Which Cars Are Cheapest To Own Over Five Years?

If you are considering a new car purchase (you should be thinking used, though, to save the most money), Edmunds has a complete list of the cars with the lowest total cost of ownership over 5 years. Taking into account depreciation, interest on financing, taxes and fees, insurance premiums, fuel, maintenance and repairs, which cars make the grade and should be on your “maybe” list?

Cars under $15,000:
Chevy Aveo
Kia Rio

Cars under $20,000:
Honda Fit
Ford Focus
Toyota Yaris

Cars under $25,000:
Toyota Prius
Volkswagen Beetle
Jeep Compass

Cars under $30,000:
Toyota Camry Hybrid
Subaru Legacy
Honda Accord

They do have cars that go above and beyond the $30,000 mark, but if you are buying a car that expensive, you might not be worried about how much it costs to own…after all, you are spending over $30,000 on a new car! The payments on that for 72 months would be well over $500 per month, so you can probably afford it. Surprisingly, the Honda Civic is not on this list, as I thought that was an incredibly well-priced and solidly built car. Shows you what I know! Anyways, if you are thinking of buying a new car, you might want to check out their entire list and the reasons why different cars made the cut.

“A flexible loan is ideal if money sometimes gets tight. A short term loan or even payday loan can help if a repayment holiday is not available and your loan requires regular repayments.”

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