The Cheapest Car to Own? KBB 2012 Total Cost of Ownership Awards

Most new car purchasers are concerned mostly with the out-of-the-door price of the vehicle in making the purchase decision, but a more important factor to consider could be the cost to own it long-term.

 

To help customers to figure out the “total cost of ownership” of a vehicle, Kelley Blue Book (KBB) came up with a formula to calculate how much it costs to own for the first five years. The calculation draws data from eight different categories, including fuel, insurance, state fees, maintenance, repairs, depreciation, and insurance.

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At the 2012 Chicago Auto Show, KBB presented this year’s Total Cost of Ownership Awards. Kia and Audi took the honor of being selected as the best brand and best luxury brand, respectively. There are 21 other awards went to individual segments.

 

Check out the following slides to find out more about cars that costs least to own.

 

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Kelley Blue Book Total Cost of Ownership Award

The 2012 Total Cost of Ownership named Kia as the best overall brand. The relatively new and unknown automaker from Korea has made progress steadily over the years. Some of the popular models from Kia’s lineup include subcompact car Rio, box car Soul (winner of the compact car category), med-sized Optima, and CUV Sportage.

Among luxury brands, Audi took the honor of being selected as overall luxury brand winner of KBB’s 2012 Total Cost of Ownership Award. Audi also had two of its models receiving the honor in individual categories, including the 2012 Audi A5 among luxury car and 2012 Audi Q7 among luxury sport utility.

5-Year Ownership Cost: $29,252
MSRP: Starting at $10,990

2012 Nissan Versa beat its close rival Toyota Yaris by $38, claiming the award in the subcompact category. The newly designed model not only gives one of the roomiest cars among its competitors, but also gives the best fuel efficiency and good residual value.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $38,476
MSRP: Starting at $ $19,795

Sonata is Hyundai’s best-selling model, and there is a good reason why. The stylish design, one of the best warranty programs (ten-year/100,000-mile powertrain) in today’s market, and an affordable cost – both to buy and to own – would make the customers choose the 2012 Sonata over its competitors. While it is more expensive to purchase than the 2012 Kia Optima, KBB named 2012 Hyundai Sonata to be the cheapest vehicle to own for the initial 5-years among mid-sized cars.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $47,957
MSRP: Starting at $25,760

The 2012 Chevy Impala is classic American full-size car with roomy interior and large cabin space. Its relatively inexpensive purchase price, low depreciation numbers, and a descent fuel economy allowed 2012 Impala to stay ahead of Ford Taurus in claiming the title among the full-size car category.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $42,602
MSRP: Starting at $23,470

If you are looking a sports car that is affordable to buy and maintain, the 2012 Mazda MX-5 Miata may be the right choice. As one of the most popular two-seaters in the world, the owner would pay $4,200 less over the course of five years than the second-place winner Hyundai Genesis Coupe.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $42,367
MSRP: Starting at $24,950

Among entry-level luxury cars, 2012 Volvo C30 took the honor of costing the least to own. The Swedish hatchback has one of the lowest purchase price and low depreciation figure, suitable for someone who wants to buy their first luxury car.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $56,908
MSRP: Starting at $37,100

The 2012 Audi A5 topped Volvo S80 by nearly $5,000 in terms of the total cost to own for the first five years. The elegant two-door luxury car, available in both coupe and convertible, has a superior resale value and best insurance costs among its equals. Although it is not the cheapest to purchase, the owner will get its worth in few years.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $90,234
MSRP: Starting at $67,630

The 2012 Lexus LS will not only save the buyer money at the time of the purchase, but it will save significant amount by the end of five years with its low insurance and maintenance cost along with the lowest depreciation among high-end luxury cars. With a gap of $15,000 total ownership cost for five years between the LS and BMW 7 Series, the Lexus could be a competitive alternative to German automakers such as Mercedes-Benz or BMW.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $77,140
MSRP: Starting at $61,300

Lexus put another of its model among KBB’s Total Cost of Ownership Awards, its 2012 IS F winning the high-performance car category. Lowest purchase price, good resale value, and efficient fuel economy earned Lexus IS F the honor.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $36,627
MSRP: Starting at $19,990

While the 2012 Nissan Juke may cost a little more at first than a Hyundai Tucson, its fuel economy and cheaper insurance cost could save the owner at the end of five-year period. Not only its design is unique, its cost would be affordable to own and maintain.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $42,628
MSRP: Starting at $23,225

The 2012 Hyundai Santa Fe features roomy interior and a lot of latest technology options. Additionally, it has a low long-term depreciation, low maintenance, and low insurance costs, making it the cheapest to own for five years among crossover category.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $52,217
MSRP: Starting at $39,075

Lexus’ best-seller RX 350 took the first place of the KBB’s Total Cost of Ownership Awards among luxury crossovers, outpacing Volvo XC60. Although the RX 350’s purchase price is a little higher than the Volvo, its retain value and low overall repair costs would save at the end of five years.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $41,764
MSRP: Starting at $22,045

The 2012 Jeep Wrangler does not only live up to its reputation as a powerful off-the-road vehicle, it is also a long-term money-saver. Its low insurance costs, maintenance costs, and good fuel economy earned No. 1 spot among mid-sized sport utility, beating Toyota FJ Cruiser.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $63,562
MSRP: Starting at $37,600

Among full-size sport utilities, the 2012 Ford Expedition took the honor of the KBB’s Total Cost of Ownership Award. It is the cheapest to buy, has low depreciation numbers, and costs the least to maintain.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $67,630
MSRP: Starting at $46,250

Audi took home another award with its 2012 Q7 winning the KBB’s Total Cost of Ownership Award in the luxury sport utility category. While the Infinity QX56 had better maintenance and repair costs, Audi Q7 topped overall cost by having lower purchase price, best residual value, and more efficient fuel economy.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $36,655
MSRP: Starting at $16,875

The 2012 Toyota Tacoma took the honor in the mid-size pickup truck category of this year’s Total Cost of Ownership Award by KBB. The best-selling Tacoma had low purchase price, good residual value, and slight savings in fuel costs, maintenance, and repair.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $49,371
MSRP: Starting at $22,195

The debate between what is the world’s “longest-lasting, most dependable” truck from the controversial Silverado’s Super bowl Commercial may still go on between GM and Ford, but KBB named the 2012 Chevrolet Silverado as the winner of Total Cost of Ownership Award in the full-size pickup truck category.

A close second place went to its corporate cousin GMC Sierra 1500 Regular Cab, costing only $157 over the five-year period.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $37,480
MSRP: Starting at $19,625

It is debatable whether the 6-passenger Mazda5 falls under a minivan category or not, but it surely is much cheaper to buy and maintain than other minivans. The 2012 Mazda5 topped its closest runner-up Dodge Grand Caravan by over $2,000 in fuel costs and $1,000 in purchase price.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $32,884
MSRP: Starting at $18,350

Among hybrid cars, Honda took the award home with its 2012 Insight. The newly designed model with better aerodynamics gives an even better EPA rating than its previous model. In addition, its low purchase price and low depreciation brought Insight to the top in the hybrid category this year.

The American Council for an Energy-Efficient Economy (ACEEE) also included 2012 Insight as No. 5 on their top 12 “Greenest List” of this year.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $45,051
MSRP: Starting at $21,440

2012 Ford Escape Hybrid was named the cheapest car to own among the hybrid utility category, with more than $6,000 gap between runner-up Toyota Highlander Hybrid. While Highlander had advantage in terms of depreciation and repair costs, Escape had lower costs on all the other evaluation category.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.

5-Year Ownership Cost: $40,629
MSRP: Starting at $31,645

The 2012 Chevrolet Volt received the KBB’s Total Cost of Ownership Award among electric cars, followed by Nissan LEAF. LEAF had lower purchase price, lower depreciation number, cheaper fuel cost, and cheaper state fees, but Volt did better in the areas of maintenance and insurance to top LEAF.

The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation.