Kelley Blue Book (KBB), a leading automotive research provider, recently compiled a list of

the best all-new vehicles for the 2012 model year. The majority of the new vehicles that made the list are compact, fuel-efficient models like the Chevy Sonic, Hyundai Veloster and the Fiat 500.

"The car world is indeed getting smaller, as evidenced by this year's freshman car class," said Jason Allan, editor of online content for KBB's kbb.com. "There's only one new car on the list not powered by a four-cylinder engine, and that car, Mitsubishi i, runs on electricity alone. Even the new Land Rover features a four-banger, albeit a turbocharged version still good for 240 horsepower."

Land Rover's Range Rover Evoque has only been on the market since earlier this year and already it has received 34 awards. KBB also chose it as the number one new car for the new model year for its handing capability both on and off the road.

However, drivers should be wary of a few mitigating factors when choosing their cars – including the cost of ownership, which encompasses car insurance, gas prices, maintenance and repairs. One way for drivers to save over time is to purchase an extended warranty that can cover the cost of repairs after the manufacturer warranty expires. This way they won't have to pay out of pocket for unexpected fixes.