A comprehensive analysis by MarketWatch Guides has shed light on the vastly different expenses associated with owning and operating various vehicles over a five-year period.
The study’s findings revealed that the Hyundai Venue stands out as the most economical choice, with a total cost of ownership amounting to $22,761. This is followed closely by the Hyundai Elantra, Nissan Sentra, Honda Accord, and Toyota Corolla, all of which demonstrate a commitment to affordability with costs under $25,000.
On the other end of the spectrum, luxury vehicles such as the Porsche Cayenne, Macan, and BMW X5 xDrive40i emerge as the most costly to own, with expenses ranging from $48,456 to a staggering $56,010 over five years. The Hyundai Venue’s impressive fuel efficiency, boasting a combined rating of 31 mpg, seriously contributes to its economical appeal.
In a separate analysis, MarketWatch delved into the depreciation costs of gas and electric models, revealing intriguing insights. The Mini Cooper Countryman and Mini Cooper Electric demonstrate similar depreciation patterns, with a mere $283 difference over five years.
Conversely, the Audi A3 and Audi E-Tron GT exhibit the most remarkable disparity, with the electric E-Tron experiencing a substantial $29,164 greater depreciation over the same period. These findings underscore the importance of considering long-term costs when selecting a vehicle.