In these days of wage stagnation it is more important than ever to keep your household costs down, and one important cost in most household budgets is transportation. If you can't get to work, you can't get a paycheck. It's as simple as that. Of course, one way to limit your transportation costs is by negotiating a good price on a new-car purchase, and we at Kelley Blue Book are here to help you do that. But getting a good price on a new-car purchase is only one puzzle piece in the overall solution to high transportation costs. Purchasing a vehicle that promises a low overall cost of ownership is equally important in achieving the goal. And the fact is negotiating a favorable purchase price is typically easier than figuring out which car will have the best cost of ownership. The combined costs of fuel, financing, insurance and depreciation are well beyond most individuals' ability to research and determine. Which is why we at Kelley Blue Book are here for you.
You won't have to do analysis of thousands of vehicle variations, looking at various data points to figure out the cost to own of each potential model you might choose, because we have done that for you. A great place to start your quest for low-cost transportation is our annual 5-Year Cost to Own Awards, which identify the 2015 model-year vehicles that are the least expensive to own in their individual categories.
The awards are based on our renowned and trusted analysis of the ownership costs of virtually all 2015 model-year vehicles available for sale in the United States. As you'd expect from Kelley Blue Book, our analysis considers every key criterion that figures into the overall cost to obtain and operate a motor vehicle, and we present it in the context of a typical five-year ownership period. Included among the factors are financing, insurance and state fees plus the anticipated costs of fuel, scheduled maintenance and repairs. Also included are the critical factors of purchase price -- in our analysis the exclusive Kelley Blue Book Fair Purchase Price -- and projected depreciation, derived from our industry-standard residual-value analysis.
To provide you with information that enables easy comparisons, we calculate our 5-Year Cost to Own projections at a make/model/trim level (e.g. 2015 Toyota Camry XLE) to enable you to examine total cost down to the specific level you are considering. In creating our make-model level 5-Year Cost to Own projections for our awards, Kelley Blue Book averages ownership cost projections to the model level, using actual new-car sales figures at the more specific trim level to guide the averaging. This technique gives appropriate weight to popular versions of each model, making the KBB.com 5-Year Cost to Own Awards insightful reflections of what consumers are expected to experience in the ownership of various models.
In other words if you choose a 5-Year Cost-to-Own Award winner as your personal vehicle you can be confident that your costs for transportation will be among the lowest for vehicles of that type in typical service.
Our annual 5-Year Cost to Own Awards are broken into two groups, as listed below.
While our 5-Year Cost-to-Own awards recognize standouts at the model level, we also use the model and trim level analysis to identify the Best Brand and Best Luxury Brand that offer outstanding ownership costs across their entire lineups.
A 5-Year Cost to Own champion is named in each of 22 distinct vehicle categories, so our annual list features high-value standouts for just about every car shopper. We also identify two runners-up in each category, and often these vehicles deliver value very close to that of the award winners.
And with that, let's meet the 5-Year Cost to Own Award champions of 2015, starting with the two Best Brand awards.