Narrowing down one’s choices to the models having the lowest long-term ownership costs would ordinarily involve a great deal of research. Fortunately the valuation experts at Kelley Blue Book have just issued their annual 5-Year Cost to Own Awards that identify the cheapest rides to own in each of 22 separate vehicle categories. We’re featuring each of the category winners below.
KBB says the cheapest-to-own vehicle overall for 2021 is the subcompact Hyundai Venue crossover SUV, which is estimated to cost an owner $29,145 over five years. Which are the most significant long-term ownership costs to consider? Inarguably the most important factor is depreciation, or how well a given model holds its value over time, based on a variety of economic factors and historical data. Choosing a vehicle that returns more value at trade-in time than the norm allows an owner to pocket more cash by selling it outright, or have a larger down payment to make on a subsequent purchase.
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