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Top 10 Least Expensive Vehicles to Own
Do Not just think about Sticker Price Shock, Think about Replace Parts SHOCK!
The lower the starting price, the less expensive a car ends up being to own and maintain over time, despite the fact that low-end models tend to depreciate at a higher rate than luxury vehicles. But you also have to keep in mind the cost of replacement part, which is higher at Toyota and Honda dealers.
1. Ford Focus with Ford’s ‘Sync’
Average starting MSRP: $15,752
The Focus is the only vehicle in this ranking with a non-Asian origin — the second-ranked Aveo comes to Chevrolet via Daewoo of Korea, and the 10th-place Pontiac Vibe is a re-skinned Toyota that hails from Japan. The Focus profits from a low depreciation rate — at 56 percent. Ford sells the Focus in three- and five-door hatchback, sedan and wagon versions. Excluding the performance-boosted ZX4 ST sedan, the wagons cost the most to own. The Focus holds its value better than any other model in this group of frugal transporters.
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2. Chevrolet Aveo
Average starting MSRP: $11,844
Chevrolet's Aveo has low overall ownership costs simply because its purchase price is low. Sold in hatchback (called the Aveo5) and sedan configurations, the model has the lowest average sticker price among the 10 least expensive to own autos. In fact, at $9,995, the base Aveo5 has the lowest MSRP in America. But the Aveo stumbles at the pumps, with low fuel mileage.
3. Kia Rio
Average starting MSRP: $13,571
Kia Rio & Hyundai Accent are the same car, sold by two Korean companies with close corporate ties. Bolder styling differentiates the Rio, and it also comes in a Kia-only five-door hatchback called the Rio5. Both the Accent and Rio depreciate steeply, but the Rio's five-year average depreciation, at 74 percent, is slightly better than the Accent's. The Rio thus demands a few less dollars, even though its sticker price runs a bit higher. Also remember Rio depreciates at a very high rate just like the Hyundai Accent, it loses about three-quarters of its purchase price over five years.
4. Hyundai Accent
Average starting MSRP: $12,865
With an average base MSRP of $12,865, the Accent is less expensive off the lot than the Ford Focus, Honda Fit, Kia Rio, Nissan Versa and Toyota Corolla and Matrix — but those models steal less in ownership costs mostly because they depreciate less than the Accent. In fact, the Accent loses more than three-quarters of its purchase price over five years, giving it the worst depreciation rate on our list. However, despite ranking as a compact car in the EPA Fuel Economy Guide, the Accent affords generous cabin space.
5. Pontiac Vibe
Average starting MSRP: $16,760
Based on the Toyota Corolla and built at a GM/Toyota plant but branded a Pontiac, the Vibe is identical to the Toyota Matrix, except for some cosmetic particulars. And its name represents a meaningful difference in lower cost of ownership.
6. Nissan Versa
Average starting MSRP: $13,950
The versatile Versa is one of a trio of small, runabouts recently introduced by Japan's three big car companies, like the Toyota Yaris and Honda Fit. But with enough interior space to win a midsize classification in the EPA Fuel Economy Guide, the Versa is the roomiest of the three. In fact, among these 10 lowest-cost cars, Matrix and Vibe — listed as small station wagons in EPA's guide — provide a larger cabin.
7. Toyota Matrix
Average starting MSRP: $16,558
Matrix runs with the 10 least expensive to own autos even though its purchase price is higher than all but the 5th-ranked Pontiac Vibe. The Matrix is the station wagon version of the Corolla, and being priced higher than its sedan counterpart, it claims more dollars in depreciation even though its depreciation rate is slightly lower. The higher price also means owners lose more in interest and opportunity costs, taxes and fees.
8. Toyota Corolla
Average starting MSRP: $15,449
The fabled Toyota Corolla, introduced in America 39 years ago. Its MSRP is relatively high — averaging $15,449 for the six versions Toyota offers. The Corolla also has High replacement parts costs like Honda giving you High maintenance and repair costs. Its fuel economy is also Higher than some smaller cars. Wagon derivatives of the sedan, called the Toyota Matrix and Pontiac Vibe, cost a bit less than the Corolla.
9. Honda Fit
Average starting MSRP: $14,910
Consistent with Honda's reputation for High parts costs, the Fit costs the most to maintain and repair among these 10 cars with the lowest ownership costs. Plus, Honda prices the feature-laden Fit somewhat higher than some of its rivals. The base model, at $13,850 before extras, is $2,700 more than the Average starting MSRP of the Toyota Yaris. Add some performance accessories and an automatic transmission, and the Fit Sport starts at nearly $16,000. This Car is one step above the Toyota Yaris (Beer Can) listed below.
10. Toyota Yaris
Average starting MSRP: $12,625
You can buy a stripped-down Chevrolet Aveo, Hyundai Accent or Kia Rio for less than the $11,150 starting price of Toyota's tiny Yaris. And the ultra-low-priced Aveo even depreciates less over five years. Plus Toyota's subcompact commands so much more in dealer part replacement costs for maintenance and repairs, like all Toyota's. This is a Striped down Beer Can on wheels! A Very Dangerous Car!
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