Are You Driving The Cheapest Car To Own?

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

• 1.5L I4, 16 valves
• 5 speed manual transmission
• 28 mpg city / 34 mpg hwy
• 

Hyundai Accent | Total Cost To Own: $31,405

• 1.6L I4, 16 valves
• 5 speed manual transmission
• 27 mpg city / 32 mpg hwy

Chevy Aveo | Total Cost To Own: $34,576

• 1.6L I4, 16 valves
• 5 speed manual transmission
• 24 mpg city / 34 mpg hwy

Toyota Yaris | Total Cost To Own: $32,194

• 1.5L I4, 16 valves
• 5 speed manual transmission
• 29 mpg city / 36 mpg hwy

Nissan Versa | Total Cost To Own: $31,770

• 1.8L I4, 16 valves
• 6 speed manual transmission
• 26 mpg city / 31 mpg hwy

Scion xB | Total cost To Own: $35,821

• 2.4L I4, 16 valves
• 5 speed manual transmission
• 22 mpg city / 28 mpg hwy

Scion xD | Total cost To Own: $33,117

• 1.8L I4, 16 valves
• 5 speed manual transmission
• 27 mpg city / 33 mpg hwy

Mini Cooper | Total cost To Own: $32,729

1.6L I4, 16 valves

6 speed manual transmission

28 mpg city / 37 mpg hwy

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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