Kelley Blue Book Names 2023 5-Year Cost to Own Award Winners

Car Shoppers Save Money Over Time Purchasing Brands, Models with Lowest Projected Ownership Costs

ATLANTA, April 27, 2023 -- Beyond the upfront sticker price, smart car shoppers also should consider the long view and factor in a vehicle's total cost of ownership. Ongoing costs like fuel, maintenance, insurance and even vehicle depreciation can vary greatly from one model to the next. To help in-market car shoppers make wise purchase decisions, the experts at Kelley Blue Book, a Cox Automotive company, today name the 2023 model-year brand and category winners of the 5-Year Cost to Own Awards. These awards recognize new vehicles with the lowest projected ownership costs over the initial five-year ownership period.

"Many car shoppers would be shocked if they understood that cost of ownership can vary in staggering amounts from one vehicle to the next, potentially to the tune of thousands of dollars over time" said Janice Yoell, senior manager of valuations for Kelley Blue Book. "Paying attention to a vehicle's cost of ownership is imperative to make a smart purchase decision. For the third year in a row, Toyota and its luxury sibling Lexus take home the top brand prizes for 5-Year Cost to Own in 2023. Both brands feature several models with high residual values – meaning the vehicle holds its value well over time – leading to low vehicle depreciation, which is a key factor in determining cost of ownership."

2023 Kelley Blue Book 5-Year Cost to Own Award Winners

BRAND
TOYOTA

LUXURY BRAND
LEXUS

2023 KELLEY BLUE BOOK 5-YEAR COST TO OWN AWARDS: BY VEHICLE CATEGORY

Click On Winners Link For All Specs, Dimensions, Comparisons, Recalls, Service Bulletins, MSRP When New