Car buyers with problem credit that qualify for a new car auto loan may want to check out what Kelley Blue Book had to say when it compared the five year total cost of ownership of a number of compact cars
How to Buy a New Car with Bad Credit
What we know

One of the keys to successfully completing the auto loan process for consumers with questionable credit is an understanding of the total cost of vehicle ownership.

At Auto Credit Express we have come to realize how important this is after spending more than two decades helping car shoppers with bad credit searching for online car loans find those dealers that can offer them their best opportunities for a loan approval.

This is because once applicants are approved it's time to look at which of those vehicles they qualify for will, in the long run, end up being more affordable to own and operate.

Kelley Blue Book

Not long ago Kelley Blue Book's published a report that looked at the vehicles with the best Total Cost of Ownership among cross-shopped models for both the Chevrolet Cruze and the Honda CR-V – which, at the time, were two of the most-researched vehicles on their website.

For purposes of this discussion, the CR-V, along with those vehicles cross-shopped with it, is probably too expensive to finance for most buyers facing credit problems. On the other hand the Chevrolet Cruze, along with its cross-shopped vehicles, could fit the budgets of many car buyers with poor FICO scores.

"With Total Cost of Ownership information, consumers can better understand the financial implications associated with the initial five years of owning a car," said Juan Flores, director of vehicle valuation for Kelley Blue Book.  "As Kelley Blue Book's data reveals, depending on the model's MSRP, fuel costs and other financial factors, other models on their consideration lists could offer a greater value over time."

Total ownership costs

Here is the list of the rankings of the top five vehicles with's lowest five-year ownership costs that were crossed-shopped with the Chevrolet Cruze:

Rank    Model            5-Year Total Cost of Ownership
1    Toyota Corolla      $32,811
2    Hyundai Elantra    $34,123
3    Chevrolet Cruze     $34,705
4    Honda Civic           $36,344
5    Ford Focus           $36,591
6    Volkswagen Jetta   $36,865

According to, "The Chevrolet Cruze, a most-researched car on, has become a top-selling vehicle in its segment and for General Motors. However, Kelley Blue Book's data reveals that other models may offer competitive ownership costs during the initial five-year period.  On, consumers in the market for a Chevrolet Cruze also are considering the Toyota Corolla and Hyundai Elantra.  Both models provide lower ownership costs at $32,811 and $34,123, respectively.  The Chevrolet Cruze sits in the No. 3 spot, followed by Honda Civic, Ford Focus and the Volkswagen Jetta."

Cost calculations

The 5 year total cost of ownership includes depreciation expenses which are computed using KBB's own residual values while it "calculates total ownership costs for new vehicles by applying a sophisticated valuation methodology along with critical financial data from third-party providers."

As we see it

For consumers that find themselves in the position of having to reestablish their car credit, the vehicle they choose not only has to meet their transportation requirements it should also be affordable to both own and operate.

For those finding themselves in this position we hope the information supplied by Kelley Blue Book will help in their decision process.

One more helpful bit of information: Auto Credit Express matches people that have experienced car credit difficulties with those new car dealers that can offer them their best chances for car loan approvals.

So if you're ready to reestablish your auto credit, you can begin now by filling out our online car loan application.