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The 5-Year Cost to Own equation is complex and includes things like insurance, fuel economy and interest rates, although the biggest driver remains depreciation. What your vehicle is worth in resale over the long run will have a big impact on your overall costs. While many vehicles may compare favorably to the competition on initial purchase price, varying rates of depreciation result from not only the individual model’s desirability in the resale market, but also the brand’s reputation.
First place: Nissan Leaf
Predicted 5-year cost to own: $40,186
This latest generation Nissan Leaf put most of the doubts that had plagued previous iterations of Nissan’s NSANY, -7.00% pure-electric small car to rest. With a sleeker exterior shape that deserves a “most improved” prize, a modern interior that’s a pleasure to ride and drive in, and a pricing strategy that’s very competitive, the Nissan Leaf takes home KBB’s Best Electric Vehicle 5-Year Cost to Own Award for the third year in a row.
The Leaf’s heritage qualifications are summed up succinctly in our Expert Review: “Electric cars are all the rage these days, but while Hyundai, HYMTF, +19.63% Kia, and Chevrolet are relatively new to the game, the 2020 Nissan Leaf electric marks its 10th year of production. Only Tesla has a longer history of producing a cost-effective, mass-produced electric car.”
Starting at $32,525 for 2020 (including a $925 destination charge), the base-style Leaf is the only electric in this class can still get you near the $25,000 mark after you take advantage of the $7,500 federal tax credit. That Leaf, good for 150 miles on a full charge includes keyless entry, an 8-inch touchscreen, and (applause) Apple AAPL, -7.90% CarPlay and Android Auto.
Also see: Which is better, a Corolla or a Civic? We compare the 2020 models
Nissan’s Safety Shield 360 bundles a reassuring set of safety features that includes automatic emergency braking with pedestrian detection, blind-spot monitoring, and forward-collision warning. It comes standard, as does e-Pedal, where you just take your foot off the throttle pedal for efficient, battery-charging braking all the way to a complete stop.
If you need more range in your Leaf, the Leaf Plus models, starting at $38,200, deliver 226 miles — more than enough to make it your home-based daily driver, as long as you install a 240-volt Level 2 charger — and one more way that an electric car contributes to low-costs daily ownership.
Second place: 2020 Chevrolet Bolt EV
Predicted 5-year cost to own: $42,417
The Chevy Bolt
Chevrolet
Stretching to a best-in-class 259 miles of range for 2020, the Chevy Bolt EV offers surprising quiet and driving civility for such a small car. Learn more about the Bolt EV.
Also on MarketWatch: 8 affordable new cars that get at least 40 mpg
Third place: 2020 Hyundai Kona Electric
Predicted 5-year cost to own: $44,910
The Hyundai Kona
Hyundai
With 258 miles of pure-electric range and the best powertrain warranty in the business, the safety-laden Kona Electric is one of the smartest EV buys you can make.
This story originally ran on KBB.com.
