A recent study from the Royal Automobile Club of Queensland (RACQ) has revealed the most affordable family cars. In a report called Private Vehicles Expenses 2022, RACQ compared 86 vehicles that are currently sold in Australia to find the cheapest ones to own and operate.
“The cheapest large SUV was the MY23 Subaru Outback 2.5 AWD costing $1,318 per month,” said Principal Technical Researcher Andrew Kirk.
“The most cost-effective EV was a small SUV, the MG ZS EV, which came in at $1,060 per month. For more adventurous families, the most affordable 4X4 Ute was the GWM Cannon 2.0 T/dsl dual cab with a monthly expense of $1,263,” Mr. Kirk added.
The researchers considered various factors in determining the most cost-effective SUV. This includes fuel, registration, insurance, tyres, service fees, and the purchase price fully financed over a five-year loan.
“With cost-of-living pressures challenging many of us right now, saving wherever you can is important and we want to make sure Australians are informed when buying a new car,” said Mr. Kirk.
Through the study, they have also found that there was a spike in fuel costs compared to last year.
“One of the biggest increases to operating costs was fuel prices, which spiked this year due to international factors such as the war in Ukraine,” said Mr. Kirk.
“To fuel a Subaru Outback last year would have cost you around $120 per month. This year you’ll pay $174 per month.”
“Running a vehicle is expensive but if you do your research, you can save tens of thousands of dollars in the long run.”
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