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As we head into 2014, it is a timely reminder to all car buyers thinking about purchasing a new or used car that it pays to look beyond the purchase price of a vehicle and consider what it will actually cost to OWN and RUN for the next 3 or more years.
Depreciation is a new car’s largest expense and it can wipe out as much as 70 per cent of a car’s value in just 3 years. Other factors to consider are the cost of fuel, the cost of servicing and maintenance costs.
See below to find out the UK’s top 5 cheapest cars to own in 2013.
VW Up! 1.0 Take Up 3-door: Priced from £8,210
The popular VW Up! city car was released in 2012 and has since become a huge success amongst those looking for a cheap city runabout which offers a good quality cabin, sound performance and the promise of a sturdy and reliable badge. Running costs accumulate to £280.80 per month according to CAP, meaning the total cost to own over a three year period if in fact £10,108.92. Factors which contribute to the ever-increasing popularity of the VW Up! are low depreciation and low purchase price, meaning you’ll save money when it comes to resale.
Skoda Citigo 1.0 MPI S 3-door: Priced from £7,935
The Skoda Citigo has all of the engine capability and performance of the VW Up! sharing the same reliable engine, but it is offered with a slightly lower price tag which adds to its appeal. The downside is that the Citigo doesn’t have the same quality interior as the VW Up! and is not nearly as stylish in looks, but if you are looking for a cheap city runabout then it’s definitely one for the short-list. Monthly running costs are £282.22 according to CAP making the total cost to own the Skoda over a period of 3 years, £10,159.92.
Seat Mii 1.0 S 3dr: Price £8,005
The Seat Mii is a classy and sophisticated city car which you’d be proud to own, furthermore, its offered with an attractive price tag. It’s economical, well built and cheaper than many other rivals, not to mention the fact that it is almost identical in its make-up to the popular VW Up! Inside the cabin is surprisingly spacious with an impressive boot space. To own it will cost you £284.83 per month and a total of £10,253.92 in three years.
Kia Picanto 1 1.0 3-door: Price £7,990
The Kia Picanto is one of the cheapest city cars on the market with sporting an interior which rivals many other more expensive models. Most versions have plenty of equipment as standard and the Picanto comes with Kia’s very own 7 year warranty which comes as standard and unrivalled by any other manufacturer. The Kia Picanto costs £285.99 to own with a total cost of £10,295.65. The Picanto depreciates quite fast in value but its low fuel costs help to maintain its appeal.
Dacia Sandero 1.5dCi Ambiance 5-door: Price £8,540
The Dacia Sandero is one of the cheapest cars on the market to purchase with prices for a new model starting at £5995. It offers low running costs as well as a practical, roomy cabin and a selection of sound engines to choose from. It’s not the most high-tech of city cars but what you see is what you get – a likeable car with plenty of space and practicality. The only catch is that you’ll have to pay extra on top of the standard model for simple equipment such as a CD player and air conditioning. The cost to run the Dacia according to CAP is £287.02 with a total cost of £10,332.71 over 3 years.