Ownership costs are the costs to purchase and operate a vehicle over a period of time. Understanding these costs can save you money and help you make a wiser financial decision when it comes time to select a vehicle.
Regardless of the “value” claims that you may read in car reviews or hear in ads, a vehicle’s economic value is based on how much it will cost to own and operate compared to its purchase price. In a sense, purchase prices are “what you pay” and the ownership costs are “what you get.” The less you pay for what you get the better off you are.
Ownership costs can differ greatly. The cost to own and operate two different vehicles with equal purchase prices can differ by thousands. Of course when evaluating ownership cost for used cars and trucks, a vehicle’s condition and mileage will greatly impact ownership costs, therefore it’s important to compare similar vehicles in similar condition for an accurate picture.
The Intellichoice Cost of Ownership data is updated on an annual basis in January.
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© 2008 Kelley Blue Book Co., Inc. All rights reserved. 9/7/2008. The specific information required to determine the price for this particular vehicle was supplied by the person generating this report. This report is intended for the individual use of the person generating this report only and shall not be sold or transmitted to another party. Kelley Blue Book assumes no responsibility for errors or omissions. (v.080901)