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?
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.