Edmunds.com recently released it award winners for the 2011 Lowest True Cost to Own awards. Broken down by class the vehicles are subjected to Edmunds’ proprietary True Cost to Own data, which aims to show people the total five-year cost of owning each new car.
The True Cost to Own formula takes every cost of owning a car into account. Costs that include esitmated five year fuel cost, cost of insurance, depreciation, finance costs, maintenance and repairs, and taxes, as well as any tax credits the car may qualify for.
Each year after testing almost every new car for nearly a year Edmunds.com editors put together the award winners for vehicles from each class that have the lowest true cost to own. This year’s list was dominated by Ford and Honda. Honda was able to put five models on the list and four still had a great showing with 4 models. Most other manufacturers were lucky to have one, sometimes two on the list.
The Ford models taking home the prize this year are: the Ford Ranger (compact truck category), the Ford Flex (wagon over $35K), the Ford Fiesta (sedan under $20K), and the Ford Transit Connect (Van/Minivan).
Given the complexity of the calculations for the True Cost to Own it isn’t enough to just produce a cheaply priced car, especially if that car is going to require a lot of maintenance over the five year period. Ford was able to dominate this year by making cars that were not only economically priced but that are also extremely reliable and saved on fuel. The Fiesta, for example, shows a five-year estimated fuel cost of only $7,700 and repairs and maintenance cost of only $2,800 (and keep in mind that does include the cost of oil changes).
For the complete list of Edmunds.com award winners in this years True Cost to Own visit Edmunds.com.