A new study from Self Financial takes a look at the most and least affordable cars to drive in America. It looks at the running costs of America's 50 best-selling cars in the last couple of years (2022-24), and ranks them from most affordable to least affordable based on a number of factors including annual fuel, maintenance and insurance costs. The Chevrolet Tahoe is the most expensive vehicle to run on the list.
"This is a really well done and extensive look at the cost of operating a vehicle today," Car Pro Show host Jerry Reynolds. "I recommend you take a good look at it, especially the breakdown of the top 50 best-selling vehicles in America, car by car."
Here are some key takeaways:
- It costs on average $2,246 to fuel a best-selling car – the largest expense and 34.8% of all annual running costs.
- Tesla Model 3 is the most affordable best-selling car to run per year ($5,061), followed by the Hyundai Elantra ($5,104) and Toyota Corolla ($5,182).
- Chevrolet Tahoe ($8,644), Lexus RX ($8,046), and RAM Pickup ($7,981) models are the most expensive common cars to run per year.
- Taking the average cost from the car models, Tesla, Nissan, and Honda make the most affordable cars to run annually.
- Lexus, RAM and GMC make the least affordable cars to run annually.
To find out how much a common car costs to run, the study looked at the average costs for four factors: annual fuel or energy costs, annual maintenance costs, annual insurance costs, and annual fees and taxes.
The average annual costs of running a best-selling car:
|
Expense |
Cost |
% of annual costs |
|
Annual fuel costs |
$2,246 |
34.8% |
|
Annual insurance costs |
$1,763 |
27.3% |
|
Annual maintenance costs |
$1,633 |
25.3% |
|
Annual fees and taxes |
$820 |
12.7% |
|
Total |
$6,462 |
|
According to the Self Financial study:
Here are the top five least expensive car models to run per year:
- Tesla Model 3: $5,061
- Hyundai Elantra: $5,104
- Toyota Corolla: $5,182
- Kia Forte: $5,235
- Honda Civic: $5,282
These are the top five most expensive car models to run per year:
- Chevrolet Tahoe: $8,644
- Lexus RX: $5,104
- RAM Pickup: $7,981
- Toyota 4Runner: $7,820
- Chevrolet Silverado: $7,699
Read the full study here, including the cost to run the 50 best-selling vehicles in America.
