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Consumer Action by Stacey L. Bradford (Author Archive)
Slideshow: 5 Least Expensive Cars to Own
HYBRIDS AREN'T THE only solution to budget-busting gas prices. Believe it or not, owning a good old-fashioned compact car will save drivers more money overall. Online auto web site Cars.com did the math and found a handful of small, fuel-efficient vehicles that offer drivers significant cost savings over the most popular green alternatives.
The company's survey evaluated all the current compact car models on the road. It calculated the total driving costs by combining the base sticker price with lifetime fuel costs of $4 a gallon and average annual driving distance of 15,000 miles over an eight-year period. The results netted five 2008 model-year vehicles that provide a savings of nearly $4,000 or more versus the incredibly popular Toyota Prius.
How is it that the hybrids, with their superior fuel efficiency, cost so much more to own? It all comes down to the sticker price. Fuel-efficient compacts typically cost less than $11,000. The Toyota (TM) Prius, meanwhile, starts at around $21,000, but car buyers will most likely have to pay a premium on that price tag since the cars are in such hot demand (there's actually a Prius waiting list in much of the country). Honda's (HMC) Civic Hybrid is a bit more expensive at $22,600. And even with the aid of a $525 federal tax credit, which expires at the end of this year, the Civic is still more expensive to own than a fuel-efficient compact.
To find out which compact cars provide the most bang for the buck, view our slideshow:
The 5 Least Expensive Cars to Own | ||||
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i have increased my mileage on my honda civic 15% so far with this, check it out for yourself www.forearthonline.com/fightback
I have an '01 Prius that I purchased in Sept 2000. After 187610 miles, I can say this has been the lowest maintenece car I have ever owned! I replaced the foot pedal position sensor at 120000 miles and the right rear wheel bearing at 177000 miles. I also replaced the spark plugs and mass airflow sensor at 120000 miles but only because I thought it was time, not because they were creating any problems. I still have the original brake pads (thanks to regenerative braking) and the original 12 volt battery (even though it is showing signs of weakness). I just change the oil (Mobile 1 Synthetic) and filter and rotate the tires every 5000 miles and keep driving! I took a 5000 mile trip pulling a small trailer loaded with camping equipment and still averaged 40 mpg with mostly highway driving. To the person getting 44-46 mpgs in the Honda I have to ask what his mileage is in town with stop and go traffic. That is where the Prius really shines! I was able to squeek out 60 mpg's over a...(Read more of this comment)
Unless I'm missing something here, this story is. The total costs are calculated without taking into account the value of the vehicle after the 8 years. The resale price could have a huge effect on the overall cost of ownership.
Tha press is guilty of misleading premise, inaccurate data, and intentional distortion???? Say it isnt so!!!
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Thanks Flabby_Boy. I appreciate the good points you've made that were apparently ignored in this article.