5 Cheapest Cars to Own
5 Cheapest Cars to Own
5 Cheapest Cars to Own
The price you negotiate for a car and the interest you pay on the car loan are only part of the cost equation. Insurance, depreciation, taxes and fees, what you pay over the years for fuel, service and repairs, and even the opportunity cost of the money you lay out as a down payment (what you'd make if you invested the money elsewhere) are all important ingredients in the cost of ownership.
All the vehicles on the list are small either compacts or subcompacts because they tend to have the lowest market price, the best fuel economy, and reasonable insurance rates since premiums tend to rise with horsepower.
Note that with the lower-price class, you may also have to pay extra for automatic transmission, air conditioning and sometimes even a radio not to mention such safety features as anti-lock brakes. Most are equipped with six standard airbags but only half have standard stability control. (The market price is the average transaction cost and reflects rebates; all vehicles have manual transmissions, unless otherwise noted.)
Nissan Versa 1.6 Base 4dr
Market price: $10,922
5-Year fuel cost: $8,456
5-Year insurance cost: $4,851
Total 5-Year ownership cost: $26,233
Depreciation: $6,874
Fees & taxes: $905
Financing 5-year loan at 5.95 percent: $1,371
Opportunity cost of a 15 percent down payment: $452
Maintenance: $1,917
Repairs: $1,406
Nissan's subcompact hatch, which gets 26 miles per gallon in the city and 34 mpg on the highway, hits the streets at a smidge over ten grand but offers a bigger interior than classmates Toyota Yaris and Honda Fit. Six airbags are standard on even the lowest trim, but you'll pay $250 extra for ABS.
Hyundai Accent GL 2dr hatch
Market price: $9,677
5-Year fuel cost: $8,085
5-Year insurance cost: $5,134
Total 5-Year ownership cost: $26,715
Depreciation: $7,748
Fees & taxes: $822
Financing 5-year loan at 5.95 percent: $1,207
Opportunity cost of a 15 percent down payment: $423
Maintenance: $1,795
Repairs: $1,500
For under $11,000, the Accent boasts killer fuel economy of 34 mpg on the highway and 28 in the city. Even on the base model, optional equipment includes an iPod hookup ($35) and Bluetooth ($325). Six airbags are standard, but there's no option for ABS.
Chevrolet Aveo5 LS 4dr hatch
Market price: $11,038
5-Year fuel cost: $8,171
5-Year insurance cost: $5,446
Total 5-Year ownership cost: $26,958
Depreciation: $7,547
Fees & taxes: $919
Financing 5-year loan at 5.95 percent: $1,385
Opportunity cost of a 15 percent down payment: $451
Maintenance: $1,618
Repairs: $1,422
Chevy's smallest car will be replaced next year by the Sonic, but for 2011 the little hatchback offers good interior space and cargo room 15 cubic feet with the 60/40 split rear seat up. Maintenance and repairs average just $3,000 for five years. Side airbags and six months of OnStar Automatic Crash Response are standard, but ABS and side-curtain airbags are not available. Mileage is 27 city, 35 highway.
Ford Fiesta S 4dr
Market price: $13,212
5-Year fuel cost: $7,576
5-Year insurance cost: $5,623
Total 5-Year ownership cost: $28,402
Depreciation: $8,919
Fees & taxes: $1,063
Financing 5-year loan at 5.95 percent: $1,690
Opportunity cost of a 15 percent down payment: $467
Maintenance: $1,564
Repairs: $1,500
The return of the Fiesta to Ford's lineup brings serious value and premium-car amenities to the compact category. A wallet-friendly price meets a peppy engine, an ultra-smooth manual transmission, and terrific handling. The SE trim offers Ford's SYNC system (to connect phones and music players) as a $665 option. Even the entry-level Fiesta boasts a full complement of safety equipment: seven airbags (including a driver's knee airbag), ABS, stability control and traction control. Mileage is 28 city, 37 highway. Coolest electronic gadgets!
Mazda2 Sport 4dr hatch
Market price: $14,625
5-Year fuel cost: $7,825
5-Year insurance cost: $5,630
Total 5-Year ownership cost: $28,593
Depreciation: $8,405
Fees & taxes: $1,139
Financing 5-year loan at 5.95 percent: $1,864
Opportunity cost of a 15 percent down payment: $490
Maintenance: $1,613
Repairs: $1,627
Its design is unmistakably Mazda, but the Mazda2 isn't just a downsized Mazda3. Built on the same platform as the Ford Fiesta, this sporty hatch takes corners with ease, and it has a full line of standard safety equipment ABS, stability and traction control, and six airbags. Mileage is 29 city, 35 highway. Can't wait to buy these electronic gadgets?
Use this checklist and save big with cheap tech gadgets the next time you make a car purchase.
4x Car BMW Wheel Center Hub Caps E36 E46 E60 M3 High End Used Cars from Japan Group Buying Power Save on Avis Car Rentals with Promo Codes Search engine optimization: a great source of advertising and increasing the revenue How To Make a Move More Affordable Using An Atlanta Apartment Finder BVI Charter: Book the BVI Sailing Vacation Aboard a Luxury Yacht Ways To Enhance Google Search Engine Ranking Japan Used Cars – The Brand Toyota Picturesque And Popular, Pittsburgh's A Vacation Destination Beyond Comparison How To Get Rid Of Pimple Scars Arlington Heights Nissan dealers offer practicality and style Importance of Neonatal Care: At Home or Abroad Your Dream Home Can Now Become Your Affordable Sweet Home