We report on a lot of awards, some of which are given out based on more solid criteria than others. This one, the Kelley Blue Book 5-Year Cost to Own awards, seems like one that new car shoppers should pay attention to.
The cost of a car goes far beyond what you pay for the actual metal, leather and rubber at the point of purchase. Fuel, insurance, maintenance and repair costs, and the cost of fees from the state and financing will all weigh on your wallet while you own the car. That’s not even taking into account the biggest cost: depreciation, or the amount of money you lose based on what your car is worth years from now versus the day you bought it.
KBB tracks these sorts of things, and they’ve compiled a list of winners for 2013 models. On the brand level, Mazda and Lexus earn the 5-Year Cost to Own award for having the lowest overall projected five-year totals (though, curiously, we note that Mazda and Lexus each had only one segment winner). There are lots of winners for all the various segments, so we’ll just pick out a few surprising ones to share and you can view the rest here.
Many vehicles that aren’t generally considered competitive in their segments still do well from a cost-to-own perspective. The Jeep Patriot, for instance, won the Compact SUV/Crossover segment, while the Mitsubishi Outlander scores for the midsize SUV/Crossover group. For hybrids, the Honda Insight costs the least over five years, while the admittedly small segment of pure electric vehicles is lead by the Chevrolet Volt. What’s the least expensive 2013 model year sports car to own? The Ford Mustang, while the Mustang GT also nabs honors in the High Performance Car segment. Like we said, you can check out the full list here, and even look any car that you’re interested in owning to see how much you can expect to pay after the sale.
Mazda and Lexus crowned with KBB 5-Year Cost To Own awards originally appeared on Autoblog on Tue, 12 Feb 2013 08:00:00 EST. Please see our terms for use of feeds.