Cheapest Type of Car to Own
Smaller sedans are the cheapest type of car to own, according to a recent study by AAA. With an average annual cost of $6,354, they are nearly $4,000 less expensive to own per year than the most expensive segment - pickup trucks ($10,054 annual cost).
The study looked at the top-selling vehicles in each segment with selling prices under a certain amount, which means that Tesla was not included under electric vehicles even though they're one of the top selling electric models.
Check out the full break-down below, and read Consumer Reports summary for more information.
|CATEGORY||AVG ANNUAL COST||MODELS EVALUATED BY AAA|
|Small Sedans||$6,354||Chevrolet Cruze, Ford Focus, Hyundai Elantra, Honda Civic, Toyota Corolla|
|Small SUVs||$7,606||Ford Escape, Toyota RAV4, Honda CR-V, Chevrolet Equinox, Nissan Rogue|
|Hybrids||$7,687||Honda Accord Hybrid, Hyundai Sonata Hybrid, Toyota Prius Hybrid, Ford Fusion Hybrid, Toyota RAV4 Hybrid|
|Medium Sedans||$8,171||Toyota Camry, Honda Accord, Chevrolet Malibu, Nissan Altima, Chevrolet Malibu|
|Electric Vehicles||$8,439||BMW i3, Nissan Leaf, Kia Soul, Fiat 500e, Chevrolet Bolt|
|Minivans||$9,146||Toyota Sienna, Honda Odyssey, Kia Sedona, Dodge Grand Caravan, Nissan Quest|
|Large Sedans||$9,399||Chrysler 300, Chevrolet Impala, Ford Taurus, Toyota Avalon, Nissan Maxima|
|Medium SUVs||$9,451||Chevrolet Traverse, Jeep Grand Cherokee, Honda Pilot, Toyota Highlander, Ford Explorer|
|Pickup Trucks||$10,054||Ford F-150, Nissan Titan, Chevrolet Silverado 1500, Ram 1500, Toyota Tundra|
My Recommendation for Car ShoppersTrueCar, Edmunds, and 1-800 Car Show are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
New York Tri-State Residents - Important:There is a new car leasing service called Carvoy, available to NY tri-state area residents, which I recommend you try - especially if you hate the stress of haggling with car dealerships. Carvoy provides pre-negotiated lease deals, calculated with taxes and all fees incuded so you know exactly what it will cost. Here is my list of Best Carvoy deals, updated each month.
- Gregg Fidan
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid
About: Gregg Fidan
Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
Latest Weekly Car Buying Tips RSS Feed