The cost of a car extends much past its initial price tag. From insurance to maintenance to gas, the expenses can certainly add up. Of course, certain cars are less expensive to own than others, and Kelley Blue Book recently announced its picks for its inaugural Total Cost of Ownership Awards.
The honors were given in a number of different categories, but the cars that performed the best were Kia, tops among all automakers, and Audi, the best luxury brand. Kia set it self above the rest for several reasons, but perhaps most significant were the redesigns of many of its models. The manufacturer managed to create a new image while maintaining the affordable initial price and high gas mileage. Specifically, models like the Soul and Optima performed well.
As for Audi, according to KBB, its biggest strength is that the company's vehicles maintain their value extremely well over time. For most vehicles, depreciation is their biggest expense, but for Audi it's not a large obstacle. Additionally, the automaker's cars have superior fuel economy compared to other brands.
"Car shoppers should take the time to compare vehicles on their consideration lists to fully understand the financial implications involved with cost of ownership," said Juan Flores, director of vehicle valuation for Kelley Blue Book. "While a vehicle might be less expensive up front, the cost of fuel for that model, insurance and other expenditures could make it the less appealing choice for their wallet in the long run."
Whether you're looking for a reliable luxury brand like Audi or a more affordable car like the Kia Sportage, New Jersey State Auto Auction has you covered. With affordable prices up front, you'll be sure to get a good deal regardless of what car you choose.