RACQ unveils cheapest and dearest cars to own and run
Queensland’s peak motoring body has revealed the cheapest and dearest cars to own and operate, and for the first time an electric vehicle has become attainable for motorists wanting to drive greener and not blow the budget.
RACQ’s 2019 Vehicle Running Costs survey examined a record-breaking 141 popular vehicles – taking into account all expenses associated with normal private car ownership including loan interest, fuel, new tyres, servicing, insurance, government charges and depreciation.
At just under $6,000 per year, the micro Mitsubishi Mirage ES manual hatch took out the cheapest car to own and operate in Queensland for the second year running, while the dearest non-electric model was the BMW X5 at $23,000 p/a.
RACQ Head of Technical and Safety Policy Steve Spalding said the dearest electric vehicle was the Tesla Model X 100D at $25,500 per year, but there was finally a more affordable, energy efficient alternative available for those wanting an EV.
“This year we were able to assess the Hyundai Ioniq which blew Tesla out of the water in terms of affordability costing less than half the price at just under $10,000 a year to keep on the road,” Mr Spalding said.
“Drivers need to be aware the Hyundai Ioniq has a higher purchase price than other small cars, so they need to weigh up the depreciation and interest costs with the fact they won’t be paying as much for fuel and will save on servicing before they opt for this vehicle.”
Mr Spalding said the report once again highlighted huge savings could be made each year if motorists either downsized or sought the cheapest in class.
“Drivers can save a lot of money by making informed choices when buying a car,” he said.
“If you swap a large vehicle for a small car, you could save thousands of dollars a year. You can also make considerable savings just by swapping from a prestige model to one of a similar class without the prestige badge.”