For many, buying a car is an essential purchase. A car is needed for commuting, running the kids around and more. Whether you’re living in a rural area, or in a city, it’s likely owning a car will make your life easier and you won’t have to rely on others or public transport.
There’s a sense of freedom that comes with owning your own car. However, a car can be an expensive investment. And that’s not just the initial purchase. Whether you buy a car on finance or have saved up to buy it outright, that is just one cost that you need to consider. Even if you got a great deal on the price of your car, if the running costs are high, that won’t matter in the long run.
When you’re looking to purchase a car, you should look at the running costs before you make a decision. This includes looking at the fuel economy (MPG), insurance costs, tax bracket, resale value and average maintenance costs.
Whether you are looking to buy a cheap old car, or are looking at a brand-new car, the running costs can make all the difference in the long run. Here are five of the cheapest cars to run:
When the Celerio first came on the scene, it was one of the cheapest new cars on the market. Now there are used Celerios available, the initial costs can be even cheaper.
When it comes to running costs, the fuel economy is respectable. The 1 litre engine runs at around 58 MPG and, with emissions measured at 89g/km of CO 2 , the car falls into one of the lower tax brackets. Suzuki is also a reliable brand, so repair costs shouldn’t be a worry. However, this car does have high insurance costs for its power and size. But compared to how cheap it is to run, it’s definitely worth doing the maths to see if it’s right for you.
Overall, this car makes a great choice for a city run-around or company car.
The VW Polo is a great economic option. Most of the petrol models have an MPG of around 60. As its emissions are 103g/km of CO 2, this car sits on the cheaper half of the tax brackets. You can also expect low insurance and servicing costs for this car. As the car is VW you can expect it to be reliable. However, parts can be a little pricier than competitors, but as you’re unlikely to need to buy parts due to its reliability, this shouldn’t cause too much concern.
The Polo is also a little on the pricey side when you buy it, although it retains its value well. For a long-standing, reliable car that is cheap to run, the VW Polo is definitely a strong contender.
This car is definitely one of the more expensive ones on our list for upfront costs. However, you do get quite a lot for your money here and this car generally has a high resale value.
When it comes to running costs, the Hyundai i10 manages about 43MPG, which is fairly efficient. This car should also come under the cheapest insurance brackets, so it’s especially economical if you have a few years of no-claims bonus. Hyundai, as a brand, are known for being reliable, so you shouldn’t have trouble with having to repair it often.
Although this car is initially pricey, it makes up for this in the long run. It also comes with a decent amount of space, so can be a good choice for a money-conscious family.
A family hatchback from a reliable brand, the Honda Jazz is an affordable car. Although expensive when you first buy this car, the running costs soon change it to an economical choice. Plus, with a good resale value, the upfront price really doesn’t affect the overall cost. The 1.5l engine has a good MPG of around 58. This makes it a nice economical run around. Also, with emissions at 104g/km of CO 2, it beats its main rivals here. This means that tax is fairly low, being in one of the lower brackets.
Another reliable brand, you can be confident that you won’t have to be making constant repairs to this car. And if anything does need replacing as the car ages, parts are usually affordable. The Honda Jazz offers good all-round value and makes a good choice for a family car as there’s plenty of space.
Mini Cooper D
The final car in our list of cars with cheap running costs is the Mini Cooper D. The D refers to the fact it is a diesel engine. Mini Cooper stopped making diesel engines in 2018 so you are likely to only be able to buy one of these secondhand. However, as this car has been around for a while you should easily be able to find a used one.
In terms of running cost, this car is the most efficient on the list. The 1.5 litre diesel engine runs at about an impressive 80 MPG. Also, emissions come in at around 95g/km of CO 2 , meaning it’s in one of the lowest tax brackets. Furthermore, the Mini is reliable. Being part of the BMW group, parts are reliable, so maintenance costs are low.
If you’re in the market for a new car, it’s important not to just look at the initial price, but also how much it is likely to cost to run, as these add up quickly. Whether you buy a car outright or with finance, even with bad credit, looking at the running costs will help you find the car that will be cheapest for you in the long run.