Everyone focuses on the cost to buy new or used cars, however, very few take the time to consider the True Cost of Ownership.
This is an excellent, albeit confusing, method of calculating how much it should cost to own a specific vehicle.
I’ve broken down one calculation method as simple as possible with ten great examples. Key items to consider…
- Vehicle expenses are for a five year time frame
- 15,000 miles per year
- Vehicles are financed, not leased
- 10% of sales price down
- Highest credit tier
- 60 month loan term
- Average demographic, within their state, for insurance premiums
Honda Civic | Total Cost To Own: $34,325
- 1.8L I4, 16 valves
- 5 speed manual transmission
- 26 mpg city / 34 mpg hwy
Honda Fit | Total Cost To Own: $31,905
Hyundai Accent | Total Cost To Own: $31,405
- 1.6L I4, 16 valves
- 5 speed manual transmission
- 27 mpg city / 32 mpg hwy
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Chevy Aveo | Total Cost To Own: $34,576
- 1.6L I4, 16 valves
- 5 speed manual transmission
- 24 mpg city / 34 mpg hwy
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Toyota Yaris | Total Cost To Own: $32,194
- 1.5L I4, 16 valves
- 5 speed manual transmission
- 29 mpg city / 36 mpg hwy
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Nissan Versa | Total Cost To Own: $31,770
- 1.8L I4, 16 valves
- 6 speed manual transmission
- 26 mpg city / 31 mpg hwy
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Scion xB | Total cost To Own: $35,821
- 2.4L I4, 16 valves
- 5 speed manual transmission
- 22 mpg city / 28 mpg hwy
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Scion xD | Total cost To Own: $33,117
- 1.8L I4, 16 valves
- 5 speed manual transmission
- 27 mpg city / 33 mpg hwy
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Mini Cooper | Total cost To Own: $32,729
Kio Rio | Total cost To Own: $32,656
- 1.6L I4, 16 valves
- 5 speed manual transmission
- 27 mpg city / 33 mpg hwy

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