IRVINE, Calif. — Kelley Blue Book has announced the winners of its annual 5-Year Cost to Own Awards. The awards look at a vehicle’s depreciation, fuel costs, finance and insurance fees, maintenance and repair costs, and state fees to find its winners.
Taking into account all of those factors, Hyundai and Acura took the top honors, winning the Best Brand and Best Luxury Brand awards respectively.
"New-car shoppers usually pay a lot of attention to how much a car will cost upfront; however, sometimes an even more expensive car on the front end can actually save you money during the first five years of ownership by having low total ownership costs," said Dan Ingle, vice president of vehicle valuations, industry solutions and international for Kelley Blue Book. "Kelley Blue Book's Five-Year Cost to Own information evaluates the other out-of-pocket expenses drivers will incur beyond the initial purchase price, which helps consumers choose the vehicle that best fits their needs and their long-term budget, helping save money down the road."
Hyundai took the award because it had a low Kelley Blue Book Fair Purcahse Price as well as low maintenance and repair costs across its full model lineup. Additionally, it had mid-range depreciation and insurance costs.
Acura placed first for luxury brands because it has the lowest average Kelley Blue Book Fair Purchase Price, depreciation and fuel costs of any luxury brand. It also ranks competitively in insurance and maintenance costs.
The rest of the winners can be found on Kelley Blue Books awards page.
Originally posted on F&I and Showroom