Top 10 Cheapest New Cars To Own

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

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

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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