Most Affordable 2009 Vehicles
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David Wurster could hardly believe it recently when he filled the tank of his Ford Focus ZX5 with gas that cost just over $1.60 a gallon. It was a far cry from the $3.60 he paid last summer. But Wurster's not letting himself get used to the new low.
It's the unease of impending high gas prices and the shaky economy that necessitates consumers arming themselves with as much information as they can before heading out to buy a new car, experts say. And the research can pay off, since the true costs of owning a car are realized only after you drive off the lot, not when you hand over a cashier's check for the car itself.
The Wrangler Unlimited SUV, however, fares worse when it comes to affordability over five years. Its lower gas mileage (15 mpg in the city, 20 mpg on the highway) and the higher cost of insuring a mid-size SUV make it more expensive to drive than a smaller car of comparable sticker price.
"They are looking at the overall cost over the life of the vehicle," he says. "And the millennials, as we call them, are also doing the research for their mothers and fathers. So they know about insurance costs and maintenance and fuel costs. They're looking for that value."
To identify 2009's most affordable vehicle in each major market segment, we used Vincentric data to add to the base price the five-year totals for fuel costs, maintenance and repairs, as well as the average national insurance rates in each segment. To find the gas expense, we assumed an annual rate of 15,000 miles driven per vehicle at a price of $3.25 per gallon (the 2008 year-to-date average). We then evaluated affordability based on the percentage of each vehicle's five-year costs compared with its grand total costs, including base price.
Most SUV owners don't really need the extra towing capacity of a larger, heavier SUV for making weekend trips to Wal-Mart, says Jason Fogelson, a Los Angeles-based auto writer who maintains the About.com guide to SUVs. Consumers should buy the smallest, most fuel-efficient vehicle they can get away with, he says--the Kia fits the bill for those who truly need an SUV. And despite recent generous deals on full-sized SUVs, buyers should remember that they'll usually save more money on their initial purchase and on gas later on if they choose the smaller SUV or engine.
Scaled-Down Luxury, Bigger Savings
Of course, smaller vehicles tend to cost less to own over the years than crossovers and SUVs. The Nissan Versa, which topped the compact entry-level segment, costs roughly $26,000 to own over five years, while the Chrysler 300, the large premium sedan winner, costs almost twice that much. But opting for the smaller car doesn't mean settling for chintzy workmanship and a bare interior.
"People want small, they want fuel economy, but they want the creature comforts they see in other cars," Jarvis says. "They want the leather seats. They want heated seats. They want [the voice-activated communication system] Sync."
The Bottom Line
So what really matters when searching for an affordable vehicle? Keep in mind smaller, cheaper cars tend to include less equipment, which reduces weight and improves fuel efficiency. They also tend to have lower maintenance fees.
Models like the Volkswagen Tiguan SUV and Ford Fusion mid-size, for example, are both in crowded segments, but each is the most affordable in their class because they have lower fuel costs and lower long-term maintenance costs than their competitors.
Jarvis took all that into account before he bought his 2009 Ford Focus, which cost him $14,995.
Consumers who do their homework, as Jarvis and Wurster did, will feel much less of a pinch should gas prices spike again in the summer ahead.
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