Kelley Blue Book Analysts Recommend Consumers Wait to Replace Current Vehicle Until Gas Prices Drop

Kbb.com Suggests 30 Vehicles Offering Roughly 30 Miles per Gallon for Those in Need of a New Ride Now

Mar 21, 2011, 05:00 ET from Kelley Blue Book

IRVINE, Calif., March 21, 2011 /PRNewswire/ -- Kelley Blue Book www.kbb.com, the leading provider of new car and used car information, today recommends that consumers who do not have a pressing need to replace their current vehicle wait for gas prices to come back down.  Since the beginning of the year, fuel prices have spiked 15.3 percent, primarily due to instability in the Middle East that has sparked fears of production halts.  With gas prices on the rise, Kelley Blue Book anticipates that fuel-efficient vehicle values will increase, while values for trucks and SUVs are expected to stabilize.  

In 2008, gas prices hit $4.00 per gallon and many consumers reacted by selling their trucks and SUVs in a panic and taking a significant loss, only to spend a premium for a new or used fuel-efficient car.  After it became apparent that this appreciation was largely driven by speculation rather than market fundamentals, gas prices came down sharply and values eventually leveled off.  With this in mind, consumers should be cautious as they decide whether or not to sell their vehicle for something more fuel efficient.  

Gas prices are expected to eventually drop; however, in the short term, consumers should prepare to continue to pay a premium at the pump at least through 2011.  Gas prices will remain high until the situation in the Middle East is resolved, but consumers should only sell their current vehicle if their budget forces them to do so.  

In the event that drivers need to switch to a more fuel-efficient vehicle, Kelley Blue Book analysts have provided a list of 30 new vehicles offering roughly 30 miles per gallon or greater.  

30 New Vehicles Offering (roughly) 30 MPG or Greater - MY2011

Model

MSRP

Kbb.com

FPP

MPG

Cash

Incentive

60 Mo.

APR

Annual Fuel Expense @ $3.57/gallon

Annual Finance Expense

5-Year Fuel & Finance Expenses

Subcompact & Compact

Nissan Versa

$12,010

$11,650

30

-

1.9%

$1,785

$2,689

$22,368

Toyota Yaris

$13,615

$13,343

32

$500

1.9%

$1,673

$2,964

$23,187

Ford Fiesta

$13,995

$13,785

33

$500

5.2%

$1,623

$3,325

$24,741

Hyundai Elantra

$14,865

$14,716

33

-

3.9%

$1,623

$3,569

$25,957

Honda Insight

$18,950

$18,666

41

$1,250

0.9%

$1,306

$3,920

$26,129

Kia Soul

$13,995

$13,715

28

-

5.2%

$1,913

$3,433

$26,728

Honda Fit

$15,850

$15,612

29

-

0.9%

$1,847

$3,514

$26,802

Nissan cube


$15,040

$15,040

28

-

1.9%

$1,913

$3,471

$26,918

Chevrolet Cruze

$16,995

$16,485

33

-

2.9%

$1,623

$3,900

$27,616

Ford Focus

$17,365

$16,931

29

-

0.0%

$1,847

$3,725

$27,857

Scion xD

$15,765

$15,765

29

-

5.2%

$1,847

$3,946

$28,964

Toyota Prius

$22,410

$22,186

50

$500

2.9%

$1,071

$5,131

$31,009

Honda Civic

$24,700

$23,342

41

$1,500

0.9%

$1,306

$4,916

$31,110

Honda CR-Z

$20,095

$20,095

37

-

5.2%

$1,447

$5,030

$32,387

Mini Cooper

$20,100

$20,100

32

-

5.2%

$1,673

$5,031

$33,524

Nissan LEAF

$33,630

$33,630

99

-

5.2%

$541

$8,418

$37,294

Volkwagen Jetta

$23,765

$23,765

34

-

5.2%

$1,725

$5,949

$38,368

Volkswagen Golf

$24,295

$24,052

34

-

5.2%

$1,725

$6,021

$38,728

Chevrolet Volt

$41,000

$41,000

93

-

5.2%

$576

$10,263

$46,693



Model

MSRP

Kbb.com

FPP

MPG

Cash

Incentive

60 Mo.

APR

Annual Fuel Expense @ $3.57/gallon

Annual Finance Expense

5-Year Fuel & Finance Expenses

Mid-Size & Crossover

Hyundai Sonata

$19,915

$19,915

28

-

3.9%

$1,913

$4,829

$33,710

Nissan JUKE

$19,760

$19,760

29

-

5.2%

$1,847

$4,946

$33,964

Kia Optima

$19,690

$19,690

28

-

5.2%

$1,913

$4,929

$34,206

Toyota Camry

$27,435

$26,612

33

$2,000

0.0%

$1,623

$5,415

$35,187

Ford Fusion

$29,100

$28,518

39

$500

0.0%

$1,373

$6,164

$37,685

Nissan Altima

$27,530

$27,530

33

-

1.9%

$1,623

$6,354

$39,882

Ford Escape

$30,825

$29,900

32

$500

0.0%

$1,673

$6,468

$40,707



Model

MSRP

Kbb.com

FPP

MPG

Cash

Incentive

60 Mo.

APR

Annual Fuel Expense @ $3.57/gallon

Annual Finance Expense

5-Year Fuel & Finance Expenses

Luxury

Lexus CT 200h

$29,995

$29,995

42

-

5.2%

$1,275

$7,508

$43,915

Lincoln MKZ

$35,455

$34,746

39

-

5.2%

$1,373

$8,697

$50,352

Lexus HS 250h

$36,475

$36,475

35

-

5.2%

$1,530

$9,130

$53,301

LexusRX 450h

$44,110

$44,110

30

-

2.9%

$1,785

$10,436

$61,107



*Annual and 5-year costs assume 15,000 miles driven per year Color Key  

**5-Year APR finance incentives provided where available, otherwise average rate of 5.2% is used  Hybrid  

***Volt & LEAF include $7,500 tax credit which is deducted from 5-year vehicle cost total  Electric  

****MPG reflects combined fuel economy calculated by the EPA  Diesel  

*****Finance expense includes 10% tax & license charge and assumed $0 down payment  Gasoline  

******Diesel fuel price for VW TDI assumes $3.91/gallon

*******Kbb.com’s Fair Purchase Price (FPP) is the amount consumers typically are paying for a vehicle.  It is based on actual new-vehicle transactions from across the country and adjusted regularly as market conditions change.  




"For those in the market to switch to a more fuel-efficient car, we suggest looking at subcompact vehicles to get the most bang for your buck," said Alec Gutierrez, manager of vehicle valuation for Kelley Blue Book.  "While they are not necessarily the most amenity-laden cars on the market, the Nissan Versa, Toyota Yaris and Ford Fiesta offer competitive fuel economy in an affordable package."  

Hybrid and electric vehicles may offer the best raw fuel-economy figures, but based on their high upfront cost, they become more expensive in the long run.  For example, a new Toyota Prius will cost a consumer more than $32,000 during five years of ownership, based on fuel and financing costs.  Conversely, a gasoline-powered highly fuel-efficient vehicle like the 2011 Hyundai Elantra will only cost $28,000 during the same period.  

For more information and news from Kelley Blue Book's kbb.com, visit www.kbb.com/media, follow us on Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), or like our page on Facebook at www.facebook.com/kbb

About Kelley Blue Book (www.kbb.com)

Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only vehicle valuation and information source trusted and relied upon by both consumers and the industry.  Each week the company provides the most market-reflective values in the industry on its top-rated website www.kbb.com, including its famous Blue Book® Trade-In and Retail Values, and Fair Purchase Price, which reports what others are paying for new cars this week.  The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, as well as governmental agencies.  Kbb.com is a leading provider of new car prices, used car values, car reviews, new cars for sale, used cars for sale and car dealer locations. Kelley Blue Book Co., Inc., is a wholly owned subsidiary of AutoTrader.com.

SOURCE Kelley Blue Book



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