The Cheapest Cars of 2012

Sixth-lowest: Ford Fiesta
Ford Fiesta, the only Detroit product on the list, is the sixth-lowest-cost car to operate, according to KBB, with a total ownership cost of $28,639 over five years.

The new Fiesta began arriving in dealerships in 2010 after being absent from U.S. markets for two decades, and it is credited with helping Ford re-establish itself in California and other small-car markets. "It's been a good seller so far," Gutierrez says. "It gets 40 miles per gallon and it's very affordable."

The four-door sedan has a manufacturer's suggested retail price of $13,995 and a fair purchase price of $13,488. It gets 29 miles per gallon in the city, 33 mpg combined and 40 mpg on the highway. KBB factored in a $500 rebate and assumed a financing rate of 3.9%.

Fifth-lowest: Mazda2
Mazda2 is the fifth-lowest-cost car to operate, according to KBB, with a total ownership cost of $28,457 over five years.

Like the Fiesta, Mazda2 arrived in the U.S. in 2010 as its manufacturer sought a presence in the domestic subcompact market.

The four-door sport hatchback has a manufacturer's suggested retail price of $15,325 and a fair purchase price of $15,153. It gets 29 miles per gallon in the city, 32 mpg combined and 35 mpg on the highway. KBB factored in a financing rate of 0.9%.