Kelley Blue Book, which tracks pricing for used cars, recently released their research on "Total Cost of Ownership," which factors in things like depreciation, maintenance and fuel prices to determine the actual cost of owning a vehicle.
The data, which predicts the first five years of ownership, is useful for drivers who want to know which cars will hold onto their value for longer. It also considers things like maintenance - after all, tune-ups and vehicle inspections can add up over time, so a car that needs less of these can represent great value.
According to the news source, Kia was the top brand in terms of ownership cost among non-luxury vehicles. It was followed closely by Hyundai, which is actually the parent brand of Kia. Honda, which has always been known for having great residual value, was in third. Among luxury brands, it was Audi out in front, followed closely by Lexus and Cadillac.
"Kelley Blue Book's Total Cost of Ownership gives car shoppers a realistic view of what they will spend during the initial one- to five-year ownership period, allowing them to get the most for their dollar in today's economy," said Juan Flores, director of vehicle valuation for Kelley Blue Book. "More informative than simply having the purchase price alone, Total Cost of Ownership empowers car shoppers by including all significant costs that are part of the ownership experience."