Here’s What It Costs To Own A New Car In 2023

The good news is that with supply and demand forces in the new-vehicle business finally leveling out, and dealerships’ inventories again becoming flush, what were sky high transaction prices are finally edging back below MSRPs for many if not most models. The bad news is that regardless of its up-front cost, one still needs deep pockets to own a car these days.

We’ve long said that the best values in cars, trucks and SUVs are those that are the most affordable to own over time, specifically with regard to depreciation, financing rates, insurance premiums, fuel economy, and maintenance and repair costs. A given model that may seem like a true bargain on a dealer’s showroom can be a budget buster in the long run if it returns a paltry resale value, swills gas, and commands high insurance rates and costly trips to the service department.