Recent Models with The Best Value
The upfront cost of a new car isn’t the only thing to consider when purchasing a vehicle. A car is something you live with every day, and it is important to buy one that is reliable, easy to maintain, and cheap to fix. As a car will most likely be your fastest depreciating purchase of the year, it’s important to know what you’re buying before you take the plunge.
A car’s value depreciates greatly the moment it leaves the lot. Over a five-year period, a car’s depreciation costs account for nearly half of the car’s total cost of ownership. This is why you must always research the model you are getting.
First, Think small. Smaller is almost always better when acquiring a new car. When it comes to upkeep, labor costs and the prices of replacement parts are usually cheaper. They take less fuel to run, so gas will ultimately cost less as well. Smaller cars are also known to deliver the lowest-long term operating costs.
Thanks to the Internet, it’s easy to explore the True Cost to Own price of different models. This calculation includes all the costs of a new car ownership, accounting for depreciation, insurance, interest, fuel costs, repairs, and maintenance.
The Toyota Prius C One is an excellent choice for a vehicle. Averaged at just around 42 cents a mile to run and maintain over a five-year period, the Prius is fuel efficient, reliable, and inexpensive.
Did I mention it is a hybrid?
Honda is another great option, particularly the Civic and the Insight. Although Honda doesn’t always offer the least expensive car on the market, they do always provide great value for your money. Honda vehicles are certainly affordable, while also being extremely reliable. Not to mention, the overall cost to run a Honda is usually less than other vehicles. When it comes to reliability, Honda is at the top of the market. Their cars are very diverse, and could easily satisfy the needs of multiple individuals.
The Hyundai Accent is a little bit bigger car, with loads of benefits. Not only does it have a little more leg room, it’s still affordable, stylish, and has an extremely long warranty. If you’re looking to go the sporty route, the Ford Fiesta is the best choice. It’s very decently priced, easy to maintain, and fun to drive. This car’s strong fuel economy makes it cheap to run.
Next to a home, a car is one of the largest investments you will make. Not even the most skilled automotive expert can predict the accuracy of depreciation. It’s up to you to do the homework. If you want depreciation value at the minimum, it’s also appointment to take good care of your car, and sell it before the mileage gets too high. You should also factor in how long you plan on using the vehicle.
If you plan on driving it until it dies, depreciation really doesn’t matter. If you’re planning on driving it for a few years and then switching to another vehicle, make sure you know exactly what you are getting yourself into. This is a guest post by Nate Miller. Nate is a veteran blogger who currently represents Carfinance247.co.uk, a British company aimed at helping you get your dream ride.