Subaru cars have always been well-regarded for their longevity (among other things) and now, they are getting a prestigious affirmation.
Consumer Affairs reports that the Subaru has been awarded the 2015 Kelley Blue Book 5-Year Cost to Own Award for economy (non-luxury) cars. Granted by Kelley Blue Book (KBB), the leading automotive consumer report publication in the United States, the award goes out to new car brands which have the projected lowest cost of ownership during the first five years of ownership.
The award is divided into two categories: brand cars and luxury brand cars. The luxury brand winner this year, Lincoln, is also projected to have the lowest cost of ownership through 2020.
“New car shoppers usually pay a lot of attention to how much a car will cost upfront,” said Dan Ingle, Vice President of Vehicle Valuations for Kelley Blue Book. “However, sometimes an even more expensive car on the front end can actually save you money during the first five years of ownership by having low total ownership costs. 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 fits their needs and their long-term budget best, helping save money down the road.”
The “out-of-pocket” expenses Ingle refers to include “depreciation” or loss of value, which naturally occurs whenever a new vehicle is purchased. Also included are gas prices, insurance payments, routine maintenance work (e.g. oil changes, tire rotations, inspections), and potential repair needs. Taking these factors into consideration, the KBB awarded Subaru its annual award due to its low depreciation values as well as its long-term durability.
This is welcome news for Subaru owners, who can expect to see a high trade-in value after five years (assuming they keep their car in good condition), as well as Subaru lessees; lease payments, after all, are based on the difference between the car’s initial value and its depreciation value.
The KBB also considers Subaru vehicles to have stellar purchasing prices and fuel economy. Because of this, the consumer report also give the Japanese carmaker its 2015 Best Resale Value Award in the “overall brand award” category.
“Subaru is built with dependability and higher resale value in mind. They haven’t build a whole lot of vehicles compared to the rest of the market because they’re so focused on reliability,” said Shane Romee, sales manager at Hudiburg Subaru. “They’re not a throwaway brand; their cars are meant to last and it’s no surprise that they’ve won as many awards as they have.”