Costs associated with owning a vehicle in Australia: Discovering the least and greatest priced automobiles for the year 2020
The RACV's 2020 Driving Your Dollars survey has revealed the top-selling and most affordable cars to own and run in Australia. The survey analysed 79 of the top-selling cars across 11 vehicle segments, focusing on mainstream brands and their top-selling models.
Most Affordable Cars
The Suzuki Baleno GL light hatchback has been identified as the most affordable car to own and run in Australia in 2020. With an estimated on-road price of about $20,145 and annual running costs of approximately $8,486 (around $707 monthly), the Baleno takes the lead as the most cost-effective vehicle.
The Suzuki Swift GL Navigator follows closely as the second most affordable car, costing $740.56 per month. The Toyota Yaris Ascent hatch is the third most affordable car, with a monthly cost of $744.97.
Affordable Categories
In the small car category, the Hyundai i30 GO (1.6L turbo diesel 7-speed DSG hatch) stands out with an estimated on-road price of $29,095 and annual running costs of about $10,469. The medium car category is represented by the Toyota Camry Ascent Hybrid (2.5L CVT), with a price around $34,543 and annual running cost near $12,017.
The people mover category is led by the Honda Odyssey VTi (2.4L CVT), with a price about $43,207 and annual running cost of $15,511. In the electric vehicle category, the Hyundai Ioniq Plug-In Hybrid Elite PHEV (1.6L) is a popular and affordable option, with a price near $46,629 and annual running cost $14,794.
Cost Breakdown
On-road costs such as registration, insurance, and club membership make up 15% of the cost of running a car. Fuel accounts for only 10% of the overall total cost, while servicing takes up just under 4% and tyres account for 5%.
Vehicle Categories and Costs
- Light cars and small cars are the most affordable vehicles to own and run, with an average monthly running cost of $770.16 and $928.64 respectively.
- Large SUVs have an average monthly cost of $1432.98.
- All-terrain vehicles are the most expensive category, with an average monthly cost of $1804.61.
- 4x4 light commercial vehicles (pick-ups) have an average monthly cost of $1590.56.
- Electric and plug-in hybrid electric vehicles have an average monthly cost of $1383.89, making them more expensive than people-movers.
The most affordable 4x4 pick-up in the survey is the Mitsubishi Triton GLX, costing $1340.98 per month. The Nissan's big V8-powered Patrol 4x4 SUV is the most expensive vehicle to own and operate according to the survey.
Several hybrid and battery electric models were included in the survey to reflect the growing uptake of low and zero-emissions vehicles in Australia.
Note: While the MG ZS is mentioned elsewhere as an affordable SUV, there is no direct link to the RACV 2020 survey in the results, so it is not part of this specific 2020 analysis.
[1] Estimated on-road price and annual running costs are approximate and may vary based on location, options, and other factors. [2] For more information about the RACV's 2020 Driving Your Dollars survey, visit their official website.
Sports enthusiasts might find the most affordable vehicles for their daily commute in the small car category, such as the Hyundai i30 GO (1.6L turbo diesel 7-speed DSG hatch), which offers an estimated on-road price of $29,095 and annual running costs of about $10,469. For those who prefer a more spacious vehicle, electric and plug-in hybrid electric vehicles, like the Hyundai Ioniq Plug-In Hybrid Elite PHEV (1.6L), could be an affordable option, with a price near $46,629 and annual running cost $14,794.
