- Posted April 7, 2014 by
Low cost cars to look at
Looking at the sticker price on a new car doesn’t always tell the whole story of how much it is going to cost to own a vehicle. Cars have numerous costs associated with them, including fuel, insurance, financing, repairs and depreciation. Kelley Blue Book recently released its 2014 Best 5-year Cost to Own Awards which details the vehicles they found to be the cheapest to own.
In the fast growing subcompact category, the Chevrolet Spark won out, with a very low $26,551 five year ownership cost. The Spark is projected to depreciate less than the average subcompact by nearly 10 percent, and its simple design and low price mean it will also be cheaper to finance, insure and repair.
For the compact car class, the Toyota Corolla was the top pick, with a low $30,571 ownership cost over five years. This Toyota model’s reputation for reliability and fuel efficiency help it achieve low depreciation rates, as it continues to be the bestselling car in its class. With mpg ratings of 30 city and 42 highway on eco models, it’s easy to see why the car is so popular.
To view the entire list of winners of the cost to own awards, head over to http://www.kbb.com/new-cars/5-year-cost-to-own-awards/. And for deals on late model used Corollas, take a look at http://www.enterprisecarsales.com/toyota/corolla to find your next car.