NEW YORK -

What has Forbes found to be the most value-packed cars? In the midst of rising gas prices, leading the pack on the list from Forbes were compact cars.

In fact, this segment was represented by vehicles in three of the top four spots, including the No. 1 model on the list: the Mazda2.

The Nissan Versa was second and the Chevrolet Cruze was fourth.

“These days, compacts are some of the safest bets when it comes to getting the most value for the money,” wrote Hannah Elliot, of Forbes.com.

Among brands, Honda led with way with four on the list, while Toyota picked up two spots. Mazda, Nissan, Chevrolet and Hyundai each earned one spot.

Elliot went on to explain that she took Vincentric’s cost-of-ownership data to determine the top vehicles. Forbes chose 114 models deemed to have “excellent” overall value ratings.

Using each vehicle’s respective MSRP and the five-year impact of several factors (depreciation, taxes and fees, fuel costs, insurance, interest, maintenance, opportunity costs and repairs) on each model’s ownership costs, Forbes developed a ranking of the 114 vehicles, Elliot explained.

Forbes took the top 10 of that group to create the final list.

As most know, depreciation is the heftiest ownership cost, especially for luxury models.

“One of the reasons the Toyota Prius made our list is because of its outstanding depreciation ratio. Alt-fuel vehicles in particular do well with on resale lots,” Elliot shared.

Non-luxury vehicles also have the advantage of lower prices, which helps in the value as well, she pointed out.

While it’s not always the case that a low MSRP means a good value, Elliott pointed out that a few pickups and crossovers were helped by having low initial price tags, giving the example of the Hyundai Tucson, which was No. 7, and the Toyota Tacoma, which came in fifth.

“They both demand a bit more for fuel costs over five years than their smaller counterparts, but their reliability (low maintenance and repair costs), low MSRPs and — most importantly — current low depreciation rates qualify them as value-packed vehicles,” Elliott wrote.

The following is the complete top 10, according to Forbes.com:

1. Mazda2 Sport
Body Style: Four-door hatchback
Transmission: Five-speed manual
MSRP: $14,180
Depreciation: $8,405
Fuel: $7,825
Maintenance: $1,613
Total Cost of Ownership: $28,593

2. Nissan Versa SL
Body Style: Four-door hatchback
Transmission: Six-speed automatic
MSRP: $16,900
Depreciation: $9,696
Fuel: $8,085
Maintenance: $1,882
Total Cost of Ownership: $30,259

3. Honda Civic EX
Body Style: Four-door sedan
Transmission: Five-speed automatic
MSRP: $20,405
Depreciation: $11,473
Fuel: $8,484
Maintenance: $2,038
Total Cost of Ownership: $33,190

4. Chevrolet Cruze
Body Style: Four-door sedan
Transmission: Six-speed automatic
MSRP: $19,100
Depreciation: $11,491
Fuel: $8,709
Maintenance: $1,724
Total Cost of Ownership: $33,543

5. Toyota Tacoma LX-P
Body Style: Double-cab two-wheel-drive
Transmission: Four-speed automatic
MSRP: $22,515
Depreciation: $9,348
Fuel: $11,544
Maintenance: $1,589
Total Cost of Ownership: $34,449

6. Honda Accord LX-P PZEV
Body Style: Four-door sedan
Transmission: Five-speed automatic
MSRP: $22,980
Depreciation: $12,528
Fuel: $9,135
Maintenance: $1,878
Total Cost of Ownership: $34,890

7. Hyundai Tucson GL
Body Style: Four-door 4WD
Transmission: Six-speed automatic
MSRP: $19,745
Depreciation: $11,937
Fuel: $9,450
Maintenance: $2,495
Total Cost of Ownership: $34,949

8. Honda Element LX
Body Style: Four-door 2WD
Transmission: Five-speed automatic
MSRP: $20,825
Depreciation: $11,339
Fuel: $11,189
Maintenance: $1,979
Total Cost of Ownership: $35,969

9. Toyota Prius
Body Style: Four-door hatchback
Transmission: Automatic variable continuously controlled
MSRP: $26,850
Depreciation: $16,699
Fuel: $4,957
Maintenance: $2,045
Total Cost of Ownership: $36,564

10. Honda CR-V
Body Style: Four-door 2WD
Transmission: Five-speed automatic
MSRP: $26,645
Depreciation: $13,178
Fuel: $10,392
Maintenance: $1,747
Total Cost of Ownership: $37,713

For more information or to read the entire story, visit www.forbes.com/2011/02/22/mazda-toyota-honda-gm-business-autos-value-packed-cars.html.