With car sales booming, there's new advice about which vehicles have the best total ownership costs.
Consumer Reports has new numbers detailing the real deals to own. The 2 hands down winners based on total 5-year ownership costs are the Toyota Prius and the Honda Fit.
Different cars cost different amounts to operate per mile. The average car costs more than 60 cents per mile. Some luxury cars cost around that average, while other luxury rides are 3 times the average cost per mile!
By comparison, the Prius and Fit cost 40 some odd cents per mile to own and operate.
So which other cars are relative deals too on ownership costs over 5 years?
- Compact cars: Scion xB, VW Golf, Toyota Corolla, Honda Civic, Subaru Impreza
- Midsize: Subaru Legacy, Mazda 6 and Honda Accord (4 cylinder)
- SUVs: Subaru Forester and Honda CR-V
- Minivans: Mazda 5
The full list available is available in Consumer Reports. The stunner is which vehicles are terrible to own. The Ford F-250 has a cost per mile of $1.16. That's serious cash. If you drive 15,000 miles a year, you're talking almost $17,000 a year to own and operate that vehicle!
For further reading:
- The Clark Smart steps for buying a new car
- Best auto insurance companies
- New survey of the most reliable cars