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(Transportation-News.com, July 23, 2013 ) Queensland, Australia -- A new study by CarFinance.com looked at the cost of buying a car for people with subprime credit and took into account taxes, loans, down payment, insurance and fuel efficiency. First off, the best car buyers are informed buyers, so the cost at purchase and the upcoming maintenance fees for the upcoming year need to be taken into consideration.
CarFinance.com found the fice cheapest cars based on Actual Cost of Ownership (ACO) over the first 5 years of owning the vehicle. These purchases assumed 15,000 miles driven annually, financed below-prime credit rating with a 10 percent down payment, with a loan term length of 60 months, a fair purchase price for all vehicles provided by the kelley blue book website and estimates based on national averages and vehicle model estimates.
The Toyota Corolla or Matrix was the most affordable car based on ACO at $41,261. Next was the Honda Civic at $43,714, then the Nissan Altima, Honda Accord, and finally Ford Fusion.
The purpose of the study, according to CarFinance.com, was to show people that, while it may be easy to look at price tags on a sale lot, it is more responsible to take into consideration the actual cost of maintaining that vehicle over the years. Finding cars that get good gas mileage, are cheap to fix and are reliable are always the best bargains, whether they are as appealing to the eye or not.
About LogansCheapestCars.com.au
Logan’s Cheapest Cars (http://www.loganscheapestcars.com.au/) has over 100 of the best second hand cars brisbane under $5,000. Whether you’re looking for a small car to get to and from work in or you need a 4x4 to get the job done, Logan’s Cheapest Cars has what you need. View the website to see what’s in stock today or visit the lot on 13 Kingston Road in Woodridge QLD.
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Source: EmailWire.Com 
Source: EmailWire.com
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