Many factors contribute to total cost of vehicles

A cheaper car can cost you more in the long run than a more expensive model, so consider how much that model will cost you to own. Consumer Reports says these factors contribute to total cost:

• Depreciation. This is a vehicle's loss in value over a defined period. Some vehicles depreciate faster than others because of oversupply, limited appeal or rebates on similar new models.

• Fuel costs. They can really add up, especially for SUVs. You could pay more than $10,000 to fill up a Dodge Nitro over five years, for example, while a more efficient RAV4 would cost $2,000 less.

• Interest. To obtain an estimate, assume a 15 percent down payment and use the average interest rate of 6.86 percent as reported by Bankrate.com in December to estimate the total charge.



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