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Least Expensive Vehicles to Own

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Filed: Country: Philippines
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The cost of owning a vehicle goes beyond the purchase price. Expenses like insurance and maintenance can add up.

To attain absolute rock bottom ownership costs — which still tally more than $30,000 over five years, even for a $10,000 car — a vehicle must be spartan. It must be small and lightweight to maximize fuel economy. And it should skimp on features, so that maintenance and repair costs stay low.

But most of all, it must start life with a sticker price well below even the most affordable luxury cars. A low purchase price holds down insurance premiums, taxes and fees, financing costs, and, especially, depreciation.

That’s why the priciest car on our list of the Top 10 Least Expensive Cars to Own is the tenth ranked Honda Civic DX, which starts at just $15,010.

Our ranking is based on data from Vincentric, a Bloomfield Hills, Mich.-based research company specializing in automotive cost analysis. Vincentric calculates five-year ownership expenses by estimating cumulative losses from depreciation, interest and opportunity costs, maintenance and repairs, taxes and fees, fuel, and insurance. See the end of this story for an explanation of each expense.

The vehicles on our list are relatively inexpensive, but their value is rising in the current economy, especially as gasoline prices climb. Autodata, which tracks sales for the auto industry, reports that overall vehicle sales dropped 8 percent in the first quarter of 2008. But the small-car segment actually grew by 3 percent during that down period.

If small-car demand continues to grow, ownership costs could decrease even more: Higher prices for economical used cars will keep new-vehicle depreciation in check.

“It's always a matter of supply and demand,” says David Wurster, Vincentric's president. “As people want more of these vehicles, they vote up their price.”

A good resale value is critical to total ownership cost because depreciation is the greatest single part of the total. Cars with lower depreciation rates (higher resale values) will require lower total ownership expenses than peers in the same price group or model segment. Six models on our list incur higher fuel expenses, but only because depreciation takes fewer dollars from budget-priced cars to begin with.

“Depreciation is the one cost that most people forget about,” says John Paul, manager of public affairs for AAA of Southern New England. “They look at all the other costs, but they forget how much a car is going to depreciate, even over the first year.”

To gauge deprecation rates when shopping for a new car, Paul suggests researching used-car prices for models on your list. Comparing used prices to the prices of new models shows approximately how much each vehicle depreciates.

“Sometimes the cheapest car isn't always the best deal, especially when it comes time to trade it in,” Paul says.

A company’s reputation can also indicate how well a vehicle holds its value.

“The vehicles with very good reputations for quality are going to continue to do best,” Vincentric’s Wurster says. “That's why you see Toyotas and Hondas doing well year after year. They have good reputations.”

Indeed, the two Hondas on our list depreciate much less than most other models in the top 10. The Honda Fit makes the No. 2 spot on the strength of its low, 58 percent depreciation rate over five years. With a 62 percent depreciation rate, the Honda Civic DX sneaks onto the list at No. 10, even though it has a high starting price compared to other models in the ranking.

That's not accidental. Recognizing the allure of low depreciation, Honda pursues a strategy aimed at maintaining high resale rates.

“It's a very long-term outlook of protecting the brand by protecting resale value,” says Honda spokesperson Chris Naughton.

The pillars of that program include striving for high quality and durability so its models will remain desirable even after they rack up lots of miles. Honda avoids building more cars than it can sell and adjusts its factory output to match consumer demand, Naughton says. It also avoids selling to car-rental and commercial fleets. Both strategies prevent over-supplying the market, which depresses used-car prices. Balancing supply with demand also negates the need for sales incentives, which reduce used-car values by reducing new-car values.

“We avoid at all costs being put in the position of stress merchandising,” Naughton says.

Korean automakers Hyundai and Kia each have one vehicle in the ranking — the Hyundai Accent places fifth and the Kia Rio seventh. But the brands aren’t as well regarded as Honda or Toyota, which likely contributes to their high depreciation rates — 77 percent for the Accent and 78 percent for the Rio.

Another Korean-made vehicle, the American-branded Chevrolet Aveo5, made the third spot on the list and also has a high depreciation rate, at 73 percent. The Dodge Caliber SE, in sixth place, and Chevrolet Cobalt LS, in eighth, are the only other domestic models in the ranking.

Five of the least-expensive-to-own vehicles hail from Japan, including the top-ranked Toyota Yaris Liftback, which carries a five-year predicted cost of ownership of $30,820.

Models with attractive low depreciation rates exist in all vehicle categories. But if being frugal takes priority above all other automotive concerns, consider one of the 10 vehicles on this list. In the slideshow you’ll find individual model descriptions along with Vincentric’s projected total cost of ownership after five years, including a breakdown of the six components that make up that total.

All are 2008 base models. The manufacturer suggested retail price (MSRP) and ownership costs shown with each model apply only to the most basic version of the vehicle. That usually means it has a five-speed manual transmission. If you add equipment or move up trim levels, ownership costs typically increase accordingly.

Cost estimates are based on prices from March 2008. Interest expenses assume a five- year loan at current rates, with a 15 percent down payment. Opportunity costs consider what owners would have earned if car expenses were placed into certificates of deposit instead. Insurance costs are for a typical driver under age 65 with a clean record. Depreciation assumes the vehicle is disposed of in a private party transaction. To compute fuel costs, Vincentric used a five-month weighted pump-price average. Each model's five-year cost of fuel is calculated by using EPA fuel-economy ratings as published in the agency's 2008 Fuel Economy Guide.

http://autos.yahoo.com/articles/autos_cont...nNpdmUtdG8tb3du

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Filed: Citizen (apr) Country: Canada
Timeline

I am thinking Honda next time


K-1 journey, AOS/EAD and ROC in my timeline

2011 March 31 - Sent off Naturalization pkg overnight to Texas

2011 April 1 - Arrived in Texas at 10:21 am

2011 April 1 - NOA (rec'd via snail mail April 8)

2011 April 7 - Cheque cashed

2011 May 5 - Biometrics (letter rec'd via snail mail April 15)

2011 May 9 - Placed in line for interview scheduling

2011 June 13 - Rec'd yellow letter (no change in status online)

2011 June 23 - Rec'd text that my case has been scheduled for interview

2011 August 1 - Interview (rec'd via snail mail June 27) PASSED

2011 August 3 - Rec'd email that my case has been scheduled for Oath

2011 September 1 - Oath ceremony (rec'd snail mail Aug 5)

2011 September 1 - All done, yeah.

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Filed: Country: Philippines
Timeline
I am thinking Honda next time

Although it didn't make it on the list, if I had my choice for a new car, I'd pick the Toyota Corolla...it's fairly cheap, great gas mileage, and extremely reliable.

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Filed: AOS (apr) Country: Brazil
Timeline

Hummer didn't make the list?


12-14-07 Sent K-1 petition

12-17-07 Received NOA1

01-06-08 Got engaged!!!

02-21-08 NOA2 Approved

02-27-08 NVC processed petition

02-28-08 Received NOA2 in mail

03-03-08 Consulate in Rio de Janeiro received petition

03-21-08 Received packet for interview

04-22-08 Visa Interview and Visa APPROVED!

05-06-08 Visa received in mail

07-28-08 Wedding Date (Reception was 26th, but forgot to reigster for MC...oops)

10-04-08 Applied for AOS (EAD and AP also)

10-09-08 NOA1 for I-485

10-27-08 I-485 transferred to CSC

11-04-08 I-485 Biometrics appointment

11-13-08 NOA1 for EAD

12-09-08 EAD Biometrics appointment

01-08-09 AP Approved

01-13-09 AP Received

Cost of 3 roundtrip tickets to Brazil in last 3 years...... $2,900+

Cost of filing petitions for K-1 visa & AOS.................... $1,465+

Cost of monthly calling cards to Brazil........................$20

Cost of marrying the woman of my dreams.... PRICELESS

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Filed: K-1 Visa Country: Scotland
Timeline

Been wondering lately if anyone's got a moped or motorcycle or knows much about them? I think a moped would be fun as heck and get like 80 mpgallon on them or something, heck yeh :P Of course can't go too far with it but still the awesomeness.

I want a mini.


Summer 2001 - met my Scottish boy

December 18th, 2007 - proposal in Madrid's Botanical Gardens with a duck standing behind him going 'food?'

January 18th, 2008 - I-129F sent to VSC

January 31st, 2008 - received NOA1, issued Jan. 24 :)

February 24th, 2008 - NOA2; omgwtfbbqlolz

February 29th, 2008 - NVC letter sent

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Filed: Country: Philippines
Timeline
Hummer didn't make the list?

It came in at number 472.

Been wondering lately if anyone's got a moped or motorcycle or knows much about them? I think a moped would be fun as heck and get like 80 mpgallon on them or something, heck yeh :P Of course can't go too far with it but still the awesomeness.

I want a mini.

I've looked at the moped and scooter prices....the higher end ones run over $8,000! At that point, might as well buy a car.

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Filed: Citizen (apr) Country: Canada
Timeline

Well I would have bought a Hummer if it came in 470 but since it is 472 there in NO way

:lol:


K-1 journey, AOS/EAD and ROC in my timeline

2011 March 31 - Sent off Naturalization pkg overnight to Texas

2011 April 1 - Arrived in Texas at 10:21 am

2011 April 1 - NOA (rec'd via snail mail April 8)

2011 April 7 - Cheque cashed

2011 May 5 - Biometrics (letter rec'd via snail mail April 15)

2011 May 9 - Placed in line for interview scheduling

2011 June 13 - Rec'd yellow letter (no change in status online)

2011 June 23 - Rec'd text that my case has been scheduled for interview

2011 August 1 - Interview (rec'd via snail mail June 27) PASSED

2011 August 3 - Rec'd email that my case has been scheduled for Oath

2011 September 1 - Oath ceremony (rec'd snail mail Aug 5)

2011 September 1 - All done, yeah.

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Filed: Country: Belarus
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I am thinking Honda next time

Good choice. When the Mrs got here in 2004 we bought a 2004 Honda Civic Value Package. It came standard with everything you need. Crank windows, manual door locks, cheapo AM/FM single CD player, air conditioning, auto tranny, 4 doors, plenty of room. It will hit I-10 at the legal speed limit of 75 mph in west Texas easily. It will run with the big dogs. It gets 36-37 mpg highway and about 30 mpg in the city. I love it. A great value. Who needs leather seats and the high priced bells and whistles. Same great car without the high priced amenities.

One gripe was that it didn't come from the factory with cruise control, but I installed an aftermarket electronic cruise control myself and it works and looks great.

The other gripe I have is that there is no detent on the auto tranny shifter between D (normal 4 speed drive) and D3 (3 speed drive without overdrive) . You have to be careful to make sure you don't accidently shift to D3 instead of D. Most cars with auto trannys make you push a detent button to get to D3. The Civic doesn't. No big deal, but you won't get the best mileage at highway speeds in D3.

In 2004 we drove it off the lot for $14,713.44 and 2.9% interest on a 36 month loan. We just paid it off this month. I plan on keeping it 'till it dies. It will go 8-10 years and 150,000+ miles easily if it doesn't get wrecked or stolen.

On a side note, we had a 1999 Toyata Corolla CE until my stepdaughter totaled it in a confrontation with a tree. Same mileage as the Honda Civic and a great car to own new or used. I don't know about the new ones, but the 1999 was built like a tank, reliable, and easy to work on.


"Credibility in immigration policy can be summed up in one sentence: Those who should get in, get in; those who should be kept out, are kept out; and those who should not be here will be required to leave."

"...for the system to be credible, people actually have to be deported at the end of the process."

US Congresswoman Barbara Jordan (D-TX)

Testimony to the House Immigration Subcommittee, February 24, 1995

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Filed: Citizen (apr) Country: Canada
Timeline

Many years ago and the first car I really learned to drive a stick shift was a Toyota Corolla and it was a great car. Sorry to hear about the tree jumping in front of your stepdaughter :yes:


K-1 journey, AOS/EAD and ROC in my timeline

2011 March 31 - Sent off Naturalization pkg overnight to Texas

2011 April 1 - Arrived in Texas at 10:21 am

2011 April 1 - NOA (rec'd via snail mail April 8)

2011 April 7 - Cheque cashed

2011 May 5 - Biometrics (letter rec'd via snail mail April 15)

2011 May 9 - Placed in line for interview scheduling

2011 June 13 - Rec'd yellow letter (no change in status online)

2011 June 23 - Rec'd text that my case has been scheduled for interview

2011 August 1 - Interview (rec'd via snail mail June 27) PASSED

2011 August 3 - Rec'd email that my case has been scheduled for Oath

2011 September 1 - Oath ceremony (rec'd snail mail Aug 5)

2011 September 1 - All done, yeah.

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Filed: AOS (apr) Country: Canada
Timeline
I am thinking Honda next time

Good choice. When the Mrs got here in 2004 we bought a 2004 Honda Civic Value Package. It came standard with everything you need. Crank windows, manual door locks, cheapo AM/FM single CD player, air conditioning, auto tranny, 4 doors, plenty of room. It will hit I-10 at the legal speed limit of 75 mph in west Texas easily. It will run with the big dogs. It gets 36-37 mpg highway and about 30 mpg in the city. I love it. A great value. Who needs leather seats and the high priced bells and whistles. Same great car without the high priced amenities.

One gripe was that it didn't come from the factory with cruise control, but I installed an aftermarket electronic cruise control myself and it works and looks great.

The other gripe I have is that there is no detent on the auto tranny shifter between D (normal 4 speed drive) and D3 (3 speed drive without overdrive) . You have to be careful to make sure you don't accidently shift to D3 instead of D. Most cars with auto trannys make you push a detent button to get to D3. The Civic doesn't. No big deal, but you won't get the best mileage at highway speeds in D3.

In 2004 we drove it off the lot for $14,713.44 and 2.9% interest on a 36 month loan. We just paid it off this month. I plan on keeping it 'till it dies. It will go 8-10 years and 150,000+ miles easily if it doesn't get wrecked or stolen.

I currently drive a 1991 honda civic... it has 217300 miles right now (original engine) and since we bought it in October, we've had to put about $80 worth of parts into it and that's it... it gets 33 - 35 mpg... not especially fast but it gets me where i want to go... And i only paid $900 for it... (including taxes) My husband drives a 94 civic which also gets 35 mpg... good cheap to run cars...

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Filed: K-1 Visa Country: Scotland
Timeline

My first car which I got 7 years ago was a 1991 Toyota Corolla. I called it the can-opener. I think it was a pretty good little car...was older but didn't have too many miles on it. It's hard for me to compare because I've only ever driven it and a brand new VW bug, so yeh, unfair.

This car actually did have stalling problems. It would like...overheat, or something, I have no idea, if you pushed it too hard on the interstate (meaning with this vehicle going over 65). My dad would "idle it up" whatever the heck that means but it still did it.


Summer 2001 - met my Scottish boy

December 18th, 2007 - proposal in Madrid's Botanical Gardens with a duck standing behind him going 'food?'

January 18th, 2008 - I-129F sent to VSC

January 31st, 2008 - received NOA1, issued Jan. 24 :)

February 24th, 2008 - NOA2; omgwtfbbqlolz

February 29th, 2008 - NVC letter sent

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Filed: Lift. Cond. (apr) Country: China
Timeline

Li has never drove in her life. I'm thinkin' a $300 pickup truck... :lol:


  • 07/17/07 Returned from two months in China. All K1 documents 'in hand'.
  • 07/19/07 Completed preparation of I-129F & associated documentation. Mailed it.
  • 08/03/07 Received NOA1 from the CSC.
  • 12/13/07 Received NOA2 from the CSC.
  • 01/23/08 NVC sent our case to U.S. Consulate in Guangzhou China.
  • 03/31/08 U.S. Consulate in Guangzhou China received, issued case number.
  • 04/05/08 P3 received.
  • 04/06/08 P3 sent.
  • 05/01/08 P4 received.
  • 05/12/08 Flight to China.
  • 06/23/08 Interview at U.S. Consulate in Guangzhou China- PINK.
  • 06/25/08 K1 & K2 visas received.
  • 07/09/08 We all arrive in America, Chicago POE
  • 08/06/08 Fiancee receives SSN (req. for marriage in our state)
  • 08/08/08 Married
  • 09/01/08 Moved into new house. AR-11's filed for wife & son.
  • 09/19/08 AOS / EAD package mailed.
  • 09/25/08 AOS / EAD NOAs.
  • 10/02/08 Biometrics letters.
  • 10/16/08 Biometrics taken.
  • 10/17/08 Case transferred to CSC.
  • 12/08/08 EADs approved / EAD cards issued.
  • 03/05/09 AOS approved.
  • 03/12/09 Green Cards received.
  • 09/17/10 Application for Lifting Conditions Mailed.
  • 10/04/10 NOA1
  • 10/19/10 Biometrics Taken.
  • 01/07/11 Removal of Conditions Approved
  • 02/26/12 Still Happily Married & Doing Well

4983700_bodyshot_300x400.gif

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Filed: Citizen (pnd) Country: Mexico
Timeline

honda.. as people say.. just change the oil on time, and your honda will run forever.. true dat.. my folks still have a 1999 civic, and it runs perfectly.. i got my fit.. and also, very happy with it


El Presidente of VJ

regalame una sonrisita con sabor a viento

tu eres mi vitamina del pecho mi fibra

tu eres todo lo que me equilibra,

un balance, lo que me conplementa

un masajito con sabor a menta,

Deutsch: Du machst das richtig

Wohnen Heute

3678632315_87c29a1112_m.jpgdancing-bear.gif

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