15 Cheapest Cars To Own

Smart shoppers need to look beyond a car’s sticker price to get the best long-term deal.

Fiat 124 Lead

Jim Gorzelany

By: Jim Gorzelany

Jul 5, 2017 at 3:00pm ET

Add Motor1.com as a preferred source in Google

While most new car shoppers tend to focus on the out-the-door transaction price or perhaps even a vehicle’s monthly payment, consumers with an eye on the bottom line should consider the full range of ownership costs to save the most money over time.

The most important costs to track include a model’s depreciation, fuel costs, and insurance premiums, and to a lesser degree the cost of financing, projected maintenance and repair expenses, and state and local registration and fees.

Check Out:

10 Cheapest Vehicles To Maintain And Repair

10 Most Expensive Vehicles To Maintain And Repair

That’s a lot of numbers to run down, but fortunately the experts at the auto-industry research firm Vincentric have already done the legwork, identifying the cars and trucks that can be expected to deliver the lowest five-year ownership costs in their respective vehicle segments. We’re featuring the cheapest-to-own cars here, with pickup trucks, SUVs and minivans, and hybrid and electric cars featured in separate posts. Vincentric’s breakdowns of ownership costs for all makes and models are included with the full range of new-vehicle pricing data posted online at NADAguides.com.

The biggest variable here is a car or truck’s depreciation, which is the difference between its original sticker price and what it can be expected to be worth down the road. All of the models cited here for low ownership costs have among the lowest rates of depreciation in their respective classes. And be aware that this factor becomes increasingly important among higher-cost models, simply because there’s more money at stake. For example, a five percent difference in depreciation after five years on a $30,000 car amounts to $1,500, while the same spread with a $70,000 model is $3,500.

More Vehicles With Low Ownership Costs:

The Cheapest All-Wheel-Drive Cars You Can Buy Today

Though fuel remains reasonably affordable, even nominal savings at the pump can still add up to a significant chunk of cash over time. For example, the difference in fuel costs between a vehicle that’s rated at a combined city/highway 25 mpg and another at 35 mpg, with both driven 15,000 miles annually, adds up to $2,031 over five years with gas at $2.37 a gallon.

Always check in advance what you’ll pay for insurance on all models you’re considering, and shop around among major carriers to find the lowest rates. While premiums are based largely on a policyholder's age, marital status, address, and driving record, some vehicles, particularly family-minded minivans and SUVs, are inherently cheaper to insure than others – often by several hundred dollars or more per year – based on their claims histories. As it stands the difference between the least- and most-expensive new vehicles to insure is close to $3,000 per year.

We're featuring the 15 cheapest-to-own cars for 2017, based on Vincentric’s annual Lowest Cost To Own In America awards, in the accompanying slideshow.

Gallery: Cheapest Cars To Own

1. Subcompact Hatchback: Mitsubishi Mirage.

2. Compact Car: Toyota Corolla iM. 3. Midsize Car: Subaru Legacy. 4. Large Car: Ford Taurus. 5. Sports Car: Fiat 124 Spider. 6. Hybrid Car: Toyota Prius C. 7. Electric/Plug-In Hybrid Car: Mitsubishi i-MiEV.

We want your opinion!

What would you like to see on Motor1.com?

Take our 3 minute survey.

- The Motor1.com Team

Share this Story

Got a tip for us? Email: tips@motor1.com

Popular

Driven: The Revuelto SV Is All Bull, No BS

Toyota's Next Mid-Engined Coupe Is Going Racing This Weekend

Alfa Romeo Has Had It With Huge Screens

Subaru Teases A New Manual WRX, But Only For Japan