Cheapest cars to run
Cheapest cars to run
Cheapest cars to run
After the recent worldwide recession, many drivers have found that they are considering factors like fuel economy and maintenance repairs more than ever. As such, it's important to consider all of the factors that lead to a car being considered "cheap to run" anytime you're looking for a new vehicle.
Surveys of car operating costs are usually based on 5 categories as reported by VFACTS, an Automotive Industry Authority. Private operating costs are calculated with the assumption that every vehicle is purchased and maintained for a period of five years, and travels an average of 15,000 kilometres annually. Therefore, operating costs are then calculated based on a few factors.
Firstly, depreciation is calculated using the manufacturer's recommended retail price, including dealer delivery and statutory charges, less the forecast residual value for each model. Drive-away deals are included where these are ongoing and not a short term special offer.
Then maintenance repairs are considered. Vehicle maintenance costs are calculated using manufacturers' recommended service schedules and retail prices and include a range of replacement parts that are appropriate for average city driving conditions.
Fuel in cents per kilometre is calculated using test results carried out to Australian Design Rule ADR79/01, including an appropriate factor to allow for variations in driving styles and conditions as per previous surveys. Where ADR79/01 data is not available, average fuel consumption is taken from road tests and research carried out by NRMA Motoring + Services. Average cost of fuel per kilometre is then calculated using the average price per litre for the recommended fuel type for each vehicle.
Vehicle registration and comprehensive insurance fees are calculated using private registration rates and average CTP and comprehensive insurance estimates for an owner driver aged 29-55 years of age.
Finally, opportunity interest is considered. This is the loss in interest from the capital consumed by depreciation, calculated at the designated interest rate.
Based on all of the above-mentioned criteria; the pint-sized, Indian-made, three-cylinder Suzuki Alto hatchback is the cheapest car in Australia to own and run. The four-seater Alto costs $11,790 to buy and just $88.82 per week to run. In the most popular car segment in Australia, the small-car class, Hyundai's diesel i30 hatch was found to be the cheapest car to run at $114.73 per week. The cheapest large family sedan to own and run is Toyota's Aurion at $191.90 per week, closely followed by the Holden Commodore 3.0-litre V6 at $194.11 per week, and Ford's dedicated LPG Falcon G6 at $195.24 per week.
At the other end of the operating costs scale, Toyota's LandCruiser Sahara and Holden's Caprice were found to cost around $360 per week to own. Such large cars typically have higher depreciation costs as a dollar figure, rather than a percentage, which adds significantly to the weekly running costs.
Knowing how much a car will cost you on a week-to-week basis is something that car owners should consider as there is much more to buying a car than simply the price on the sticker and searching for a cheap windshield replacement or a change of tyres when the need arises!
Daniel Collins writes for a digital marketing agency. This article has been commissioned by a client. This article is not designed to promote, but should be considered professional content.
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