Consumer Reports: Cheap Cars Can Cost A Lot

[drey]

What's your reaction to this? I don't believe in Consumer Reports every since actually. So do you believe an Alto will cost a lot to maintain than a Mini Cooper?

Down the road, cheaper cars and trucks may actually cost more than expensive ones. According this year's Annual Auto Issue from Consumer Reports, vehicles with lower price tags may end up costing their owners more than the more expensive alternatives available at the lot.

According to CR, over the first five years of ownership, a Mitsubishi Lancer could end up costing $3,000 more to own than a Mini Cooper, a car that initially costs $5,000 more to purchase.

Based on their study of more than 200 newer cars, CR has compiled data that allows car buyers to compare owner costs.

CR's 2008 Auto Issue factors six expenses into its owner-costs comparisons: depreciation; fuel; interest, based on a five-year car loan; insurance; maintenance and repair; and sales tax (based on a national average) for each individual vehicle.

Depreciation is factored into these expenses under the assumption that the vehicles will be traded in after five years.

The 2008 Auto Issue is available now in newsstands until June 4 as well as online at the Consumer Reports Web site along with other true-cost comparison tools.

CR's calculations show the most expensive vehicle to drive for five years is the Mercedes-Benze S550, costing approximately $101,750. The cheapest: the Toyota Yaris at about $23,250.

Consumer Reports is one of the most trusted sources for consumer products and services, conducting some of the most comprehensive auto tests of any U.S. publication. With CR's newest information, car shoppers should have a better knowledge of what it truly costs to own and drive a vehicle.

CR's 2008 Auto Issue factors six expenses into its owner-costs comparisons: depreciation; fuel; interest, based on a five-year car loan; insurance; maintenance and repair; and sales tax (based on a national average) for each individual vehicle.

Depreciation is factored into these expenses under the assumption that the vehicles will be traded in after five years.

CR's calculations show the most expensive vehicle to drive for five years is the Mercedes-Benz S550, costing approximately $101,750. The cheapest: the Toyota Yaris at about $23,250.

Consumer Reports is one of the most trusted sources for consumer products and services, conducting some of the most comprehensive auto tests of any U.S. publication. With CR's newest information, car shoppers should have a better knowledge of what it truly costs to own and drive a vehicle.

[Memphis Raines]

Very interesting and will be the subject of much debate here I'm sure.

I will take this with just a grain of salt simply because the first key word that I read in the report is 'may'. It may cost more in the long run but not necessarily, especially that one of the factors for this conclusion is that the vehicles in comparison are under a five-year car loan and I guess we all know how much that costs here on our shores.

Although the comparison between the MB S550 and Toyota Yaris is obviously accurate, I just can't help but also compare a Ford Expedition against its brother, the Everest. The Everest is cheaper but then Exped gets the boot when it comes to maintenance (like the fuel alone) and resale value.

[drey]

Again, they are comparing a Mini Cooper against a Mitsubishi Lancer? Iba ang FC, and a retro mini car vs. a sedan?

[niky]

This is a "may". There's a flaw in the methodology there, somewhere.

Take note that the Lancer is a bigger car, with a bigger engine and worse fuel consumption. If you compare like-to-like, the Mini would cost more than a Honda Fit or a Chevrolet Aveo down the road.

Resale value really skews the picture, simply because the Mini has one of the most ridiculous resale values on the planet. They're even crazier than Hondas. People are willing to pay big bucks for a secondhand one, just for the looks.

[alwayz_yummy]

yup 300t+ just to look like Mr.Bean on the road..on the other hand...well enthusiasts...just the some bugs(vw beetles) and combi vans na grabe resale ng restored ones

[Type 100]

Personally I don't believe this.

A lot depends on how you use the car, I think. For all we know, new Minis might not even be daily driven because owners are too scared of spoiling the looks.

Besides, Niky is correct, depreciation on BMW-made Minis is ridiculous. How well do you think will even the brand-spanking-new Lancer retain its value? Obviously that's a very unfair comparison and it undermines the credibility of Consumer Reports.

My two cents

[impulzz]

wala kasi silang Banawe... puro casa sila kaya mahal parts and labor nila

[rai2k8]

What is the report trying to imply? It doesn't make any sense.