Person using calculator

Buying a Car? Ignore the Sticker Price and Calculate the Total Cost of Ownership


When making a car buying decision, the total cost of ownership is a much more financially astute way to find the most car for your money. The car’s price tag is important, but it only tells a small part of the story. Consider the price difference between a Toyota Highlander and an equivalent car such as a Ford Explorer. The price of the Toyota is more than $3,000 higher than the Ford, but when the total cost of ownership over five years is factored in, the Ford will end up costing nearly $7,000 more. Over a five year period, the costs of depreciation, fuel, financing, insurance and maintenance will have much greater impact on total ownership than the sticker price. Perhaps the biggest cost factor is the resale value of the car at the end of five years.

Personal – Saving, Planning & Budgeting

Ready to explore how Sunflower Bank can assist you? Speak to a personal banker at a branch near you, contact a specialist on our Wealth Management team, or find the right financial partner on our Commercial Banking team for your business needs. 

Back to Resource Articles

This article contains general information only. Sunflower Bank is not, by means of this article, rendering accounting, financial, investment, legal, tax, or other professional advice or services. This article is not a substitute for such professional advice or services, before making any decisions related to these matters, you should consult a qualified professional advisor.