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|
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- 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