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The 2022 edition of RACV’s annual Car Running Costs survey highlights the cheapest medium-sized cars and SUVs to own and run.
There are many considerations when choosing a family-friendly hauler. Is it spacious enough? Do we want a sedan or a Sports Utility Vehicle (SUV)? Can it fit a pram in the boot? Is it comfortable for long family road trips? Is the standard safety pack sufficient?
When it comes time to sign along the dotted line, for many it comes down to purchase price, often with little consideration of the ongoing running costs.
RACV’s annual Car Running Costs survey uncovers the hidden costs of owning and operating some of the most popular new vehicles in Australia, comparing makes and models on purchase price, loan repayments, fuel use, tyres, servicing and on-road costs – including insurance, registration and auto club membership – averaged out over a five-year period, to determine which cars in each category offer the best bang for buck.
Notwithstanding average monthly loan repayments, which account for nearly 70 per cent of a car’s total ownership cost, in the medium-sized car category, fuel takes the biggest bite, accounting for 11 per cent of ongoing monthly costs.
On-roads (including registration, insurance and auto club membership) make up the third-biggest expense accounting for a combined total of 17 per cent, while servicing and tyres make up just four per cent.
A medium-sized SUV costs a family $1,345.07 per week on average to own and run, while a medium-sized passenger car (sedan) nudges up to $1,362.69 per month on average.
In the medium-sized car category, there’s room to move if you’re looking for a great deal on a new set of family wheels, with medium-sized cars and SUVs offering the convenience of space at an attractive price point.