FOR IMMEDIATE RELEASE
Automotive Consumers Can Learn Five-Year Vehicle Ownership Costs in Their Own ZIP Codes Using Edmunds.com's New "True Cost to OwnSM" Research Tool
Santa Monica, CA - May 13, 2002 - Consumers can now easily review and consider all significant long-term financial costs when deciding which new vehicle to purchase. Edmunds.com, the Web's leading consumer resource for unbiased automotive information, today announces the launch of True Cost to OwnSM (TCO), a research tool that provides the estimated five-year costs of automotive expenses for 2002 vehicles, regionalized by ZIP code.
The TCO tool itemizes estimated regional year-by-year costs for depreciation, financing, insurance, taxes, fees, fuel, maintenance and repairs, including parts and service charges. These amounts are then totaled and presented in terms of the estimated cost for each of the first five years and the average cost per mile for that period.
In addition, the tool provides yearly ownership cost estimates for the selected vehicle's competitors, so that shoppers can see how a chosen vehicle compares to others that may also be of interest.
"The TCO tool provides meaningful information that smart consumers will use in making their new vehicle purchases, helping ensure that they buy vehicles they can afford to own," said Bob Kurilko, Vice President of Product Development and Marketing for Edmunds.com. "Before the launch of TCO, it would have been very difficult for consumers to predict post-purchase vehicle expenses in this detail."
Edmunds.com plans to enhance TCO in the near future by allowing further customization of the expense factors and extending the vehicle research options beyond the 2002 model year.
The following table displays today's purchase prices and estimated five-year ownership costs for a range of popular 2002 model year vehicles in the Chicago area:
|Vehicle*||Purchase Price**||True Cost to OwnSM|
|Honda Civic DX 2dr coupe (1.7L 4cyl 4A)||$14,321||$21,349|
|Chevrolet Cavalier 2dr coupe(2.2L 4cyl 5M)||$15,730||$27,396|
|Volkswagen Golf 2dr hatchback(2.0L 4cyl 4A)||$17,676||$25,871|
|GMC Sonoma 2dr Regular Cab SLS 2WD LB (4.3L 6cyl 4A)||$19,115||$31,120|
|Dodge Dakota 2dr Regular Cab SLT Plus 2WD SB (3.9L 6cyl 5M)||$19,130||$30,010|
|Ford Taurus SES Deluxe 4dr sedan (3.0L 6cyl 4A)||$24,712||$37,357|
|Nissan Altima 3.5 SE 4dr sedan(3.5L 4cyl 4A)||$27,433||$36,213|
|Lexus RX 300 AWD 4dr SUV(3.0L 6cyl 4A)||$41,043||$47,397|
|Volvo XC AWD 4dr wagon(2.4L 5cyl 5A)||$43,200||$49,058|
* Vehicle description includes vehicle style, number of doors, engine size, number of cylinders and transmission type.** Purchase Price is the sum of Edmunds.com True Market ValueSM of the vehicle as typically equipped, destination charge and Illinois base sales tax.
About Edmunds.com, Inc.
Headquartered in Santa Monica, CA, Edmunds.com is the Internet's pioneer and leader in providing free, third party automotive information, tools and services for consumers. Edmunds.com empowers, educates, and engages visitors by providing them with straightforward information on all aspects of buying, selling, and owning a vehicle. Edmunds.com True Market Value® products inform the general public of the actual transaction prices of cars and trucks while Edmunds' PowershopperSM offers car shoppers the opportunity to research and pursue online and offline purchase options in an informative, consumer-friendly environment. Visitors are also provided extensive automobile reviews, current incentives and rebates, consumer advice, safety information, auto show highlights and the Town Hall automotive community. Many of these resources are powered by Edmunds Data Services, which provides a comprehensive automotive data set to the Edmunds.com Web site and licenses its data, content and tools to third parties. Edmunds.com was named "best car research" site by Forbes ASAP, is viewed by consumers as the "most useful Web site," according to the J.D. Power and Associates 2001 New Autoshopper.com StudySM*, was ranked number one in the Survey of Car-Shopping Web Sites as reported by The Wall Street Journal, and was named as one of Yahoo! Internet Life's 50 Most Incredibly Useful Sites and one of Money's 50 Most Useful Financial Web sites.
*J.D. Power and Associates is not affiliated with Edmunds.com, Inc. and does not endorse Edmunds.com or any other Web sites.