A study by Edmunds.com reveals that the Jeep® Patriot is the least expensive sport-utility vehicle to own at 48.6 cents per mile. The results are based on Edmunds.com’s True Cost to Own data, which incorporates projected model-specific average vehicle ownership costs, consisting of depreciation, financing, taxes, fees, insurance premiums, fuel costs, maintenance and repairs. The data accounts for total vehicle costs over a five-year period.
“Even though gas prices are high, some consumers are still in search of a sport-utility vehicle to meet their needs,†Jesse Toprak, executive director of industry analysis at Edmunds.com, said. “For those consumers, vehicles like the Jeep Patriot are relative bargains in their segments.â€
In the large SUV category, the Dodge Durango comes in at number one, at a cost per mile $.706.
Edmunds.com’s True Cost to Own calculations make the following assumptions: Ownership expenses are for a five-year time span; vehicles are driven 15,000 miles per year; vehicles are financed using traditional financing and not leased; buyers pay 10 percent down on the vehicle; buyers are in the “Gold†credit tier for the purpose of determining the finance rate; the loan term is 60 months; buyers represent the average demographic in their state for insurance rates.
