Cost Effective Cars
The Cheapest and Most Expensive Cars to Run in the US
There are so many different costs to factor in when you buy a new car. From the price of gas, to insurance and vehicle tax rates in your area. In addition to this, car prices have accelerated in recent months, as with many other consumer goods. The main reason for car prices rising is global supply chain issues. Recent research found that an ongoing chip shortage is holding up production in the automotive industry, as well as a rise in material costs, which the Russia and Ukraine crisis has intensified.
With Americans spending huge amounts of money every month to run their cars, we wanted to explore which cars were the cheapest to run and the most suitable for first-time drivers. By looking at factors such as the average cost of road tax, fuel, the average cost of parts, a replacement battery and insurance.
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The Cheapest Cars to Run in the US
1 – Honda Fit (2018) 1.5L Automatic
Total Cost of Insurance and Gas per Year: $5,003.20 $5,003
The Honda Fit 2018 model is the cheapest on our list of the USA’s most popular cars to run. It is coupled with the Honda Civic for the lowest fuel price on our list ($0.30 per mile). The Honda Fit is a five-door hatchback body style and is considered a subcompact car in the US. The average gas cost per year for the Fit is an estimated $3,817.20, and a yearly premium cover of insurance averages at around $1,186.00.
2 – Toyota Yaris (2020) 1.5L Manual
Total Cost of Insurance and Gas per Year: $5,254.44 $5,254
The now discontinued Toyota model scores second place for the cheapest car to run. The year 2020 was the last model year for the Yaris, and it remains a popular choice among Americans for its reliability. The Yaris has a fuel price of $0.31 per mile, and fairs slightly more expensive than the Honda Fit for its insurance cost, at around $1,310.00 for a year’s premium. The cost of fuel for a year of running a Yaris will cost you around $3,944.44.
3 – Hyundai Accent (2022) 1.6L Automatic
Total Cost of Insurance and Gas per Year: $5,353.20 $5,353
The Hyundai Accent is a subcompact car produced by Hyundai. The 2021 Accent was named the “Best Subcompact Car for the Money” by U.S. News, so it’s no surprise that this model has made it to our top three cheapest cars to run.
The Accent has the cheapest fuel cost on our list ($0.30 per mile), with a total cost for the year of $3,817.20 based on the average number of miles driven per year (12,724). The yearly premium for car insurance for the Accent will cost you around $1,536.00.
The Most Expensive Cars to Run in the US
1 – Ford F-150 Raptor (2022) 3.5L Automatic
Total Cost of Insurance and Gas per Year: $7,602.04 $7,602
The Ford F-150 ‘Raptor’ model is a nameplate used by Ford Motor Company for its high-performance, and is designated as the highest-performance version of the F-150, Ranger and Bronco.
The Raptor R is to be released in 2023, with a six figure price point, and it is the most expensive truck the company sells, costing nearly $37,500 more than this model. The 2022 Raptor is still the most expensive car on our list, costing approximately $5,853.04 in gas every year, and the yearly cost for car insurance will cost you around $1,749.00.
2 – GMC Sierra (2022) 5.3L Automatic
Total Cost of Insurance and Gas per Year: $6,990.84 $6,991
The 2022 GMC Sierra is a light-duty pickup truck with a host of upgrades for 2022, including an upgraded interior with more comfort and higher-quality materials. The Sierra has an EcoTec V8 Engine, making it one of the more expensive vehicles to fill up a tank of gas. You can expect to pay $5,216.84 in gas, and the yearly cost for insurance will be around $1,774.00.
3 – Toyota 4Runner (2022) 4.0L Automatic
Total Cost of Insurance and Gas per Year: $6,929.08 $6,929
The 2022 Toyota 4Runner falls slightly below the GMC Sierra for its running costs. The 4Runner is an SUV manufactured by the Japanese manufacturer Toyota, and has been marketed globally since 1984, across five generations. For the new 2022 4Runner, you can expect to pay $5,344.08 per year on gas, and around $1,585.00 a year on insurance.
The Cheapest EV Cars to Run in the US
Electric vehicle cars have allowed drivers to go greener by reducing emissions and noise pollution across the world. As well as helping the planet, EVs have been proven to have lower running costs and provide an overall better driving experience. Here are the cheapest EVs to run in the US:
1 – Hyundai Kona Electric (3.57 mi/kWh)
Total Cost of Insurance and Fuel per Year: $3,013.88 $3,014
The Hyundai Kona Electric is an affordable electric vehicle that can go as far on a fully charged battery as a ‘regular’ car can on a full tank of fuel. The Hyundai EV claims to be able to travel up to 300 miles between charges, thanks to its large battery capacity. That sort of distance used to be the preserve of expensive Tesla models.
2 – Nissan Leaf (40 kW-hr battery pack)
Total Cost of Insurance and Fuel per Year: $3,229.88 $3,230
The Nissan Leaf is a compact five-door hatchback battery electric vehicle (BEV) manufactured by Nissan. The 100% electric family car has a range of up to 239 miles and fast charging, designed to help stretch miles and the battery. The Leaf offers smooth acceleration that only electric cars can achieve.
3 – Chevrolet Bolt EUV (3.4 mi/kWh)
Total Cost of Insurance and Fuel per Year: $3,245.88 $3,246
The Chevrolet Bolt EUV model has everything you’d want from an electric vehicle, including its ample space, fast acceleration and long driving range of 259 miles. However, the Tesla Model Y and Ford Mustang Mach-E have longer ranges, but come with a heftier price tag.
Gasoline Cars vs. Electric Vehicles: Which is Better Value for Money?
We have previously discussed the benefits of driving an electric vehicle, but how does an EV compare to a car running on gasoline? We wanted to compare the running costs for a year based on insurance prices and the cost of gas/electricity per year. Here’s how our cheapest to run EVs compared to our cheapest to run gasoline cars:
1 – Honda Fit 2018 1.5L Automatic
Total Cost of Insurance and Gas per Year: $5,003
Hyundai Kona Electric (3.57 mi/kWh)
Total Cost of Insurance and Fuel per Year: $3,013.88
The Honda Fit 2018 small hatchback model had a much higher price point for the cost of insurance combined with gas costs per year, at the cost of $5,003. The Hyundai Kona Electric 2022 small SUV model had a total cost of $3,013.88 for the same yearly expenses. You can expect to save almost $2000 in running costs if you switched to the Hyundai Kona Electric.
2 – Toyota Yaris 2020 1.5L Manual 6-spd
Total Cost of Insurance and Gas per Year: $5,254
Nissan Leaf (40 kW-hr battery pack)
Total Cost of Insurance and Fuel per Year: $3,229.88
The Toyota Yaris 2020 subcompact model had a combined cost of $5,254 for a year of running the vehicle. Compared with the Nissan Leaf 2022 compact electric model, which had a total cost of insurance and fuel of $3,229.88. The Nissan Leaf will save you $2,024.12 in running costs.
3 – Hyundai Accent 4cyl 1.6L Automatic (AV-S1)
Total Cost of Insurance and Gas per Year: $5,353
Chevrolet Bolt EUV (3.4 mi/kWh)
Total Cost of Insurance and Fuel per Year: $3,245.88
The Hyundai Accent is a subcompact car with a total cost of $5,353 for insurance and gas per year. Compared with the Chevrolet Bolt, a battery electric subcompact hatchback at a price point of $3,245.88. Switching to the electric version could save you an average of $2,107.12 per year.
Car Registration Fees by State
Running a vehicle in the US is not cheap, and you should expect to pay a lot more than the price on a car sales website. Down payments, monthly payments, insurance, gas, and registration fees should also be considered when you buy a new car.
Vehicle registration plates are required for every vehicle, and each state requires that cars are registered and titled with the state’s transportation agency. Each state has varied fees for vehicle registration, and some may base this price on the car’s age or weight, or may even carry extra fees, such as public safety fees. So which states have the highest car registration fees?
- Colorado
Colorado has car registration fees that are completely dependent on the car’s weight, so there is no concrete fee for drivers.
- Iowa
Iowa has registration fees that are equal to percent of the value, as fixed by the department plus forty cents for each 100 lbs.
- Michigan
Michigan’s car registration fees are based on the vehicle’s individual value or weight, depending on the age of the car.
Cars with the Cheapest Costs for Repairs with Replacement Parts
It comes as no surprise that most car manufacturers are not keen to share the costs of fixing and maintaining your new vehicle. Therefore, it’s key that you research and choose a car that’s affordable to fix and efficient to run. Here are three cars with low repair costs:
1 – Honda CR-V (2022) 1.5L Automatic
Total Cost for Replacing Car Parts (Brake Pads, Air Filter and Car Battery): $108
The CR-V model manufactured by Honda is a reliable compact SUV, and fortunately won’t cost an arm and a leg to repair. Replacement parts start at around $25.99 for brake pads, and $14.49 for an air filter.
2 – Jeep Grand Cherokee (2022) 3.6L Automatic
Total Cost for Replacing Car Parts (Brake Pads, Air Filter and Car Battery): $116.97
The Jeep Grand Cherokee continues to set the standard for full size SUVs with its affordable repair costs. Replacement parts will cost around $67.99 for a new battery and just $7.49 for a new air filter.
3 – Honda Pilot (2022) 3.5L Automatic
Total Cost for Replacing Car Parts (Brake Pads, Air Filter and Car Battery): $116.97
Tied in third place with Jeep’s Grand Cherokee, is the 2022 Honda Pilot. The midsize SUV has beat the industry average for popular SUV models with its low maintenance and repair costs. The total costs for replacing three of the most commonly replaced car parts is $116.97.
Cars with the Most Expensive Costs for Repairs with Replacement Parts
When looking at vehicle costs, we sometimes don’t consider the cost for pricey repairs and new parts, particularly if you’ve purchased a new car. You might expect luxury sports cars to lead the list, but some common commercial vehicles are surprisingly costly to keep running.
We took a look at some of the most commonly replaced car parts, giving us a total cost of the car parts for each vehicle model:
1 – Ford F-150 Raptor (2022) 3.5L Automatic
Total Cost for Replacing Car Parts (Brake Pads, Air Filter and Car Battery): $614.77 $615
The supercharged Raptor model from the Ford F-Series could become a pricey affair when parts need to be replaced. The average price for replacement front brake pads cost around $234.99, and a replacement battery will set you back by around $359.99.
2 – Jeep Cherokee (2022) 2.0L Automatic
Total Cost for Replacing Car Parts (Brake Pads, Air Filter and Car Battery): $374.97 $375
The Jeep Cherokee is an extremely reliable compact crossover, capable of gliding across off-road trails and through pot-holed streets. The Jeep Cherokee is a line of SUVs manufactured and marketed by Jeep over five generations. This 2022 model costs around $234.99 for a replacement battery, and $89.99 for a new air filter. In total, the most replaceable car parts could set you back $374.97.
3 – Nissan Altima (2022) 2.5L Automatic
Total Cost for Replacing Car Parts (Brake Pads, Air Filter and Car Battery): $349.97 $350
The 2022 Nissan Altima model is a midsize sedan that has been manufactured by Nissan since 1992. When it comes to reliability, the Nissan Altima has recently passed car repair tests with flying colors. It was also reported in 2021 that major repairs for the Altima are uncommon. Although, when the time comes to finally replace parts for your Nissan, you can expect to pay $234.99 for a replacement battery, and $64.99 for an air filter.
Methodology:
We started our research by collating a list of the most popular cars in the US, using listicle articles by All Top Everything’s Top 10 Most Popular Cars in the USA.
Fuel Costs
We were able to find the Cost of Gas (per mile) using Alternative Fuels Data Center’s Vehicle Cost Calculator, using the average daily use figures already set in the calculator to find the cost of gas per mile.
We then found the average miles driven per year using advice from Kelley Blue Brook’s Average Miles Driven Per Year: Why It Is Important. We were then able to multiply the cost of gas (per mile) by the average number of miles per year in the US (12,724 miles).
Cost of Insurance
We used Insure.com’s Average insurance rates for your 2022 car to find insurance costs for our 2022 models. We used Finder.com’s Compare car insurance by make and model for our older car models.
The Cheapest EV Cars to Run in the US
We used ChooseEV’s EV Savings Calculator to add the electric vehicle model, and were then able to find the car’s Utility kWh rate (the estimated costs per mile). We were able to multiply each model’s Utility kWh rate by the Average Number of Miles Traveled per Year (according to Kelley Blue Brook’s Average Miles Driven Per Year: Why It Is Important), to find the cost of electricity per year.
We then used Insure.com’s Average insurance rates for your 2022 car to find insurance costs for our electric vehicle models. Finally, we compared the total yearly costs of our EVs to our gasoline vehicle models.
Car Registration Fees by State
We used World Population Review’s Car Registration Fees by State 2022 to find the fees in each state for car registration.
Cost for Car Parts
We used Advance Auto Parts to find the cost of replacement parts for each vehicle. Our average score is based on the cars with the priciest car parts.
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