When trying to conserve financial resources while shopping for a vehicle, it’s tempting to look at the cars with the lowest sticker prices as a means to save money. While this might be beneficial in the short run, the initial purchase price is only one aspect of car ownership responsibilities. As Kelley Blue Book is keen to point out, the cheapest car may not in fact be the most affordable.
Fortunately, KBB performs a lot of research and is endowed with a wealth of data to determine what the most affordable cars actually are. Factors taken into consideration are the sticker price, fuel economy, and the cost-to-own metrics spanning out five years that KBB calculates.
“When you consider a car’s resale value, plus fuel, financing and insurance costs, sometimes the best way to save money in the long run is to spend more up front,” the site says.
Here are the KBB’s ten most affordable to own cars for 2014.
10. Hyundai Accent
Hyundai is perhaps most well-known for offering a lot of car for not a lot of money. Since first coming to the U.S. in the 1990s, Hyundai’s resale values have surged northward, and its cars are now better quality and more efficient than ever before; not only are Hyundai’s still on the cheaper side of the spectrum, but they’re cheap to maintain and offer one of the industry’s best warranties. The Accent starts at $14,645 and offers nearly 40 miles per gallon on the highway, making it a solid choice for the frugal all the way around.