE CAR: Mazda MAZDA6|
|FULL-SIZE CAR: Chevrolet Impala|
|ENTRY-LEVEL LUXURY CAR: Buick Verano|
|LUXURY CAR: Audi A5|
|HIGH-END LUXURY CAR: Lexus LS|
|SPORTS CAR: Mazda MX-5 Miata|
|HIGH-PERFORMANCE CAR: Ford Mustang GT|
|HYBRID/ALTERNATIVE ENERGY CAR: Toyota Prius c|
|PLUG-IN VEHICLE: Chevrolet Spark EV|
|COMPACT SUV/CROSSOVER: Jeep Patriot|
|MID-SIZE SUV/CROSSOVER: Jeep Wrangler Unlimited|
|FULL-SIZE SUV/CROSSOVER: Ford Explorer|
|LUXURY COMPACT SUV/CROSSOVER: Buick Encore|
|LUXURY MID-SIZE SUV/CROSSOVER: Lincoln MKX|
|LUXURY FULL-SIZE SUV/CROSSOVER: Buick Enclave|
|MID-SIZE PICKUP TRUCK: Chevrolet Colorado Crew Cab|
|FULL-SIZE PICKUP TRUCK: GMC Sierra 1500 Regular Cab|
|MINIVAN/VAN: Mazda MAZDA5|
|HYBRID SUV/CROSSOVER: Toyota Highlander Hybrid|
Kelley Blue Book’s “5-Year Cost to Own” information is developed using Kelley Blue Book Residual Values to calculate depreciation costs. Kelley Blue Book calculates total ownership costs for new vehicles by applying a sophisticated valuation methodology along with critical financial data from third-party providers, according to the company.
For more information about the winners, please visit http://www.kbb.com/new-cars/5-year-cost-to-own-awards/
Originally posted on Automotive Fleet