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 No-Haggle, CarsDirect, and NADAGuides 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.
- Gregg Fidan
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