Average prices for new vehicles have reached record highs in recent months, but the number buyers write on the check at the dealership is only the beginning of the story.
New car transaction prices have reached record highs.
(Jacek Bozarski/Anadolu Agency via Getty Images)
While commercial customers are very tuned into the idea of total cost of ownership, many retail shoppers don’t fully account for how much they’ll have to spend on insurance, fuel and maintenance during the time they own their vehicle.
The value at the end of a loan term also plays a major role in getting the most bang for the buck.
Kelly Blue Book has taken all of this into account and rounded up the top models for each vehicle type and size class.
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The automotive research and valuation firm also picked Toyota and Lexus as the best brands overall for cost to own thanks to their reliability and competitive up front pricing, but the individual winners, what they cost to own over five years and how much they’ll save over the segment competition are as follows:
CARS:
Compact:
The Toyota Corolla is available in a range of models.
(Toyota)
Toyota Corolla ($31,464/-$2,323)
Midsize:
Honda Accord ($38,713/-$893)
Full-size:
Toyota Avalon ($51,123/-3,570)
Sports:
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Subaru BRZ (40,397/-21,739)
Entry-level Luxury:
Acura ILX ($41,192/-$14,684)
Luxury:
Volvo S90 ($67,365/-$16,145)
SUVs:
Subcompact:
Hyundai Venue ($30,555/-$6,982)
Compact:
Subaru Forester ($39,473/-$1,957)
Midsize:
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Subaru Outback ($43,973/-$6,730)
Three-row:
Subaru Ascent ($48,383/-$-4,121)
Full-size:
Nissan Armada ($69,416/-$6,822)
Off-road:
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Ford Bronco ($47,961/-$3,059)
Subcompact Luxury:
Lexus UX ($46,424/-$3,224)
Compact Luxury:
Lexus NX ($51,227/-$6,219)
Two-row Midsize Luxury:
Lexus RX ($62,099/-$12,156)
Three-row Midsize Luxury:
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Lexus LX ($88,956/-$12,698)
Pickups:
Midsize Pickup:
Ford Ranger ($40,267/-$3,321)
Full-size Pickup:
Toyota Tundra ($47,679/-$4,669)
Hybrid:
Toyota Corolla Hybrid ($31,231/-$10,303)
Electric:
Nissan Leaf ($34,134/-$13,258)
Electric Luxury:
Tesla Model 3 ($48,233/-$16,411)
Minivan:
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Toyota Sienna ($44,376/-$5,354)
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