Toyota Camry’s 5-year cost of ownership vs. Competition
The True Price of a New Car
The price you agree upon on the day you drive your new car off of the lot is not the whole story on the cost of the car. You should also consider the money you will spend on maintenance, financing, insurance and other factors. The resale value of a car is an important consideration; all cars depreciate, but a car that is known to be reliable is more popular with consumers and will hold more of its value for a longer time than other cars.
Cost Comparison for a New Toyota Camry
For consumers looking for a new mid-size sedan, there are a few good options on the market; how will you know which one is best for you? When it comes to accolades, the Toyota Camry has been voted by experts as 1 of 10 best sedans under $25,000, 1 of 10 most comfortable cars under $30,000 and 1 of 15 best family cars. It has a roomy interior, easy access controls and delivers a smooth ride. The 2016 Toyota Camry holds an NHTSA 5-star overall safety rating. With a safety rating like that, it’s unsurprising that the Camry has been the best-selling car in America for 14 years running, according to manufacturer estimates.
Economical and Reliable
The Camry has been a consumer favorite for years because of its quality, durability and comfort, but this car is also surprisingly affordable. Compared to other vehicles in its class, the Camry will save you nearly $1800 in the first five years of ownership; even the budget-friendly Honda Accord will cost you an additional $629 over the same time frame, and the Nissan Altima as much as $3,640 more. This cost estimate includes depreciation, financing, insurance, fuel, state fees, repair and maintenance.
This car will keep up with you and your driving demands; 90 percent of all Camrys that were sold over the last ten years are still on the road today. The Camry has an inline four cylinder 178 horsepower engine and 170 pound-feet of torque. It’s this no-nonsense engine that gives the Camry its enviable fuel mileage of 33 mpg on the highway and 24 mpg in the city without an additional electrical power source.