When purchasing a vehicle, buyers would be wise to consider typical ownership costs to see the out-of-pocket expenses they will incur beyond the initial purchase price.
Kelley Blue Book took that into account in naming its 2019 5-Year Cost to Own Award winners, recognizing new vehicles with the lowest projected ownership costs.
Subaru and Lexus came out on top in the 5-Year-Cost-to-Own categories of brand, and luxury brand, respectively.
“Subaru’s key advantage is its high residual value, which lowers depreciation costs,” Eric Ibara, director of 5-Year Cost to Own for Kelley Blue Book, said in a news release. “Lexus offers consumers luxury vehicles at an affordable price and without expensive repairs down the road."
KBB’s 5-Year Cost to Own information considers factors such as depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees.
“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,” Ibara said. “Consumers could save money down the road by choosing a vehicle that best fits their needs and their long-term budget.”
Following are KBB’s 5-Year Cost to Own Awards by vehicle category:
Compact car: Kia Soul
Mid-size car: Honda Accord
Full-size car: Chevrolet Impala
Entry-level luxury car: Acura ILX
Luxury car: Lexus GS
Mid-size SUV/Crossover—3 row: Mitsubishi Outlander
Full-size SUV/Crossover: Nissan Armada
Luxury subcompact crossover: Nissan Armada
Luxury subcompact SUV/crossover: Lexus UX
Luxury compact SUV/Crossover: Lexus NX
Luxury mid-size SUV/Crossover—2 row: Lexus RX
Luxury mid-size SUV/Crossover—3 row: Infiniti QX60
Luxury full-size SUV/Crossover: Infiniti QX80
Off-road SUV/Crossover: Jeep Wrangler
Mid-size pickup truck: Toyota Tacoma
Full-size pickup truck: Toyota Tundra
Minivan: Honda Odyssey
Sports car: FIAT 124 Spider
Hybrid/alternative energy car: Toyota Prius c
Electric vehicle: Nissan LEAF
Subcompact SUV crossover: Mazda CX-3
Compact SUV crossover: Subaru Crosstrek
Mid-size SUV/Crossover, 2 row: Hyundai Santa Fe
(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).
For more information about the 2019 5-Year Cost to Own Award winners, go to https://www.kbb.com/new-cars/5-year-cost-to-own-awards/.