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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$6,354Chevrolet Cruze, Ford Focus, Hyundai Elantra, Honda Civic, Toyota Corolla
Small SUVs$7,606Ford Escape, Toyota RAV4, Honda CR-V, Chevrolet Equinox, Nissan Rogue
Hybrids$7,687Honda Accord Hybrid, Hyundai Sonata Hybrid, Toyota Prius Hybrid, Ford Fusion Hybrid, Toyota RAV4 Hybrid
Medium Sedans$8,171Toyota Camry, Honda Accord, Chevrolet Malibu, Nissan Altima, Chevrolet Malibu
Electric Vehicles$8,439BMW i3, Nissan Leaf, Kia Soul, Fiat 500e, Chevrolet Bolt
Minivans$9,146Toyota Sienna, Honda Odyssey, Kia Sedona, Dodge Grand Caravan, Nissan Quest
Large Sedans$9,399Chrysler 300, Chevrolet Impala, Ford Taurus, Toyota Avalon, Nissan Maxima
Medium SUVs$9,451Chevrolet Traverse, Jeep Grand Cherokee, Honda Pilot, Toyota Highlander, Ford Explorer
Pickup Trucks$10,054Ford F-150, Nissan Titan, Chevrolet Silverado 1500, Ram 1500, Toyota Tundra





3 Steps Every Car Buyer Needs to Take to Save Maximum Money

The key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:

Step 1 Get Prices From My Trusted Network

Select the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Select Vehicle to Get Local Pricing

Step 2 Get Prices From TrueCar / CarsDirect

TrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.

Step 3 Complete my Checklist

Follow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan

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About The Author

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.

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December 2022

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