As it turns out this isn’t even a decision. The Toyota Prius, approximately 6 years old, is optimal. That’s because it has these characteristics:
a. Used cars are cheaper TCO than new cars (I have a spreadsheet proving this if you are interested)
b. Toyota is the most reliable brand on average
c. The Prius is their most reliable model
d. The Prius uses the least fuel, out of their used models. They do have plug-in-hybrids that use even less fuel, but the good ones are 2021 model year and are not available used.
A Prius may not quite provide enough space, 3 kids is kind of a lot. In that case, the same as above, just get the Rav4. (but not the hybrid unless it’s the 2019 or newer rav4 hybrid). As a side note, while the Prius has been made fun of, the Rav4 is the most commonly sold vehicle in America next to trucks, so it’s a decision that is well ‘peer reviewed’.
Full disclosure: I read that chart above and bought a Prius 3 years ago. It has exceeded my expectations.
I think you’re not taking into account that we are not expecting to drive very many miles, and so per mile costs are less important to us than average?
Ok, so this particular problem actually has a small number of correct answers! Everything else is suboptimal!
You want a vehicle that has minimum cost, is safe, and meets requirements.
Well, it’s pretty easy, actually. Look at this chart : https://www.yourmechanic.com/article/how-much-do-maintenance-costs-increase-by-mileage-by-maddy-martin
As it turns out this isn’t even a decision. The Toyota Prius, approximately 6 years old, is optimal. That’s because it has these characteristics:
a. Used cars are cheaper TCO than new cars (I have a spreadsheet proving this if you are interested)
b. Toyota is the most reliable brand on average
c. The Prius is their most reliable model
d. The Prius uses the least fuel, out of their used models. They do have plug-in-hybrids that use even less fuel, but the good ones are 2021 model year and are not available used.
A Prius may not quite provide enough space, 3 kids is kind of a lot. In that case, the same as above, just get the Rav4. (but not the hybrid unless it’s the 2019 or newer rav4 hybrid). As a side note, while the Prius has been made fun of, the Rav4 is the most commonly sold vehicle in America next to trucks, so it’s a decision that is well ‘peer reviewed’.
Full disclosure: I read that chart above and bought a Prius 3 years ago. It has exceeded my expectations.
I think you’re not taking into account that we are not expecting to drive very many miles, and so per mile costs are less important to us than average?
In that case your costs are dominated by depreciation. So you want a used vehicle, one that has low depreciation, that meets your needs.
Toyotas have low depreciation but with your set of conditions, all sorts of gas guzzling boats like suburbans and escalades fit as well.