Are you in the market for a new car but don’t want everything from
the petrol costs to the insurance setting you back big time? Then check
out the vehicles that were rated to have low operating and service costs by the team at car insurer RACV.
111 cars were compared across 13 categories by costs, such as
depreciation, servicing, registration, fuel and insurance over a five
year, 75,000km (15,000 km per year) period.
Unsurprisingly the small car class offered the most budget friendly vehicles to run, with the Suzuki Celerio 5dr found to be the cheapest with a low upfront cost of $12,990 and a weekly running cost of $97.65. By comparison, at a whopping $443.60 per week, the Nissan Patrol ST-L was rated as the most expensive car to run.
In the medium category, the Skoda Octavia 103TSI Ambition was the cheapest car to run with a weekly running cost of $171.91. Whereas, the most expensive medium sized car analysed was the Mercedes Benz C200 with a weekly cost of $304.62.
When it came to electric cars, the Toyota Prius was shown to have the lowest operating cost at $152.60 per week.
RACV’s Manager Vehicle Engineering, Michael Case, said that low interest rates and lower fuel prices compared to last year, mean 2015 is a more affordable year to buy and operate a vehicle.
Here are Case’s top tips for keeping car costs down:
- Before you hit the showroom, do your homework and most importantly don’t be swayed by emotion. Ask yourself: Am I buying the car I want or the car I need?
- Look beyond the purchase price and always be aware of the hidden costs, as things like depreciation are the biggest single cost in owning a car, even if you don’t see it until it’s time to sell.
- Know how much it costs to have your car serviced, to fill the tank, replace tyres, pay insurance, rego, stamp duty, spare parts and RACV membership.
- Mainstream brands offer capped price servicing but it is important to do your research as they aren’t all the same.
- Always shop around when it comes to petrol, as considerable savings can be made at the bowser and when buying fuel, be aware of the fuel price cycle and fill up when it is cheap.
Unsurprisingly the small car class offered the most budget friendly vehicles to run, with the Suzuki Celerio 5dr found to be the cheapest with a low upfront cost of $12,990 and a weekly running cost of $97.65. By comparison, at a whopping $443.60 per week, the Nissan Patrol ST-L was rated as the most expensive car to run.
In the medium category, the Skoda Octavia 103TSI Ambition was the cheapest car to run with a weekly running cost of $171.91. Whereas, the most expensive medium sized car analysed was the Mercedes Benz C200 with a weekly cost of $304.62.
When it came to electric cars, the Toyota Prius was shown to have the lowest operating cost at $152.60 per week.
RACV’s Manager Vehicle Engineering, Michael Case, said that low interest rates and lower fuel prices compared to last year, mean 2015 is a more affordable year to buy and operate a vehicle.
Here are Case’s top tips for keeping car costs down:
- Before you hit the showroom, do your homework and most importantly don’t be swayed by emotion. Ask yourself: Am I buying the car I want or the car I need?
- Look beyond the purchase price and always be aware of the hidden costs, as things like depreciation are the biggest single cost in owning a car, even if you don’t see it until it’s time to sell.
- Know how much it costs to have your car serviced, to fill the tank, replace tyres, pay insurance, rego, stamp duty, spare parts and RACV membership.
- Mainstream brands offer capped price servicing but it is important to do your research as they aren’t all the same.
- Always shop around when it comes to petrol, as considerable savings can be made at the bowser and when buying fuel, be aware of the fuel price cycle and fill up when it is cheap.
Car Loans comparisons on Mozo
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People's Choice Credit Union Discounted Personal Loan (over 30k, cars up to 3 years old) (Fixed)People's Choice Credit UnionInterest rate from6.64%
comparison rate from*6.99% based on $30,000
over 5 years
Fees$250.00 upfront: $0.00/month
Go to site - No monthly account fees
- No penalties for early repayments
- Flexible loan terms and repayment options
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IMB New Car Loan (Fixed)IMBInterest rate from6.69%
comparison rate from*6.97% based on $30,000
over 5 years
Fees$199.00 upfront: $0.00/month
Go to site - No account keeping fees
- No penalty for an early payout
- Flexible terms for 1 to 7 years
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RACQ New Car Loan (Fixed)RACQInterest rate from6.70%
comparison rate from*7.22% based on $30,000
over 5 years
Fees$367.90 upfront: $0.00/month
Go to site - No monthly fees
- Choose loans terms from 1 to 7 years
- Apply online
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RACV New Car Loan (Fixed)RACVInterest rate from6.70%
comparison rate from*7.22% based on $30,000
over 5 years
Fees$367.90 upfront: $0.00/month
Go to site - No ongoing fees
- Loan approval within 5 business hours
- Choose to repay over 1 to 7 years
-
bankmecu goGreen Car Loan - greenhouse rating 7+ (Fixed)bankmecuInterest rate from7.04%
comparison rate from*7.25% based on $30,000
over 5 years
Fees$150.00 upfront: $0.00/month
Go to site - No monthly fees
- Additional payments accepted
- Borrow from $1,000
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ANZ Online Secured Car Loan (Fixed)ANZInterest rate from7.29%
comparison rate from*8.14% based on $30,000
over 5 years
Fees$350.00 upfront: $5.00/month
Go to site - Borrow more than 100% of the car price to cover extras like accessories
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bankmecu goGreen Car Loan - greenhouse rating <7 ixed="" p="">bankmecuInterest rate from7.54%
comparison rate from*7.75% based on $30,000
over 5 years
Fees$150.00 upfront: $0.00/month
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CUA Fixed Rate Car Loan (Up to 2 years old, over $15k)CUAInterest rate from7.99%
comparison rate from*8.29% based on $30,000
over 5 years
Fees$210.00 upfront: $0.00/month
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- No penalties for early payout or extra repayments
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St.George Car Loan (Fixed)St.GeorgeInterest rate from8.49%
comparison rate from*9.39% based on $30,000
over 5 years
Fees$195.00 upfront: $9.00/month
Go to site - Borrow from $3K to $80K
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- Flexible repayment options
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BankSA Car Loan (Fixed)BankSAInterest rate from8.49%
comparison rate from*9.39% based on $30,000
over 5 years
Fees$195.00 upfront: $9.00/month
Go to site - Apply online and get a response in 60 seconds
- Choose the frequency of your repayments
- Choose to repay over 1 to 5 years
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Westpac Car Loan (Fixed)WestpacInterest rate from8.49%
comparison rate from*9.54% based on $30,000
over 5 years
Fees$250.00 upfront: $10.00/month
Go to site - Borrow from $10K to $100K
- Loan terms from 1 to 7 years
- Get conditional approval when you apply online
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