Hyundai, Acura Take Top Honors in KBB’s ‘5-Year Cost to Own’ Awards
The firm named Hyundai as the brand with the lowest cost to own and Acura as the lowest cost luxury brand. Top vehicles were selected in 22 categories.
The firm named Hyundai as the brand with the lowest cost to own and Acura as the lowest cost luxury brand. Top vehicles were selected in 22 categories.
Spurred by a nearly 25% drop in fuel price, the annual cost to own and operate a vehicle in the United States has fallen to a six-year low of $8,558, according to AAA’s 2016 Your Driving Costs study. The drop more than offset the increase in every other cost associated with vehicle ownership.
Hyundai and Acura took the top honors, winning the competition's Best Brand and Best Luxury Brand awards, respectively. The contest looks at a vehicle’s depreciation, fuel costs, finance and insurance fees, maintenance and repair costs, and state fees to find its winners.
Decreases in gas prices and finance charges related to auto loans fueled the decline, but rises in maintenance and tire replacement costs make F&I protections an important consideration for vehicle owners.
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