Hyundai: Top Honours in 5-Year Cost To Own Awards
Hyundai has earned the highest possible achievement in offering the lowest possible ownership costs in the auto industry, says the latest award from Kelley Blue Book’s KBB.com. Recently, the industry authority named Hyundai the number-one mainstream brand for lowest predicted ownership costs, with an award based on careful studying of various factors applicable during the initial 5-year ownership period.
While depreciation, or the loss of a vehicle’s value, as well as fuel costs, may be the greatest expense incurred in owning a vehicle, numerous other factors are at play, which can have a tremendous effect on a consumer’s budget. Kelley Blue Book’s 5-Year Cost to Own information takes into consideration depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and more.
All considered, KBB.com awarded Hyundai their top honours for keeping ownership costs low, both for the short- and long-term.
“Kelley Blue Book’s 5-Year Cost to Own information evaluates the other out-of-pocket expenses drivers will incur beyond the initial purchase price, which helps consumers choose the vehicle that best fits their needs and their long-term budget, helping save money down the road,” said Dan Ingle, vice president of vehicle valuations, industry solutions, and international, for Kelley Blue Book.
“In addition to a low Kelley Blue Book “Fair Purchase Price” and low fuel, maintenance and repair costs across its full model lineup, Hyundai also has a mid-range depreciation and insurance cost, making it the 2016 5-Year Cost to Own Best Brand among all automakers.”
The Kelley Blue Book Fair Purchase Price is a representation of the price shoppers typically pay a dealer for a new car, based on actual transaction prices and adjusted as market conditions change. Some key models driving Hyundai’s success in this particular measurement include the 2016 Accent, Elantra, Sonata, Tucson and Veloster. Kelley Blue Book residual values are also used to calculate depreciation cost, by applying an accurate valuation methodology, as well as critical financing data.
All said, no other mainstream brand offers lower projected ownership costs than Hyundai, meaning shoppers can rest assured that their new vehicle will represent top-notch value, both in the short and long term.
“Hyundai’s mission is to make things better,” said Mike O’Brien, vice president, corporate and product planning, Hyundai Motor America. “Being named the overall brand winner in Kelley Blue Book’s 2016 5-Year Cost to Own Awards shows our commitment to create and build better vehicles across our lineup. We believe every owner deserves peace of mind.”
Other cost-saving measures are built into Hyundai’s models themselves, including a full range of engines equipped with fuel-saving GDI technology and fuel-saving 6-speed transmissions, as well as vehicle structures comprised largely of light and strong Advanced High Strength Steel, which supports top safety scores, as well as reduced fuel consumption through light weight. Hyundai models are also engineered to require minimal recurring tune-up and maintenance work.
For a look at the highly affordable and award-winning Hyundai lineup, visit with us today. The brand’s full 2016 model range is available for test drives now.