Vehicle ownership is a costly endeavor. The sticker price of a new car is just the beginning as there are many other costs involved over the life of a vehicle. Kelley Blue Book has developed a formula to determine the 5-Year Cost to Own of every popular brand. The 2020 Acura ILX has come out on top three years in a row. The entry-level sedan ranks first among luxury brands and is considered to be the most affordable car in its class.
How Kelley Blue Book determines the 5-Year Cost to Own
When determining the 5-Year Cost to Own amount, Kelley Blue Book looks at the initial purchase price plus the rate of depreciation. They then look at the anticipated resale value based on the brand’s reputation and desirability of the specific model. Other factors include interest rates, fuel economy, and insurance costs to determine where each brand ranks.
The data is compiled to help consumers make an informed decision when purchasing a new vehicle. Sometimes the less expensive car ends up costing more in the long run. Kelley Blue Book claims, “This data allows consumers to see the big picture of what a new vehicle will cost them over time, helping shoppers save money by choosing a vehicle that best meets their needs and their long-term budget.”
The 2020 Acura ILX has won the award three years in a row
Acura is considered to have the lowest 5-Year Cost to Own among luxury brands, performing well above average in vehicle ownership costs. Their reputation for dependability combined with cutting-edge styling and exceptional build quality helps the Acura brand gain recognition from Kelley Blue Book year after year.
With an MSRP of $26,895, the luxurious 2020 Acura ILX sedan is one of the most cost-effective models among similar competing brands. According to Kelley Blue Book, “Affordable pricing, low maintenance costs, and high resale value are key to Acura taking this year’s 5-Year Cost to Own for Luxury Brands.”
Class-leading luxury sedan
The 2020 Acura ILX is considered to be the best entry-level luxury car with a predicted 5-Year Cost to Own price tag of $40,146. The 5-passenger sedan offers affordability to a class that is filled with higher-priced vehicles. The 2020 Acura ILX utilizes a 2.4-liter four-cylinder engine that puts out 201 hp while providing great fuel economy. The eight-speed automatic surpasses most of its competitors.
Drivers will delight in the comfort of the heated 10-way power seat. Standard features that include keyless entry and a moonroof add to the luxurious feel of the Acura ILX. Advanced safety features, and precision handling, make the vehicle not only fun to drive but a leader in its class.
Kelley Blue Book continually selects this model, saying, “The ILX offers a greatest-hits of values that make it easy to own and drive for comfortably under $30,000.”
Cheaper to own compared to others in its class
Coming in at second place on Kelley Blue Book’s list is the 2020 Audi A3 that offers similar features and low cost-to-own value. The difference between the two is that the 2020 Acura ILX is $6,000 less to own than the Audi A3, which has a predicted 5-Year Cost to Own value of $46,590. That’s a considerable amount of savings when it comes to vehicle ownership, and that could be a deciding factor for consumers looking for an entry-level sedan.
Third place on this year’s list is the 2020 Acura TLX, which was awarded the third-place ranking with a predicted 5-Year Cost to Own price of $46,998. With a starting MSRP of $34,000, the overall cost of vehicle ownership is close to $7,000 more than the 2020 Acura ILX.