Negotiating a good price on a new car can save hundreds or even thousands of…
Negotiating a good price on a new car can save hundreds or even thousands of dollars, but shoppers can save even more simply by choosing the right car to begin with. Purchase price is just one of the costs associated with vehicle ownership, and when the continuing costs of fuel, financing, insurance and depreciation are considered, saving a few bucks up front can cost more when all is said and done.
Helping consumers shop smart and save money, Kelley Blue Book’s expert editors today name the 2019 model-year brand and category winners of the eighth annual 5-Year Cost to Own Awards.
These awards recognize new vehicles with the lowest projected ownership costs.
“Our 5-Year Cost to Own information breaks down typical ownership costs, so shoppers can evaluate the out-of-pocket expenses they will incur beyond the initial purchase price. Consumers could save money down the road by choosing a vehicle that best fits their needs and their long-term budget,” said Eric Ibara, director of 5-Year Cost to Own for Kelley Blue Book. “This year, Subaru and Lexus claim the top brand and luxury brand positions. Subaru’s key advantage is its high residual value, which lowers depreciation costs. Lexus offers consumers luxury vehicles at an affordable price and without expensive repairs down the road.”
Available on Kelley Blue Book’s KBB.com for new models, 5-Year Cost to Own information takes into consideration depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees.
2019 Kelley Blue Book 5-Year Cost to Own Award Winners
2019 Kelley Blue Book 5-year Cost-to-Own Awards: Brand
2019 Kelley Blue Book 5-year Cost-to-Own Awards: Luxury Brand
2019 Kelley Blue Book 5-year Cost-to-Own Awards: By Vehicle Category
Compact Car: Kia Soul
Mid-Size/SUV Crossover 3-Row: Mitsubishi Outlander
Mid-Size Car: Honda Accord
Full-Size SUV/Crossover: Nissan Armada
Full Size Car: Chevrolet Impala
Luxury Subcompact SUV/Crossover: Lexus UX
Entry-Level Luxury Car: Acura ILX
Luxury Compact SUV/Crossover: Lexus NX
Luxury Car: Lexus GS
Luxury Mid-Size/Crossover – 2-ROW: Lexus RX
Sports Car: FIAT 124 Spider
Luxury Mid-Size SUV/Crossover – 3-ROW: INFINITI QX60
Hybrid/Alternative Energy Car: Toyota Prius c
Luxury Full-Size/Crossover: INFINITI QX80
Electric Vehicle: Nissan LEAF
Off-Road/Crossover: Jeep Wrangler
Subcompact SUV/Crossover: Mazda CX-3
Mid-Size Pickup Truck: Toyota Tacoma
Compact SUV/Crossover: Subaru Crosstrek
Full-Size Pickup Truck: Toyota Tundra
mid-Size SUV/Crossover – 2-ROW: Hyundai Santa Fe
Minivan: Honda Odyssey
(2019 model-year vehicle’s projected ownership costs are based on the average Kelley Blue Book 5-Year Cost to Own data for the initial five-year ownership period).
Kelley Blue Book 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.
For more information about the 2019 5-Year Cost to Own Award winners, visit https://www.kbb.com/new-cars/5-year-cost-to-own-awards/.