When you buy a car, there’s more you need to know than the final purchase price and your monthly payment. There are other costs to consider that you’ll face throughout the time you own the car. These include insurance, maintenance costs, fuel costs, and most importantly, depreciation.
Kelley Blue Book’s 5-Year Cost to Own data ties all of these figures together. This data also factors in the Fair Purchase Price when you buy and the resale or trade-in value when you’re ready for your next car. All of this comes together in the form of our projected 5-Year Cost to Own data, which you can use to help make a decision about which new car to buy. It’s also the basis for these awards.
Here are the 5-Year Cost to Own Award winners for 2022. These are the vehicles and brands that boast the lowest projected cost to own in their respective segments.
• 2022 Lowest 5-Year Cost to Own: SUVs
• 2022 Lowest 5-Year Cost to Own: Cars
• 2022 Lowest 5-Year Cost to Own: Trucks, EVs, Minivan
• 2022 Lowest 5-Year Cost to Own: Brands
2022 Lowest 5-Year Cost to Own: SUVs
2022 Hyundai Venue
Subcompact SUV
5-Year Cost to Own: $30,555
Compared to segment avg: -$6,982
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2022 Subaru Forester
Compact SUV
5-Year Cost to Own: $39,473
Compared to segment avg: -$1,957
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2022 Subaru Outback
2-Row Midsize SUV
5-Year Cost to Own: $43,973
Compared to segment avg: -$6,730
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2022 Subaru Ascent
3-Row Midsize SUV
5-Year Cost to Own: $48,383
Compared to segment avg: -$4,121
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2022 Nissan Armada
Full-Size SUV
5-Year Cost to Own: $69,416
Compared to segment avg: -$6,822
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2022 Ford Bronco
Off-Road SUV
5-Year Cost to Own: $47,961
Compared to segment avg: -$3,059
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2022 Lexus UX
Subcompact Luxury SUV
5-Year Cost to Own: $46,424
Compared to segment avg: -$3,224
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2022 Lexus NX
Compact Luxury SUV
5-Year Cost to Own: $51,227
Compared to segment avg: -$6,219
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2022 Lexus RX
2-Row Midsize Luxury SUV
5-Year Cost to Own: $62,099
Compared to segment avg: -$12,156
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2022 Acura MDX
3-Row Midsize Luxury SUV
5-Year Cost to Own: $60,530
Compared to segment avg: -$7,193
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2022 Lexus LX
Full-Size Luxury SUV
5-Year Cost to Own: $88,956
Compared to segment avg: -$12,698
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2022 Lowest 5-Year Cost to Own: Cars
2022 Toyota Corolla
Compact Car
5-Year Cost to Own: $31,464
Compared to segment avg: -$2,323
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2022 Honda Accord
Midsize Car
5-Year Cost to Own: $38,713
Compared to segment avg: -$893
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2022 Toyota Avalon
Full-Size Car
5-Year Cost to Own: $51,123
Compared to segment avg: -$3,570
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2022 Subaru BRZ
Sports Car
5-Year Cost to Own: $40,397
Compared to segment avg: -$21,739
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2022 Acura ILX
Entry-Level Luxury Car
5-Year Cost to Own: $41,192
Compared to segment avg: -$14,684
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2022 Volvo S90
Luxury Car
5-Year Cost to Own: $67,365
Compared to segment avg: -$16,145
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2022 Lowest 5-Year Cost to Own: Trucks, EVs, Minivan
2022 Toyota Corolla Hybrid
Type: Hybrid Car
5-Year Cost to Own: $31,231
Compared to segment avg: -$10,303
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2022 Nissan Leaf
Electric Vehicle
5-Year Cost to Own: $34,134
Compared to segment avg: -$13,258
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2022 Tesla Model 3
Electric Luxury Vehicle
5-Year Cost to Own: $48,233
Compared to segment avg: -$16,411
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2022 Ford Ranger
Midsize Pickup Truck
5-Year Cost to Own: $40,267
Compared to segment avg: -$3,321
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2022 Toyota Tundra
Full-Size Pickup Truck
5-Year Cost to Own: $47,679
Compared to segment avg: -$4,669
Read More »
2022 Lowest 5-Year Cost to Own: Brands
Best Brand: Toyota
Toyota’s emphasis on quality pays dividends in the form of reliability. This in turn adds value, leading to low cost to own numbers.
Best Luxury Brand: Lexus
Lexus has a stellar reputation for building high-quality reliable, well-equipped luxury vehicles at prices well below the competition.
About the 5-Year Cost to Own Awards
Kelley Blue Book’s 5-Year Cost to Own data takes into account the total vehicle-related costs an owner will encounter during the first five years of owning a car. This includes the Fair Purchase Price of a vehicle and its resale value. The 5-Year Cost to Own projections also factor in the insurance, fuel costs, and maintenance costs, as well as any state tax and registration fees. However, the biggest single item that affects what you’ll pay over the time you own your vehicle is depreciation. That significant number doesn’t affect most owners until the time comes to sell it or trade it in.
While most of the numbers, like expected fuel costs, insurance, maintenance, and repairs, are easy to digest, it’s the depreciation component that should be a critical element in your car buying decision. The value of your vehicle on the resale market can have a major impact on your overall expenses. That low initial price of a low trim vehicle may look good out the door, but a buyer of one with more features — or even a competing model with lower depreciation — may come out ahead when all is said and done.
That’s why Kelley Blue Book’s 5-Year Cost to Own Awards can be a valuable addition to your new car shopping research. That’s why we’ve identified the brands and individual models across such a wide range of vehicle classes. These are the ones that perform the best when it comes to protecting your automotive investment.
