Nissan Versa leads top-10 cheapest new cars to own

The 2011 Nissan Versa is the least expensive car in the United States to own and operate for five years, according to a new report on the website of the business publication, Kiplinger.

The five-year cost of ownership assessment, published on Kiglinger.com, includes the purchase price, down payment, interest on the car loan, insurance, depreciation, taxes and fees, fuel, service and repairs.

The Versa and the other cars on the list are all compacts or subcompacts because, according to the report, “They tend to have the lowest market price, the best fuel economy, and reasonable insurance rates since premiums tend to rise with horsepower.”

The Nissan Versa averages 26 mpg (city) and 34 mpg (highway), has six airbags standard, but has an additional $250 charge for its anti-lock braking (ABS) system.

The Nissan Versa’s other five-year statistics: Depreciation, $6,874; Fees & taxes, $905; Financing 5-year loan at 5.95%, $1,371; Opportunity cost of a 15 percent down payment, $452; Maintenance, $1,917; Repairs, $1,406.

Here’s the list of the 10 least expensive 2011 models to own and operate for five years:

1. Nissan Versa (four-door base)
2. Hyundai Accent GL (two-door hatchback)
3. Chevrolet Aveo5 LS (four-door hatchback)
4. Ford Fiesta S (four-door)
5. Mazda2 Sport (four-door hatchback)
6. Toyota Yaris (four-door)
7. Kia Rio (four-door)
8. Kia Soul (four-door hatchback)
9. Honda Insight (four-door hatchback)
10. Ford Focus S (four-door)

To read the cost of ownership report, visit: Kiplinger.com.