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Top 10 Cheapest New Cars To Own

Posted in Chevrolet, Commuter Cars, Compact Cars, Gas Prices, General, Honda, Hyundai, Kia, Mazda, Nissan, Scion, Toyota by Geoff | August 24th, 2008 | 3 Responses |

Chevy Aveo
Chevy Aveo

This may have seemed like a no-brainer: The cheapest cars to own are the ones with the best gas mileage.  Right?  Not exactly.  Edmunds five year audit of the cost of ownership takes in to account many factors including intial cost of vehicle, depreciation, financing (based on a 60 month loan), taxes, fees, insurance, maintenance, repairs and yes, gas mileage; averaging 15,000 miles a year.  Hoping for a Mustang or Jeep to make the list was maybe a pipe dream.  But what about a Mini?  It gets great gas mileage.  But, as you may have guessed, the top 10 is mostly populated by a yawn inducing collection of cars.

Hyundai Accent
Hyundai Accent

It should be noted that Edmunds does not factor in any environmental impact or pollution statistics into the equation.  For instance, the top mpg car sold in America is the Prius, which ranks 33 on the list because its base price is $22,160 wich is almost double the Chevy Aveo, which ranks #1.  Also, Edmunds explains that gas prices are not the most important factor in calculating the costs of ownership.  The Aveo would hold the No. 1 spot even if gasoline should go to $6 per gallon.  Again, almost entirely because of its inexpensive intial cost.  In fairness, my previously derogatory remarks aside, there are a couple of models on this list that aren’t completely hideous in my mind.  (I’d rather not say which.  I have my reputation to protect.)

Honda Fit
Honda Fit

Here are the Top 10 least expensive cars to own over a five-year period, according to Edmunds’ True Cost To Own scale. (Cost-per-mile is in parentheses):

1.) Chevy Aveo5 Special Value hatchback ($0.42)
2.) Hyundai Accent GS 2-door hatchback ($0.43)
3.) Honda Fit 4-door hatchback ($0.44)
4.) Toyota Yaris 2-door hatchback ($0.44)
5.) Honda Civic DX 4-door sedan ($0.45)
6.) Nissan Versa 4-door hatchback ($0.45)
7.) Mazda3 4-door sedan ($0.46)
8.) Kia Rio 4-door sedan ($0.46)
9.) Scion xB 4-door wagon ($0.46)
10.) Toyota Corolla CE 4-door sedan ($0.46)

In the aftermath of Suzanne’s series of posts about which vehicle gives you a better chance to “get some,” (I’m keeping it clean), it is obvious from the responses from readers that what is most “attractive” to both sexes is intelligence.  If nothing else, buying one of these cars makes economic sense.

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3 Responses

  1. The GEO Metro or its under-the-skin twin made by Suzuki (GM rebadged the car for GEO) are really the hands-down winners. Suzuki called it the “Swift” which was a bit of misnomer but sounds good, eh?

    Of course, GM in its less than prescient thinking, decided to quit importing the Metro; from Canada, where it was made in Ontario, if memory serves. Additionally, it was really nothing more on GM’s part but a sop to pass the CAFE standards, as well as offer CARB (California Air Resources Board) something, so that organization wouldn’t ban the General from selling cars before it debuted the EV-1 (yes, the same electric car which starred in that documentary film, “Who killed the electric car?”).

    The GEO Metro could be ordered with a 1 liter, three cylinder engine. A friend of mine who is a machinist and worked for Boeing in the Seattle area, during most of the Nineties, used a GEO Metro to drive to work, on second and third shifts, when running a three cylinder engine on the freeway was not akin to taking your life into your hands (thanks to those who think freeways are NASCAR tracks). We were talking about the new “cool” car in Seattle the other night – the GEO Metro convertible, sometime seen with body mod kit and hard boot over the soft top, when said top is down. He said, “Getting 40 mpg is easy.”

    Maintenance, for those who are still willing to work on their own car, is something one doesn’t have to be a machinist to perform.

    Of course, you won’t see this car on the Edmunds site, since they’re in the business of moving new cars. Someone should start a used car lot with nothing but Metros and Swifts on it. Of course, now most owners of decent ones don’t want to part with them, and at the dealer auctions, they probably pull a premium; thus hurting the potential for profit at the retail level.

  2. Robin says:

    I have a 2006 Chevy Aveo and love it. It does exactly what I bought it for – run around town and go to work. In Feb, 2007 we took a trip to Yellowstone from Arkansas and had no trouble. Plenty of space, lots of leg room and great gas milage. Best of all, when this car was brand new, on the show room floor, the price was $8,600 Thats with air and automatic transmission. So we paid cash – No car note. Now that the car is 3 1/2 years old, I can’t part with it. I just can’t see taking on a car note when I have a perfectly good car.

  3. lol says:

    lolololololololo scrub!!!!