2016 5-Year Cost To Own Award Winners Announced By Kelley Blue Book

IRVINE, Calif., Feb. 10, 2016 /PRNewswire/ -- The 2016 model-year brand and category winners of the fifth annual 5-Year Cost to Own Awards, recognizing new vehicles with the lowest projected ownership costs, were announced today by Kelley Blue Book, www.kbb.com, the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry.  These awards are based on Kelley Blue Book's 5-Year Cost to Own data for new cars for the initial five-year ownership period. 

While depreciation (or loss of value) and fuel costs may be the greatest expense incurred in owning a vehicle, there are other factors that can have a significant impact on a consumer's budget.  Available on Kelley Blue Book's KBB.com for new models, 5-Year Cost to Own information takes into consideration depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees.  

Kelley Blue Book's 5-Year Cost to Own Awards, like all new- and used-car information provided by KBB.com, exist to help shoppers make more informed new-car buying decisions by breaking down typical ownership cost details and naming the brands and models with the lowest projected five-year total. 

2016 Kelley Blue Book 5-Year Cost to Own Award Winners

(2016 model-year vehicle's projected ownership costs are based on the average Kelley Blue Book 5-Year Cost to Own data for the initial five-year ownership period).

"­­New-car shoppers usually pay a lot of attention to how much a car will cost upfront; however, sometimes an even more expensive car on the front end can actually save you money during the first five years of ownership by having low total ownership costs," said Dan Ingle, vice president of vehicle valuations, industry solutions and international for Kelley Blue Book. "Kelley Blue Book's 5-Year Cost to Own information evaluates the other out-of-pocket expenses drivers will incur beyond the initial purchase price, which helps consumers choose the vehicle that best fits their needs and their long-term budget, helping save money down the road."

Based on analysis of Kelley Blue Book's 5-Year Cost to Own information for 2016 model-year new vehicles, Hyundai and Acura are the prestigious brand winners. In addition to a low Kelley Blue Book^® Fair Purchase Price, fuel, maintenance and repair costs across its full model lineup, Hyundai also has a mid-range depreciation and insurance cost, making it the 2016 5-Year Cost to Own: Best Brand among all automakers. Kelley Blue Book Fair Purchase Price is the price shoppers typically pay a dealer for a new car, based on actual new-car transactions and adjusted regularly as market conditions change. Some of the models driving Hyundai's success include the 2016 Accent, Elantra, Sonata, Tucson and Veloster. 

Meanwhile, Acura takes the crown for the 2016 5-Year Cost to Own: Best Luxury Brand, as it currently has the lowest average Kelley Blue Book Fair Purchase Price, depreciation and fuel costs of any luxury brand, and ranks competitively in insurance and maintenance costs. Some Acura models driving the brand's success include the 2016 ILX, MDX, RDX and TLX. 

Other notable 5-Year Cost to Own Award winners include the 2016 Chevrolet Impala, which has beat all models in its class since the inception of this accolade in 2012. The Impala continues to best the competition with its low Kelley Blue Book Fair Purchase Price, which results in lower financing and state fees. This model also has a low insurance cost during the first five years of ownership.  In addition to the Impala, repeat category winners from last year include the Chevrolet Spark EV, Chevrolet Colorado, Buick Verano, Buick Encore, Buick Enclave, Ford Explorer, Ford Mustang GT, Lexus LS, Toyota Highlander Hybrid, Toyota Prius c, Toyota Corolla and Jeep Wrangler Unlimited. The all-new Honda HR-V bested longtime former winner Jeep Patriot to take the crown for lowest ownership costs in the hot Compact SUV/Crossover segment, thanks in large part to the HR-V's strong residual values along with its low maintenance and repair costs.

Kelley Blue Book 5-Year Cost to Own information is developed using Kelley Blue Book^® Residual Values to calculate depreciation costs. Kelley Blue Book calculates total ownership costs for new vehicles by applying a sophisticated valuation methodology along with critical financial data from third-party providers. 

For more information about the 2016 5-Year Cost to Own Award winners, please visit http://www.kbb.com/new-cars/5-year-cost-to-own-awards/.

To discuss this topic or any other automotive-related information with a Kelley Blue Book analyst on-camera via the company's on-site studio, please contact a member of the Public Relations team to book an interview.

For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb, and get updates on Google+ at https://plus.google.com/+kbb.

About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides the most market-reflective values in the industry on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Fair Purchase Price, which reports what others are paying for new and used cars this week. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book's KBB.com ranked highest in its category for brand equity by the 2015 Harris Poll EquiTrend^® study and has been named Online Auto Shopping Brand of the Year for four consecutive years. Kelley Blue Book Co., Inc. is a Cox Automotive company.

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SOURCE Kelley Blue Book