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Compact Hatchback
2011 Honda Element
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With a cost of ownership that was 5.5% lower than expected, the Honda Element was a winner for the third year in a row by a wide margin in the eight car compact hatchback segment. Its below average rate of depreciation, plus low insurance and repair costs were the key drivers behind the victory over the second place Kia Forte.
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| |
| 2011 Honda Element LX 4D Utility 2WD at |
| Cost Item |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
Total |
| Depreciation: |
$5,587 |
$1,656 |
$1,407 |
$1,380 |
$1,351 |
$11,381 |
| Fees & Taxes: |
1,220 |
83 |
89 |
76 |
82 |
$1,550 |
| Finance: |
917 |
736 |
543 |
339 |
122 |
$2,657 |
| Fuel: |
2,084 |
2,158 |
2,235 |
2,314 |
2,397 |
$11,188 |
| Insurance: |
1,064 |
1,053 |
1,043 |
1,033 |
1,024 |
$5,217 |
| Maintenance: |
84 |
241 |
182 |
1,388 |
84 |
$1,979 |
| Opportunity Cost: |
44 |
74 |
105 |
142 |
176 |
$541 |
| Repairs: |
0 |
0 |
328 |
547 |
547 |
$1,422 |
| Total: |
$11,000 |
$6,001 |
$5,932 |
$7,219 |
$5,783 |
$35,935 |
| Vincentric's Best Value in America awards are based on the model level average of all trim levels within the model. Ownership costs for each trim level are measured at annual mileages of 10,000, 15,000, and 20,000. Results shown above assume 15,000 miles per year for the trim level described. |
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