Car running costs 2021: Victoria's cheapest and most expensive cars
RACV’s Vehicle Operating Costs survey reveals the cheapest and most costly cars to own and run in 2021.
Buying a new car is one of the most significant purchases you’ll make, and there’s a lot to consider when making your decision. Are you happy with the price? Does it have a strong safety rating? Does it have the features you want? What’s it like to drive?
But one key consideration that’s often overlooked is how much it will cost to operate during the time that you own it. There could be ongoing costs you haven’t considered.
RACV’s annual Vehicle Operating Costs survey helps uncover some of the hidden costs of buying and owning a new car.
Running for more than 50 years, the Vehicle Operating Costs survey highlights the overall cost of ownership of more than 80 of Australia’s best-selling and emerging models. The survey factors in the initial purchase price and loan repayments, registration charges, insurance, auto club membership, fuel or electric vehicle charging costs, tyres, servicing and repairs, all averaged over five years.
RACV’s calculations are based on a private vehicle with a mileage of 15,000 kilometres per year, roughly the average distance travelled by Victorian drivers.
The biggest cost related to a new car is, unsurprisingly, the up-front purchase price. Depreciation can wipe off about 40 to 50 per cent of the value of your new vehicle over the five-year period of the survey. Registration, insurance, and club membership make up about 15 to 20 per cent, while fuel takes a 10 and 15 per cent slice. Servicing costs consume between three and seven per cent of the overall costs and tyres just one to three per cent.