If you have to take out a car loan, it is best to opt for a vehicle that is low-cost and inexpensive to maintain – the less money spent, the better. Personal finance advice website Kiplinger.com has released a list of "The 10 Cheapest Cars to Own" to help buyers narrow down their choices.
The Nissan Versa is a subcompact hatch that has a five-year ownership cost of $26,233, which includes the base price of the vehicle, loan premiums, a down payment, as well as five years of fuel and insurance costs and a few other variables. It also has great mileage, receiving between 26 city and 34 highway miles per gallon.
Hyunday's Accent GL two-door hatch model has a five-year ownership cost of $26,715. Not only does it achieve up to 34 miles per gallon, but available equipment is low-cost, such as iPod integration for $35.
For just a couple hundred dollars more, the Chevrolet Aveo5 LS four-door hatch will run drivers $26,958 over five years and offer up to 35 highway miles per gallon.
Other cars on the list include the Ford Fiesta S, Mazda 2 Sport, Toyota Yaris, Kia Rio, Kia Soul, Honda Insight and the Ford Focus S.