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Just announced via press release:
Kelley Blue Book Names 5-Year Cost to Own Award Winners for 2022
Awards Honor New-Vehicle Brands, Models with Lowest Projected Ownership Costs to Help Shoppers Save Money
March 14, 2022 - ATLANTA - /PRNewswire/ - In the midst of a time when car prices repeatedly make headlines for reaching record highs, it's understandable that shoppers would place a lot of emphasis on the up-front expense of purchasing a new car. But beyond the sticker price, wise car shoppers also take into account the long view and consider the total cost of ownership. Ongoing costs like fuel, maintenance, insurance and even vehicle depreciation can vary greatly from one model to the next. To help in-market car shoppers make smart purchase decisions, the experts at Kelley Blue Book, a Cox Automotive company, today name the 2022 model-year brand and category winners of the 5-Year Cost to Own Awards. These awards recognize new vehicles with the lowest projected ownership costs over the initial five-year ownership period.
"Shoppers can save hundreds, if not thousands, of dollars over time when they choose to buy a vehicle with low ownership costs," said Janice Yoell, senior manager of valuations for Kelley Blue Book. "Taking the time to research what it will cost to own a new car can help savvy shoppers keep more money in their pockets in the long run. For the second year in a row, Toyota and its luxury sibling Lexus take home the top brand prizes for 5-Year Cost to Own in 2022. Both brands benefited from the strength of several Toyota and Lexus models' high residual values, which ultimately leads to low vehicle depreciation."
Available for new models on Kelley Blue Book's KBB.com, 5-Year Cost to Own information takes into consideration depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees. This data allows new-car shoppers to see the big picture of what a new vehicle will cost them over time, helping them to save money by choosing a vehicle that best meets their needs and their long-term budget.
Kelley Blue Book 5-Year Cost to Own information is developed using Kelley Blue Book® Residual Values to calculate depreciation costs. Kelley Blue Book calculates total ownership costs for new vehicles by applying a sophisticated valuation methodology along with critical financial data from third-party providers.
For more information from Kelley Blue Book about the 5-Year Cost to Own Awards, visit https://www.kbb.com/best-cars/lowest-5-year-cost-to-own-cars-trucks-suvs/.
Kelley Blue Book Names 5-Year Cost to Own Award Winners for 2022
Awards Honor New-Vehicle Brands, Models with Lowest Projected Ownership Costs to Help Shoppers Save Money
March 14, 2022 - ATLANTA - /PRNewswire/ - In the midst of a time when car prices repeatedly make headlines for reaching record highs, it's understandable that shoppers would place a lot of emphasis on the up-front expense of purchasing a new car. But beyond the sticker price, wise car shoppers also take into account the long view and consider the total cost of ownership. Ongoing costs like fuel, maintenance, insurance and even vehicle depreciation can vary greatly from one model to the next. To help in-market car shoppers make smart purchase decisions, the experts at Kelley Blue Book, a Cox Automotive company, today name the 2022 model-year brand and category winners of the 5-Year Cost to Own Awards. These awards recognize new vehicles with the lowest projected ownership costs over the initial five-year ownership period.
"Shoppers can save hundreds, if not thousands, of dollars over time when they choose to buy a vehicle with low ownership costs," said Janice Yoell, senior manager of valuations for Kelley Blue Book. "Taking the time to research what it will cost to own a new car can help savvy shoppers keep more money in their pockets in the long run. For the second year in a row, Toyota and its luxury sibling Lexus take home the top brand prizes for 5-Year Cost to Own in 2022. Both brands benefited from the strength of several Toyota and Lexus models' high residual values, which ultimately leads to low vehicle depreciation."
Available for new models on Kelley Blue Book's KBB.com, 5-Year Cost to Own information takes into consideration depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees. This data allows new-car shoppers to see the big picture of what a new vehicle will cost them over time, helping them to save money by choosing a vehicle that best meets their needs and their long-term budget.
| (2022 model-year vehicles' projected ownership costs are based on the average Kelley Blue Book 5-Year Cost to Own data for the initial five-year ownership period). |
Kelley Blue Book 5-Year Cost to Own information is developed using Kelley Blue Book® Residual Values to calculate depreciation costs. Kelley Blue Book calculates total ownership costs for new vehicles by applying a sophisticated valuation methodology along with critical financial data from third-party providers.
For more information from Kelley Blue Book about the 5-Year Cost to Own Awards, visit https://www.kbb.com/best-cars/lowest-5-year-cost-to-own-cars-trucks-suvs/.
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