If you want to get the most car for your money, you have to look beyond just purchase price. When you consider insurance, maintenance costs, fuel costs, and the big one, depreciation, choosing a slightly pricier model can save you money in the long run. And that also means less expensive cars can cost more over time.
Our exclusive and comprehensive 5-Year Cost to Own projections pull all these figures together into a single dollar figure, making it easy to compare the true financial impacts of the cars on your shopping list. We consider what you’ll pay for a car, the ongoing costs, and what it will be worth after five years of ownership.
Every year, we use that data to recognize the standout cars, trucks, and SUVs that will wreak the least havoc on your bank account over the long haul. Here are your Kelley Blue Book 5-Year Cost to Own Award winners for 2023.
• 2023 Lowest 5-Year Cost to Own: SUVs
• 2023 Lowest 5-Year Cost to Own: Cars
• 2023 Lowest 5-Year Cost to Own: Trucks, EVs, Minivan
• 2023 Lowest 5-Year Cost to Own: Brands
2023 Lowest 5-Year Cost to Own: SUVs
2023 Hyundai Venue
Subcompact SUV
5-Year Cost to Own: $31,686
Compared to segment avg: -$5,033
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2023 Subaru Forester
Compact SUV
5-Year Cost to Own: $37,367
Compared to segment avg: -$3,635
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2023 Subaru Outback
2-Row Midsize SUV
5-Year Cost to Own: $41,222
Compared to segment avg: -$8,772
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2023 Subaru Ascent
3-Row Midsize SUV
5-Year Cost to Own: $47,833
Compared to segment avg: -$5,087
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2023 Chevrolet Tahoe
Full-Size SUV
5-Year Cost to Own: $71,337
Compared to segment avg: -$3,901
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2023 Ford Bronco
Off-Road SUV
5-Year Cost to Own: $47,771
Compared to segment avg: -$2,735
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2023 Lexus UX
Subcompact Luxury SUV
5-Year Cost to Own: $46,962
Compared to segment avg: -$2,605
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2023 Lexus NX
Compact Luxury SUV
5-Year Cost to Own: $52,998
Compared to segment avg: -$7,041
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2023 Lexus RX
2-Row Midsize Luxury SUV
5-Year Cost to Own: $62,175
Compared to segment avg: -$10,420
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2023 Acura MDX
3-Row Midsize Luxury SUV
5-Year Cost to Own: $65,395
Compared to segment avg: -$5,318
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2023 Mercedes-Benz GLS
Full-Size Luxury SUV
5-Year Cost to Own: $92,444
Compared to segment avg: -$8,825
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2023 Lowest 5-Year Cost to Own: Cars
2023 Subaru Impreza
Compact Car
5-Year Cost to Own: $31,041
Compared to segment avg: -$1,936
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2023 Honda Accord
Midsize Car
5-Year Cost to Own: $36,732
Compared to segment avg: -$3,094
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2023 Subaru BRZ
Sports Car
5-Year Cost to Own: $39,908
Compared to segment avg: -$16,519
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2023 Genesis G70
Compact Luxury Car
5-Year Cost to Own: $50,539
Compared to segment avg: -$7,988
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2023 Lexus ES
Midsize Luxury Car
5-Year Cost to Own: $53,063
Compared to segment avg: -$9,913
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2023 Lexus LS
Full-Size Luxury Car
5-Year Cost to Own: $83,727
Compared to segment avg: -$19,730
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2023 Lowest 5-Year Cost to Own: Trucks, EVs, Minivan
2023 Toyota Corolla Hybrid
Hybrid Car
5-Year Cost to Own: $30,207
Compared to segment avg: -$11,054
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2023 Chevrolet Bolt EUV
Electric SUV
5-Year Cost to Own: $31,581
Compared to segment avg: -$14,959
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2023 Tesla Model Y
Electric Luxury SUV
5-Year Cost to Own: $48,651
Compared to segment avg: -$2,218
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2023 Chevrolet Bolt EV
Electric Car
5-Year Cost to Own: $28,610
Compared to segment avg: -$10,066
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2023 Tesla Model 3
Electric Luxury Car
5-Year Cost to Own: $43,975
Compared to segment avg: -$7,561
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2023 Ford Maverick
Compact Pickup Truck
5-Year Cost to Own: $31,416
Compared to segment avg: -$3,306
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2023 Ford Ranger
Midsize Pickup Truck
5-Year Cost to Own: $40,626
Compared to segment avg: -$3,665
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2023 Toyota Tundra
Full-Size Pickup Truck
5-Year Cost to Own: $48,254
Compared to segment avg: -$10,988
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2023 Ford F-150 Lightning
Electric Pickup Truck
5-Year Cost to Own: $51,243
Compared to segment avg: -$381
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2023 Toyota Sienna
Minivan
5-Year Cost to Own: $42,669
Compared to segment avg: -$6,307
Read More »
2023 Lowest 5-Year Cost to Own: Brands
Best Brand: Toyota
Toyota’s emphasis on quality pays dividends in the form of reliability. This in turn adds value, leading to low cost to own numbers.
Best Luxury Brand: Lexus
Lexus has a stellar reputation for building high-quality, reliable, well-equipped luxury vehicles at prices well below the competition.
About Our 5-Year Cost to Own Projections
Our 5-Year Cost to Own projections come from data developed by Kelley Blue Book analysts who calculate projected resale value while taking into consideration insurance costs and state fees, plus fuel, maintenance, and repair outlays. Underlying these projections are the vehicle’s initial cost as calculated from KBB’s Fair Purchase Price. These data points are determined at the model level. They are sales-weighted, with popular trims given greater influence so that average buyers have a better idea of what to expect from the ownership experience.
The data-generated 5-Year Cost to Own Awards is a powerful tool shoppers can use to evaluate a new vehicle purchase. By making an informed decision, you’ll spend your transportation dollars wisely with benefits that will accrue over the life of your ownership experience.
