About the 5-Year Cost to Own Awards
Negotiating a good price on a new-car purchase is an important aspect of keeping your overall costs of transportation down. And we at Kelley Blue Book offer you unprecedented help in achieving that worthwhile goal. But if you negotiate a good purchase price on a vehicle that is burdened with high ownership costs, much of your effort could go to waste. The combined costs of fuel, financing, insurance and, in particular, depreciation could well eat up all the savings you fought so hard to achieve at the negotiating table.
So how do you avoid this potential pitfall? How do you save yourself from choosing a vehicle with cost-to-own figures that will make you wish you'd chosen something else? Happily you don't have to do analysis of thousands of vehicle variations, nor do you have to be a doctoral candidate in advanced economics. All you have to do is pay heed to our annual 5-Year Cost to Own Awards, which identify the 2014 model-year vehicles that are the least expensive to own in their individual categories.
The awards are based on our industry-leading analysis of the 5-year ownership costs of virtually all 2014 model-year vehicles available for sale in the United States. In turn the analysis considers every key criterion that figures into the overall cost to obtain and operate a motor vehicle over a five-year period. Included among the factors are financing costs, insurance costs and state fees plus the anticipated costs of fuel, scheduled maintenance and repairs. Also included are the critical factors of purchase price - in our analysis the exclusive Kelley Blue Book Fair Purchase Price - and projected depreciation, derived from our Kelley Blue Book residual-value analysis.
To provide you with information that is pertinent to your individual needs, we calculate KBB.com's 5-Year Cost to Own projections at a make/model/trim level (e.g. 2014 Ford Explorer XLT 4WD) to enable you to examine total cost down to specific trim levels. To obtain make-model level 5-Year Cost to Own projections, Kelley Blue Book averages ownership cost projections to the model level, using actual new-car sales figures at the more specific trim level to guide the averaging. This technique gives appropriate weight to popular versions of each model. For example, it gives more weight to a Honda Civic LX Automatic, while lowering the weight of less popular trims like the sporty Honda Civic Si. By using this technique the KBB.com 5-Year Cost to Own Awards are insightful reflections of what consumers are expected to experience in the ownership of various models.
The bottom line: if you pay attention to our 5-Year Cost to Own Award winners, you can ensure that you won't pay too much for owning and operating a vehicle that is right for you.
Best Subcompact Car:
This year's 5-Year Cost to Own champion in the subcompact car category is technically smaller than a subcompact, but larger, roomier and more practical than its minicar competitors. The Chevrolet Spark competes with cars like the Scion iQ and Smart Fortwo, but offers the sizable advantage of four doors.
The awards are based on our industry-leading analysis of the 5-year ownership costs of virtually all 2014 model-year vehicles available for sale in the United States. In turn the analysis considers every key criterion that figures into the overall cost to obtain and operate a motor vehicle over a five-year period. Included among the factors are financing costs, insurance costs and state fees plus the anticipated costs of fuel, scheduled maintenance and repairs. Also included are the critical factors of purchase price - in our analysis the exclusive Kelley Blue Book Fair Purchase Price - and projected depreciation, derived from our Kelley Blue Book residual-value analysis.
To provide you with information that is pertinent to your individual needs, we calculate KBB.com's 5-Year Cost to Own projections at a make/model/trim level (e.g. 2014 Ford Explorer XLT 4WD) to enable you to examine total cost down to specific trim levels. To obtain make-model level 5-Year Cost to Own projections, Kelley Blue Book averages ownership cost projections to the model level, using actual new-car sales figures at the more specific trim level to guide the averaging. This technique gives appropriate weight to popular versions of each model. For example, it gives more weight to a Honda Civic LX Automatic, while lowering the weight of less popular trims like the sporty Honda Civic Si. By using this technique the KBB.com 5-Year Cost to Own Awards are insightful reflections of what consumers are expected to experience in the ownership of various models.
The bottom line: if you pay attention to our 5-Year Cost to Own Award winners, you can ensure that you won't pay too much for owning and operating a vehicle that is right for you.
Best Subcompact Car:
2014 Chevrolet Spark
This year's 5-Year Cost to Own champion in the subcompact car category is technically smaller than a subcompact, but larger, roomier and more practical than its minicar competitors. The Chevrolet Spark competes with cars like the Scion iQ and Smart Fortwo, but offers the sizable advantage of four doors.
And those two extra doors open up to a surprisingly roomy back seat. Not the ideal place to spend a long road trip, perhaps, but more than accommodating for 4-person local excursions. When cargo considerations are more important, folding down the Spark's rear seats allow it to accommodate all the spoils of a big-box shopping spree.
Its low starting price is a key factor in the Spark's cost-to-own advantage, but even a base Spark is well-equipped with features like air conditioning, power windows, 15-inch alloy wheels, OnStar, and a 60/40 split-folding rear seat.
The Spark's infotainment offering is another highlight. The Chevrolet MyLink system incorporates an attractive, easy-to-use 7-inch touchscreen and was the world's first car - along with its Chevrolet Sonic big brother — to offer Siri integration, allowing iPhone users to dictate and send text messages at the push of a button on the steering wheel, among many other functions. And navigation is just $50, via smartphone app.
Even when including destination charges, the 2014 Chevrolet Spark still starts under $13,000. Its small 84-horsepower 4-cylinder engine won't win many drag races, but highway fuel economy up to 38 mpg is a daily victory.
Best Full-Size Car:
All-new for 2014, the Chevrolet Impala is a standard bearer for what it takes to be a 5-Year Cost to Own winner. The V6 Impala is priced in the sweet spot for full-size sedans, while the fuel-smart 4-cylinder models allow the car to start at a lower price than most of its competitors.
Its low starting price is a key factor in the Spark's cost-to-own advantage, but even a base Spark is well-equipped with features like air conditioning, power windows, 15-inch alloy wheels, OnStar, and a 60/40 split-folding rear seat.
The Spark's infotainment offering is another highlight. The Chevrolet MyLink system incorporates an attractive, easy-to-use 7-inch touchscreen and was the world's first car - along with its Chevrolet Sonic big brother — to offer Siri integration, allowing iPhone users to dictate and send text messages at the push of a button on the steering wheel, among many other functions. And navigation is just $50, via smartphone app.
Even when including destination charges, the 2014 Chevrolet Spark still starts under $13,000. Its small 84-horsepower 4-cylinder engine won't win many drag races, but highway fuel economy up to 38 mpg is a daily victory.
Best Full-Size Car:
2014 Chevrolet Impala
All-new for 2014, the Chevrolet Impala is a standard bearer for what it takes to be a 5-Year Cost to Own winner. The V6 Impala is priced in the sweet spot for full-size sedans, while the fuel-smart 4-cylinder models allow the car to start at a lower price than most of its competitors.
That lower starting price means less horsepower, true, but it also means a less precipitous drop in the value of your new Impala when you drive it off the dealer's lot, as well as over time. Best of all, we've calculated that the Chevy Impala will hold its 5-year resale value better than its domestic rivals and most of its Asian and European competition as well.
That's the heart of the 2014 Chevrolet Impala's cost-to-own story — one kind of value. But the big Chevy sedan also comes equipped with another kind of essential value: It is well worth owning. Even in 4-cylinder mode, the Impala gives you elegance-affirming acceleration and a near-silent cabin, thanks to active noise cancellation technology and liberal use of acoustic glass.
Much of the long-term cost-to-own magic of the new Chevy Impala comes courtesy of its eye appeal — a shape that will hold up nicely over time — and the fact that its interior makes us think of luxury cars we've admired. All good scenes and no bad ones, that's what makes a 5-Year Cost to Own winner.
Best High Performance Car:
High-performance cars and value-for-dollar are typically about as compatible as privacy and social networking. Fortunately, the Chevrolet Camaro SS proves that automotive excitement and financial pragmatism can indeed walk hand in hand. Holding about a $2,000 advantage over the Mustang GT when it comes to 5-year ownership costs, the Chevy Camaro SS is among the rare breed of performance cars that lets you burn rubber without burning down your life savings.
That's the heart of the 2014 Chevrolet Impala's cost-to-own story — one kind of value. But the big Chevy sedan also comes equipped with another kind of essential value: It is well worth owning. Even in 4-cylinder mode, the Impala gives you elegance-affirming acceleration and a near-silent cabin, thanks to active noise cancellation technology and liberal use of acoustic glass.
Much of the long-term cost-to-own magic of the new Chevy Impala comes courtesy of its eye appeal — a shape that will hold up nicely over time — and the fact that its interior makes us think of luxury cars we've admired. All good scenes and no bad ones, that's what makes a 5-Year Cost to Own winner.
Best High Performance Car:
2014 Chevrolet Camaro SS/ZL1
High-performance cars and value-for-dollar are typically about as compatible as privacy and social networking. Fortunately, the Chevrolet Camaro SS proves that automotive excitement and financial pragmatism can indeed walk hand in hand. Holding about a $2,000 advantage over the Mustang GT when it comes to 5-year ownership costs, the Chevy Camaro SS is among the rare breed of performance cars that lets you burn rubber without burning down your life savings.
At the heart of the Camaro SS is a 426-horsepower 6.2-liter V8 paired with a 6-speed manual transmission. Complementing this potent powertrain are standard performance goodies like a limited-slip differential, Brembo brakes and sport-tuned suspension. There's also an available 1LE package that transforms the Camaro SS into a bona fide weekend track weapon.
For the 2014 model year, the Camaro lineup sees a modest cosmetic refresh in the form of revised front and rear fascias, redesigned taillights and reshaped exhaust tips. And while muscle cars are rarely known for their technological talents, the Camaro SS can be equipped with Chevrolet's revered MyLink infotainment system, which provides access to such connected services as Pandora and Stitcher Internet radio.
There was a time, not long ago, when 400-plus-horsepower performance cars were priced out of reach for all but the well-to-do. Today, you can pick up a 426-horsepower 2014 Chevrolet Camaro SS for right around $34,000. Oh, how times have changed.
Best Plug-In Vehicle:
Proving that being ultra-green also can be ultra-fun — and still deliver outstanding long-term value — the Chevrolet Spark EV charged off with our 5-Year Cost to Own honors in the Best Electric/Plug-in category. Currently available in California and Oregon, the most eco-friendly member of Chevy's smallest vehicle line packs a big-time personality into its mini-scaled package and rounds things out with an impressive selection of standards and an IIHS Top Safety Pick rating.
For the 2014 model year, the Camaro lineup sees a modest cosmetic refresh in the form of revised front and rear fascias, redesigned taillights and reshaped exhaust tips. And while muscle cars are rarely known for their technological talents, the Camaro SS can be equipped with Chevrolet's revered MyLink infotainment system, which provides access to such connected services as Pandora and Stitcher Internet radio.
There was a time, not long ago, when 400-plus-horsepower performance cars were priced out of reach for all but the well-to-do. Today, you can pick up a 426-horsepower 2014 Chevrolet Camaro SS for right around $34,000. Oh, how times have changed.
Best Plug-In Vehicle:
2014 Chevrolet Spark EV
Proving that being ultra-green also can be ultra-fun — and still deliver outstanding long-term value — the Chevrolet Spark EV charged off with our 5-Year Cost to Own honors in the Best Electric/Plug-in category. Currently available in California and Oregon, the most eco-friendly member of Chevy's smallest vehicle line packs a big-time personality into its mini-scaled package and rounds things out with an impressive selection of standards and an IIHS Top Safety Pick rating.
Motivation for the Spark EV comes from a 140-horsepower motor that develops a heady 400 lb-ft of torque — sufficient muscle to send this diminutive 5-door/4-passenger hatchback scrambling from 0-60 mph in about 7.5 seconds. A compact, rear-mounted battery pack gives the car an estimated 82-mile range and lets it reach a top speed of 90 mph while bespoke suspension tuning and StabiliTrak stability control also endow the Spark EV with a decidedly sporting feel when the going does get twisty.
Leatherette upholstery with heated front seats plus a leather-wrapped steering wheel are about all that differentiate the Spark 1LT from its upline 2LT sibling. Both variants come with a cool Volt-like programmable instrument display, Chevrolet MyLink infotainment system that has a 7-inch color touchscreen, SiriusXM Satellite Radio, Bluetooth, OnStar, cruise control, driver-selectable Normal/Sport operating modes, a full complement of power assists and 10 airbags.
As for battery replenishment, plugging the Spark EV into a 120V outlet will take about 17 hours using the standard cord and on-board charger, while a dedicated 240V wall unit requires less than seven hours to complete the task but the optional DC Fast Charger setup will refill the battery to 80 percent capacity in just 20 minutes.
Leatherette upholstery with heated front seats plus a leather-wrapped steering wheel are about all that differentiate the Spark 1LT from its upline 2LT sibling. Both variants come with a cool Volt-like programmable instrument display, Chevrolet MyLink infotainment system that has a 7-inch color touchscreen, SiriusXM Satellite Radio, Bluetooth, OnStar, cruise control, driver-selectable Normal/Sport operating modes, a full complement of power assists and 10 airbags.
As for battery replenishment, plugging the Spark EV into a 120V outlet will take about 17 hours using the standard cord and on-board charger, while a dedicated 240V wall unit requires less than seven hours to complete the task but the optional DC Fast Charger setup will refill the battery to 80 percent capacity in just 20 minutes.
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