Ford Authority

Ford Ranger Wins 2023 Five-Year Cost To Own Award

Last year, the Ford Ranger was granted a Five-Year Cost to Own Award from Kelley Blue Book by presenting owners with an estimated five-year ownership cost that was several thousand dollars below the mid-size pickup segment average. Now, the Ford Ranger has repeated that feat in 2023, as KBB has once again recognized that model with a Five-Year Cost to Own Award – joining the Ford Maverick, Ford F-150 Lightning EV pickup, and Ford Bronco in that regard.

The Ford Maverick took home top honors in the mid-size pickup segment with an average five-year cost of ownership that comes in at $40,626, which is $3,665 less than the segment average. To calculate these values, Kelley Blue Book considers insurance, maintenance costs, fuel costs, state fees, and depreciation, the latter of which is one of the biggest expenses new vehicle owners incur, yet not something that many consider when purchasing a vehicle.

KBB calculates depreciation costs using its own residual values, which it uses to determine the total ownership costs for new vehicles by applying a sophisticated valuation methodology along with critical financial data acquired from third-party providers.

“Many car shoppers would be shocked if they understood that cost of ownership can vary in staggering amounts from one vehicle to the next, potentially to the tune of thousands of dollars over time,” said Janice Yoell, senior manager of valuations for Kelley Blue Book. “Paying attention to a vehicle’s cost of ownership is imperative to make a smart purchase decision. For the third year in a row, Toyota and its luxury sibling Lexus take home the top brand prizes for Five-Year Cost to Own in 2023. Both brands feature several models with high residual values – meaning the vehicle holds its value well over time – leading to low vehicle depreciation, which is a key factor in determining cost of ownership.”

We’ll have more on the Ranger soon, so be sure to subscribe to Ford Authority for more Ford Ranger news and ongoing Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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  1. Michael

    Cost Town Own? Lol


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