Revealed: The cheapest and most expensive cars to own and operate – and Asian-made cars dominate their pricey European rivals
- A recent study has calculated the total cost of owning new cars has risen to $228
- The Mitsubishi Mirage, Toyota RAV4 and Mitsubishi Triton were the cheapest
- The Tesla Model X 100D was the most expensive to own and run in Australia
The cheapest and most expensive cars to own and run in Australia have been revealed, breaking down all the costs of ownership over five years.
The latest survey took into account fuel costs, warranties, tyres, depreciation, servicing and government costs, with the average cost increasing from $218 a week to $228 compared to last year.
The 2019 Mitsubishi Mirage is the cheapest new car on sale in Australia with a retail price of $13,490 for the manual ES model, and a total running cost of $6,000 per year or $114.38 a week, according to RACQ.
The 2019 Mitsubishi Mirage is the cheapest new car in Australia with a weekly cost of $114.38
Electric cars are becoming a more affordable choice, with the Hyundai Ioniq beating out all it’s electric rivals by more than $7k over five years compared to it’s closet competition the Renault Zoe.
The Ioniq will cost $191.20 per week for a total cost, including the purchase, of $49,711.17 over five years.
For those looking for a family car the Toyota RAV4 2WD 2.5L Hybrid worked out as the cheapest car in the medium sized SUV class.
With an upfront on-road cost of $41,496 the RAV4 will cost families $192.79 per week on average.
The cheapest cars in each segment
Micro car – Mitsubishi Mirage – $114.38
Light Car – Kia Rio S – $115.73
Electric Vehicles – Hyundai Ioniq – $191.20
Small Car- Kia Cerato S – $136.46
Medium Sized Car – Toyota Camry Hybrid – $181.75
Medium SUV – Toyota RAV4 Hybrid – $192.79
Large SUV – Subaru Outback – $215.91
Utility – Mitsubishi Triton – $213.47
Toyota recently halted the sale of the Hybrid models of the RAV4 due to braking issues but sales are believed to have resumed with additional checks being made at the dealership.
Tradies looking for a cheap option on their duel-cab ute should look towards the Mitsubishi Triton GLX 2.4L Turbo Diesel model with an initial on-road cost of $39,638.
The Triton will cost $213.47 per week with the highly popular Ford Ranger coming in second at $220.34 per week.
On the other end of the scale the Tesla Model X 100D was recorded as the most expensive car to run in Australia at $25,500 per year despite the fuel savings associated with an electric car.
For the first time electric cars have become a cost effective choice with Hyundai Ioniq’s costing $191.20 per week with a total cost, including the car, at $49,711.17 over five years
The Model X will cost buyers a whopping $490.46 per week, with almost double the electricity usage of the Hyundai Ioniq at 5.54 cents per every hundred kilometres.
The most expensive cars in each segment
Electric Vehicles – Tesla Model X 100D – $490.46
Light Car – Volkswagen Polo – $148.70
Small Car – Volkswagon Golf – $171.31
Medium Sized Car – Volkswagen Passat – $224.12
Large SUV Prestige – BMW X5 – $443.11 Medium SUV Prestige – Audi Q5 – $316.21
Large Prestige Car – BMW 520d – $396.53
Sports Prestige Car – Ford Mustang – $337.28
The most expensive petrol-powered car is the BMW X5 xDrive which will cost consumers $443.11, with the slightly smaller Audi Q5 the most expensive in its segment at $316.21.
Volkswagen performed poorly in many segments with the Polo and Golf coming last in the Light and Small Car class respectively.
The Passat also came last for value in the medium sized segement, costing drivers $224.12 compared to the Camry Hybrid which cost $181.75.
Luxury cars were predictably higher in servicing costs with the BMW 520d performing the worst in the Large Prestige Car Class at $396.53.
For prestige grade sports cars the Ford Mustang 5.0 V8 variant lost to the BMW 220i M-Sports cost and cost drivers $40 more a week.
The Tesla Model X 100D was recorded as the most expensive car to run in Australia costing buyers a whopping $490.46 per week