While initial price is always a prime issue when purchasing a new vehicle, the ultimate "best deal" also entails considering a number of other significant factors that can have an equally meaningful impact on long-term out-of-pocket expenses.

Thanks to a study done by Kelley Blue Book, the world's most experienced and trusted automotive pricing organization, we can compare beyond a car's price tag and see the big picture cost of a vehicle over five years of ownership.  KBB's annual comprehensive review factors in the following valuation criteria:  Fair purchase price (FPP), projected depreciation, financing costs, Insurance costs and state fees as well as the anticipated total cost of fuel, scheduled maintenance and repairs.

While this study is nothing new for KBB, this year they took it one step further and formally recognized the best-in-class entries with the inaugural Kelley Blue Book 2012 Total Cost of Ownership Awards, in conjunction with the 2012 Chicago Auto Show.

Among the esteemed winners were multiple models each from both Hyundai and Chevrolet.  The 2012 Hyundai Sonata was named best midsize car, with a 5-year ownership cost of $38,476.  Factors like its low insurance costs and supreme fuel economy helped the Sonata edge out the Kia Optima in second place.   Another win for the Korean automaker was the 2012 Hyundai Santa Fe, which took the ribbon in the crossover segment, with a 5-year ownership cost of just $42,628.  Thanks to the Santa Fe's low purchase price, low long-term depreciation, and low maintenance and insurance cost, it easily outpaced the Kia Sorento in this class.

2012 Hyundai Sonata Lowest Cost of Ownership Mid Size Car Category

2012 Hyundai Santa Fe Lowest Cost of Ownership Crossover Category

 
American-made Chevrolet vehicles also topped KBB's awards list.  The 2012 Chevrolet Impala won in the category of full-size car, with a 5-year ownership cost of $47,957.  KBB cited its low purchase price and high fuel economy in gaining an advantage over the Ford Taurus competitor.  Also weighing in on the Chevy side was the 2012 Chevrolet Silverado 1500 in the full-size pickup truck category, with a 5-year ownership cost of $49,371.  The Silverado edged out the second place GMC Sierra 1500 with its fair purchase price, financing and insurance costs and state fees. Chevrolet made it a hat-trick with the 2012 Chevrolet Volt, which took the award in the electric car segment, with a 5-year ownership cost of $40,629.  The Volt's lower maintenance and insurance costs easily surpassed competitor Nissan LEAF to score the win.

2012 Chevrolet Impala Lowest Cost of Ownership Full Size Car Category

2012 Chevrolet Silverado 1500 Lowest Cost of Ownership Full Size Pickup Truck Category

2012 Chevrolet Volt Lowest Cost of Ownership Electric Car Category

 
To see the full list of Kelley Blue Book's winners, click here.