Lower Purchase Price Correlates with Five Year Cost of Ownership

2023 Rio

CarEdge, a website which analyzes automotive data points, has ranked the vehicles with the lowest and highest five year ownership cost when considering depreciation, insurance, maintenance, financing and fuel expenses.

KIA’s humble Rio received the honor of being the least expensive five year car to own in a under $30,000 USD purchase price category. According to CarEdge’s data a Rio will cost an owner $21,115 over five years in depreciation, insurance premiums, maintenance and repairs, loan interest and fuel costs. The Rio bested Mitsubishi’s Mirage, Chevrolet’s Spark, Mitsubishi’s Mirage G4 and Subaru’s Impreza who were the immediate runner-ups. Further down the list of five year least expensive cars to own (under $30,000) were KIA’s Optima (#6), Hyundai’s Accent (#8), Hyundai’s Elantra (#12), KIA’s Forte (#13), KIA’s Soul (#15), Hyundai’s Venue (#16), and Hyundai’s Kona (#20) out of twenty-six models total.

Switching to a $30,000 to $50,000 category out of 95 models Hyundai’s Tucson ranked 13th in least expensive five year car to own, KIA’s Sportage (#22), Hyundai’s Sonata (#24), Hyundai’s Veloster (#30), KIA’s Stinger (#51), KIA’s Sorento (#62), Hyundai’s Santa Fe (#69), KIA’s Telluride (#76) and Hyundai’s Palisade (#84).