Finding a vehicle that is both affordable and reliable can be a daunting task. We’re diving into the top 10 cars, SUVs, and trucks that not only have the lowest purchase prices but also the least expensive maintenance and ownership costs over a five-year period. Based on data from Car Edge, these vehicles stand out for their reliability, low insurance costs, and minimal depreciation.
10. Toyota Sequoia: The Full-Sized SUV Champion
The Toyota Sequoia stands out in the full-sized SUV category, boasting a five-year cost of ownership of approximately $50,682 USD. While full-sized SUVs generally come with high costs, the Sequoia manages to keep maintenance expenses low, totaling just $1,839 over five years. This is significantly below the average for its class, making it a reliable choice for families needing space without breaking the bank.
However, the Sequoia does face challenges with depreciation and fuel costs, which account for a large portion of its overall expenses. With 24% of the five-year costs attributed to fuel, potential buyers should be prepared for higher gas expenses. Despite these factors, the Sequoia’s reputation for reliability and strong resale value makes it a solid investment.
9. Tesla Model 3: The Electric Vehicle Leader
In the electric vehicle category, the Tesla Model 3 emerges as the most economical option, with a five-year ownership cost of $39,175 USD. While electric vehicles typically have higher initial purchase prices and depreciation rates, the Model 3 excels in fuel and maintenance costs, which are significantly lower than traditional vehicles.
Despite its high upfront cost, the Model 3’s low maintenance and fuel expenses make it a compelling choice for eco-conscious consumers. Car Edge rates it with a B-, indicating room for improvement, but as fuel and maintenance savings accumulate, the Model 3’s overall value is likely to increase over time.
8. Nissan Frontier: The Truck for Budget-Conscious Buyers
The Nissan Frontier takes the crown in the truck category, with a five-year cost of ownership of $33,375 USD. This truck offers a balanced breakdown of costs, with fuel, depreciation, and insurance expenses evenly distributed, each costing around $8,000 to $9,000 over five years.
With maintenance costs at approximately $2,200, the Frontier is a practical choice for those needing a truck without the hefty price tag. Car Edge gives it a B+ rating, making it a standout option compared to other trucks, especially full-sized models that tend to be more expensive to own.
7. Toyota Highlander Hybrid: The Mid-Sized SUV Winner
For those seeking a mid-sized SUV, the Toyota Highlander Hybrid is the best option, with a five-year ownership cost of $30,803 USD. This vehicle excels in both fuel and maintenance costs, which are well below average for its category, making it an economical choice for families.
The Highlander Hybrid’s cost breakdown shows that depreciation and insurance account for a significant portion of expenses, but its low maintenance cost of only $1,720 is a major advantage. Car Edge rates it with an A+, confirming its status as a top choice for budget-conscious buyers.
6. Toyota Camry: The Reliable Mid-Size Sedan
The Toyota Camry is a perennial favorite in the mid-size sedan category, with a five-year cost of ownership of $26,810 USD. Its standout feature is its low maintenance cost, totaling just $1,168 over five years, which is below average for sedans.
With an A rating from Car Edge, the Camry is recognized for its reliability and affordability. Other honorable mentions in this category include the Subaru Legacy and Honda Accord, both of which also offer excellent value for money.
5. Toyota RAV4: The Compact SUV Champion
The Toyota RAV4 is the best compact SUV, with a five-year ownership cost of $26,095 USD. Its costs are evenly split among depreciation, insurance, and fuel, all of which are below average for compact SUVs.
Maintenance costs are particularly low at $1,503, contributing to the RAV4’s A rating from Car Edge. Other notable compact SUVs include the Honda CR-V and Subaru Forester, which also perform well in terms of cost efficiency.
4. Honda HR-V: The Top Subcompact SUV
The Honda HR-V leads the subcompact SUV category with a five-year cost of ownership of $25,322 USD. Its lower depreciation and maintenance costs make it an attractive option for budget-conscious consumers.
Although Car Edge rates the HR-V with a B+, it remains a strong contender in its class. Other subcompact SUVs like the Mazda CX-30 and Subaru Crosstrek also show promising results in terms of affordability.
3. Subaru Impreza: The Compact Car Winner
The Subaru Impreza is the best compact car, with a five-year ownership cost of $23,441 USD. It excels in depreciation, financing, and maintenance costs, making it a smart choice for those looking for an economical vehicle.
With an A rating from Car Edge, the Impreza is a reliable option, alongside honorable mentions like the Honda Civic and Toyota Corolla, which also offer great value.
2. Toyota Prius: The Hybrid Car Leader
The Toyota Prius is the top hybrid car, boasting a five-year ownership cost of $22,595 USD. Known for its low fuel and maintenance costs, the Prius is a standout choice for those seeking an economical vehicle.
With an A+ rating from Car Edge, the Prius is recognized for its affordability and reliability, making it a top pick for hybrid enthusiasts.
1. Kia Rio: The Subcompact Car Champion
Finally, the Kia Rio takes the title for the cheapest subcompact car to own, with a five-year cost of ownership of $21,115 USD. Its low purchase price significantly contributes to its overall affordability, despite slightly higher fuel and maintenance costs compared to the Prius.
With an A- rating from Car Edge, the Rio is a practical choice for those needing a budget-friendly vehicle. Other subcompact cars like the Chevy Spark and Mitsubishi Mirage also perform well in this category.
