Recently purchased a new car?
With RACV Insurance, you're protected by Victoria's most trusted insurance.
The results from RACV’s latest Car Running Costs Survey show these are the most affordable new light cars, small cars, and small SUVs to own and run in 2022.
RACV’s latest Car Running Costs Survey has revealed the MG3 Core light hatchback is Australia’s cheapest car to own and run for the second year in a row, largely due to its relatively low purchase price and fuel consumption.
The top-ranking MG3 Core costs owners $734.84 per month on average, up from $626.50 in 2021.
Despite the MG3's running costs increasing in 2022 from the year prior, it still edges out its nearest rival, the Kia Picanto S, which costs $746.31 per month - $12 more than the MG3.
The annual Car Running Costs survey highlights what it costs to own and run some of the most popular new vehicles in Australia.
This year’s survey compared the purchase price, loan repayments, fuel efficiency, servicing, maintenance and on-road costs – including insurance, registration and auto club membership – of 29 light cars, small cars and small SUVs, averaged out over a five-year ownership period, to determine which cars will drive your dollar furthest.
With lower purchase prices, servicing costs and fuel consumption, light passenger cars are the most affordable segment overall, racking up an average monthly out-of-pocket of $857.16, or $10,285.92 per year. They are the only segment with running costs that still average less than $1,000 per month.
For the first time in the survey’s history, small SUVs have pipped small cars for second place, with monthly running costs of $1,021.52 - that’s $43 less than the average monthly cost of a small car, which has crept up by $160 per month to $1,063.64 in 2022.