Cheapest new cars to buy, own and operate revealed

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.
RELATED: Roy Morgan Research: More drivers in Australia but car accidents down
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 c 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 loan comparisons on Mozo - last updated 6 December 2023
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New Car Loan - Special
Home Owner Discount, Including Demo, Variable, Secured
Interest rate
comparison rate
Monthly repayment6.24% p.a.7.36% p.a.based on $30,000
over 5 yearsLow variable car loan rate for purchasing new and demo vehicles from dealers. Personalised loan amounts between $5,000 and $150,000. Flexible repayment options. Choose between the 3 to 7 year loan terms. Good credit history. Stable employment history and Australian citizenship or PR required.
Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 6.24% would cost $35,880.27 including fees.
CompareCompare- Interest rate
- 6.24% p.a.
- comparison rate
- 7.36% p.a.based on $30,000
over 5 years
- Interest rate
- 6.24% p.a.
- comparison rate
- 7.36% p.a.based on $30,000
over 5 years
- Upfront fees
- $400.00
- Monthly fee
- $8.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- $700.00
- Minimum loan amount
- $5,000.00
- Maximum loan amount
- $150,000.00
- Minimum loan term
- 3 Years
- Maximum loan term
- 7 Years
- Security required
- Vehicle
Read our Mozo Review to learn more about the loans.com.au New Car Loan - Special
-
Used Car Loan
Fixed, Secured, No vehicle age limit
Interest rate
comparison rate
Monthly repayment6.57% p.a.7.19% p.a.based on $30,000
over 5 yearsGet a competitive fixed interest rate on a secured used car loan of up to $75,000 depending on your credit score. No vehicle age limits. Easy online application. Fast pre-approval. Pre-approved funds held for up to 3 months. No monthly account keeping fees, no exit fees and no early repayment fees. Flexible weekly, fortnightly or monthly repayments on terms from 1 to 7 years.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.
CompareCompare- Interest rate
- 6.57% p.a.
- comparison rate
- 7.19% p.a.based on $30,000
over 5 years
- Interest rate
- 6.57% p.a.
- comparison rate
- 7.19% p.a.based on $30,000
over 5 years
- Upfront fees
- $250.00
- Monthly fee
- $0.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- 0
- Minimum loan amount
- $2,001.00
- Maximum loan amount
- $75,000.00
- Minimum loan term
- 1 Year
- Maximum loan term
- 7 Years
- Security required
- Vehicle
Read our Mozo Review to learn more about the OurMoneyMarket Used Car Loan
-
Car Loan
Up to 10 years old, Fixed, Secured
Interest rate
comparison rate
Monthly repayment6.69% p.a.7.04% p.a.based on $30,000
over 5 yearsPurchase or refinance a new or used vehicle, up to five years old. Choose a loan term from one to seven years. To be eligible you must be over 18, receiving a regular income and an Australian resident.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.69% would cost $35,629.48 including fees.
CompareCompare- Interest rate
- 6.69% p.a.
- comparison rate
- 7.04% p.a.based on $30,000
over 5 years
- Interest rate
- 6.69% p.a.
- comparison rate
- 7.04% p.a.based on $30,000
over 5 years
- Upfront fees
- $250.00
- Monthly fee
- $0.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- 0
- Minimum loan amount
- $5,000.00
- Maximum loan amount
- $100,000.00
- Minimum loan term
- 1 Year
- Maximum loan term
- 7 Years
- Security required
- Vehicle
Read our Mozo Review to learn more about the Heritage Bank Car Loan
-
New Car Loan
Fixed, Secured, Excellent Credit Score [832+]
Interest rate
comparison rate
Monthly repayment7.29% p.a.to 7.79% p.a.8.00% p.a.to 8.50% p.a.based on $30,000
over 5 yearsEnjoy a quick application process and no monthly fees on NRMA new car loans. Finance also available motorcycles, caravans and motorhomes. Low fixed interest rates with terms of up to seven years. Plus, NRMA Blue Member benefits apply so you could enjoy even lower rates as an NRMA Member**.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 7.29% would cost $36,387.95 including fees.
CompareCompare- Interest rate
- 7.29% p.a.to 7.79% p.a.
- comparison rate
- 8.00% p.a.to 8.50% p.a.based on $30,000
over 5 years
- Interest rate
- 7.29% p.a.to 7.79% p.a.
- comparison rate
- 8.00% p.a.to 8.50% p.a.based on $30,000
over 5 years
- Upfront fees
- $499.00
- Monthly fee
- $0.00
- Exit fee
- $0.00
- Repayment options
- Fortnightly, Monthly
- Early repayment penalty
- $325 (no fee payable in the last 6 months of the loan term).
- Minimum loan amount
- $5,000.00
- Maximum loan amount
- -
- Minimum loan term
- 1 Year
- Maximum loan term
- 7 Years
- Security required
- Vehicle
Read our Mozo Review to learn more about the NRMA New Car Loan
-
New Car Loan - Special
Including Demo, Variable, Secured
Interest rate
comparison rate
Monthly repayment7.74% p.a.8.85% p.a.based on $30,000
over 5 yearsLow variable car loan rate for purchasing new and demo vehicles from dealers. Extra low rate for qualifying homeowners. Personalised loan amounts between $5,000 and $150,000. Flexible repayment options. Choose between the 3 to 7 year loan terms. Good credit history. Stable employment history and Australian citizenship or PR required.
Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 7.74% would cost $37,153.94 including fees.
CompareCompare- Interest rate
- 7.74% p.a.
- comparison rate
- 8.85% p.a.based on $30,000
over 5 years
- Interest rate
- 7.74% p.a.
- comparison rate
- 8.85% p.a.based on $30,000
over 5 years
- Upfront fees
- $400.00
- Monthly fee
- $8.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- $700.00
- Minimum loan amount
- $5,000.00
- Maximum loan amount
- $150,000.00
- Minimum loan term
- 3 Years
- Maximum loan term
- 7 Years
- Security required
- Vehicle
Read our Mozo Review to learn more about the loans.com.au New Car Loan - Special
* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
^See information about the Mozo Experts Choice Personal Loan Awards
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