10 Cheapest Cars to Own in 2008

Photo by Bruno Guerreiro
Photo by Bruno Guerreiro

Well, the list is in and my Lamborghini didn’t make the list of the 10 cheapest cars to own by BankRate.com. I’m just as surprised as you are!

BankRate compiled the list based on 8 factors:

  1. MSRP
  2. Taxes and fees
  3. Depreciation
  4. Finance interest
  5. Insurance
  6. Fuel Cost
  7. Maintenance
  8. Repairs

Drumroll Please!

If you thought the cheap American Chevy Aveo was number 1, you’d be wrong!

1. Honda Fit 6. Scion xB
2. Chevrolet Aveo 7. Pontiac Vibe
3. Hyundai Accent 8. Toyota Corolla
4. Toyota Yaris 9. Kia Rio
5. Nissan Versa 10. Suzuki SX4

Starting from a base price of $13,950, the Honda Fit comes out to about a $34,000 cost of ownership after 5 years. Heck that’s nearing what I paid for my Honda Ridgeline truck after tax, registration and extended warranties! Maybe I should have gotten a Fit.

And one thing you should notice is #7, the Pontiac Vibe. Why? Because it’s the same exact thing as the Toyota Matrix, but cheaper. Literally, the main difference is sheet metal and badging. All of the underpinnings are the exact same. So go with the cheaper American version, thanks to incentives like cashback or financing, rather than the Toyota counterpart that only has a perceived superiority.

Add a Comment

Your email address will not be published. Required fields are marked *