What is the biggest cost of car ownership?

Depreciation is the largest cost — the average new car loses 15-20% of value in year 1 and about 50% over 5 years. A $40,000 car depreciates to approximately $20,000, a $20,000 cost regardless of financing.

How does an EV compare to a gas vehicle in TCO?

EVs typically cost 3-5 cents per mile in energy vs 10-15 cents for gas. Lower maintenance partially offsets higher purchase price and insurance.

What vehicles have the lowest TCO?

Consumer Reports and Kelley Blue Book consistently rank Toyota, Honda, and Mazda among the lowest TCO. Luxury vehicles and American trucks typically have the highest 5-year ownership costs.

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Frequently Asked Questions

What is the biggest cost of car ownership?

How does an EV compare to a gas vehicle in TCO?

What vehicles have the lowest TCO?