Car running costs 2024

Over the course of a year, the amount of money you spend to keep your car on the road can easily run into thousands of dollars, particularly if you’re paying off a car loan with interest rates creeping higher. In addition to ongoing running costs, depreciation means the value of your car will be going down, reducing its value significantly as the months and years roll by.

Before you buy a car, it’s worth considering just what the total costs of owning and running it will be as it can vary significantly depending on what you choose.

To help you uncover the true costs of a car before you buy, RAC’s 2024 Car Running Costs guide provides a breakdown of the weekly, monthly and annual costs associated with owning and operating a car in Western Australia.

We assessed more than 80 popular cars across 11 categories, considering the cost of fuel and servicing, loan repayments, along with the initial purchase price, depreciation, the Compulsory Third Party insurance (CTP) that is part of your car registration and general car insurance premiums.

You can also see how car registration costs are calculated and which cars are cheaper to register by checking our car registration costs breakdown.

Our Car Running Costs calculations are based on a five-year period from new, driving 15,000km per year in private use. For more details about the assumptions used to calculate these results, see the Calculations Criteria sections below. A full list of results from all vehicles is also available in PDF format below.

Cheapest cars to fuel

Most of the cheapest cars to ‘fuel’ were in the electric vehicle (EV) category. The BYD Dolphin was the cheapest at just $49.77per month to charge. In this year’s survey the second cheapest EV to charge was the Tesla Model 3 Rear Wheel Drive with a monthly charging cost of $52.14.

RELATED: Electric SUVs available in Australia 2024 »

Outside of the electric and plug-in hybrid vehicles, the cheapest car for fuel costs overall was a light car – the Toyota Yaris SX Hybrid with a monthly fuel cost of just $80.60, followed by the Toyota Yaris Cross GXL Hybrid - a light SUV - at $92.82 per month.

In the popular mid-size SUV category, the best for low fuel costs among the non-electric and plug-in hybrid vehicles was the Toyota RAV4 Cruiser (2WD) Hybrid, costing $117.24 per month for fuel.

Of the six EVs in the mid-size SUV category, the Hyundai Ioniq 5 cost the least to recharge at $75.05.

Among the large SUVs, the Toyota Kluger GX Hybrid AWD was the cheapest on fuel with monthly costs of $152.04.

However, despite being light on fuel, the Kluger's much higher purchase price meant it was the most expensive car to own and run overall in the large SUV category, with monthly costs of $1,839.86.

It's servicing costs, however, were the lowest by far in the large SUV category at $26.67 per month, compared to the Mitsubishi Pajero Sport GLX which had the highest servicing cost of the large SUVs at $209.

Among the 4X4 utes, the Toyota HiLux SR5 was the cheapest to fuel at $188.10 per month.

Once again, the biggest fuel guzzler overall was the Nissan Y62 Patrol Ti l (in the All Terrain category). It will set you back $390.69 in fuel per month.

Cheapest cars to own and run by category

The impact of depreciation

Depreciation is still the single biggest cost of owning a car, despite it being something drivers don’t often consider because it doesn’t become an issue until it comes time to sell the car.

Generally, the more you pay for a vehicle when it’s new, the more dollars you’ll lose in depreciation over the lifetime of the vehicle. That said, the same vehicle may still lose a lower percentage of its initial value than other vehicles, and therefore have lower depreciation in percentage terms.

The Landcruiser 70 Series, which has been in high demand and low supply in recent years, is a good example of this.

Among the mid-size SUVs, the Toyota RAC 4 Cruiser 2WD Hybrid lost the least to depreciation dropping $22,752.52 from its initial value over five years. In the large SUV category, the Subaru Outback AWD lost the least ($24,594), while BMW 330i M Sport was the biggest loser of all in this year's survey when it came to depreciation, shedding $53,063 in value after five years.

Cheapest light car - Suzuki Swift Hybrid 

The Suzuki Swift Hybrid was the cheapest light car to own and run. With an estimated on-road price of $29,005, after five years its trade-in value will be approximately $13,600. The Swift's total standing costs (registration, insurance and CTP) are $165 per month.

To fuel the Swift, you’ll be paying $108.60 per month. Regular servicing averages out to $36.75 per month and $15.27 for tyres. Principal and interest loan repayments will be $656.56 per month.

Adding both standing costs and running costs together, the total cost of owing and keeping the Suzuki Swift on the road are $982.18 per month, or $226.66 per week.

Runners up:

• Mazda 2 G15 Pure - $1020.72 total p/month ($235.56 p/week)
• MG3 Hybrid - $1038.84 p/month ($239.73 p/week)

Cheapest small car - MG5 Essence

The MG5 Essence was the cheapest small car to own and run. Its estimated on-road price is $30,861.32 and after five years, its trade-in value will be approximately $15,500. The MG5's total standing costs (registration, insurance and CTP) are $234.60 per month.

Looking at running costs for the MG5 Essence, fuel costs are $156.32 per month, servicing works out to $50.23 per month, tyres are $14.60 per month, and monthly principal and interest loan repayments are $675.94.

Overall, the total cost to own and run the MG5 Essence will be $1131.69 per month, or $261.16 per week.

Runners up:

• BYD Dolphin hatch EV - $1135.17 p/month ($261.96 p/week)
• Kia Cerato Sport - $1169.61 p/month ($269.91 p/week)

Cheapest medium car - Toyota Camry Ascent Hybrid

The Toyota Camry Ascent Hybrid is the cheapest mid-size car to own and run. Its estimated on-road price is $45,664.44 and after five years depreciation will bring its value down to $27,300. Overall, its total standing costs (registration, insurance and CTP) will be $178.78 per month.

Fuel will cost you $122.18 per month, servicing will be $25.83 per month, tyres $11, and $1000.16 per month for principal and interest loan repayments.

Combining standing costs and running cost, the total cost of owning and running the Camry Ascent are $1337.94 per month, or $308.76 per week.

Runners up:

• Mazda 6 G25 Sport - $1343.94 p/month ($310.14 p/week)
• BYD Seal EV - $1508.48p/month ($348.11 p/week)

Cheapest people mover - Kia Carnival Sport

The Kia Carnival Sport is the cheapest people mover to own and run. With an estimated on-road price of $62,714.28 and a trade-in value after five years of $27,700, its total standing costs (registration, insurance and CTP) come to $264.94 per month.

You'll be paying around $234.48 per month for fuel, $50.30 for servicing per month, $17.93 on tyres and $1315.89 in principal and interest loan repayments per month.

Overall, it will cost $1,883.55 to own and run the Kia Carnival per month, or $434.66 per week.

Runners up:

• Hyundai Staria Elite - $ 1,939.23 p/month ($447.51 p/week)
• LDV MIFA Executive - $2086,57 p/month ($481.52 p/week)

Cheapest light SUV - Hyundai Venue

The cheapest light SUV to own and run is the Hyundai Venue. It has an estimated on-road price of $30,430.27 and a trade-in value after five years of $13,400. Its standing costs (registration, insurance and CTP) come to $185.05 per month.

Fuel will cost $175.86 per month, servicing is $33.33 per month, tyres $14.33, and monthly principal and interest loan repayments $666.49.

Together, the total standing costs and running costs come to $1075.07 per month, or $248.09 per week.

Runners up:

• Mazda CX3 - $1091.47 p/month ($251.88 p/week)
• Kia Stonic GT Line - $1132.99 p/month ($261.46 p/week)

Cheapest small SUV - MG ZST

The cheapest small SUV to own and run is the MG ZST. It has an estimated on-road price of $32,473.81 and a trade-in value after five years of $14,200. Its standing costs (registration, insurance and CTP) come to $236.84 per month.

Fuel will cost $173.42 per month, servicing is $44.07 per month, tyres $13, and monthly principal and interest loan repayments $711.25

Together, the total standing costs and running costs come to $1178.58 per month, or $271.98 per week.

Runners up:

• Mitsubishi ASX - $1179.13 p/month ($272.11p/week)
• Kia Seltos Sport - $1215.56 p/month ($280.51 p/week)

Cheapest medium SUV - BYD Atto 3 Standard Range

The BYD Atto 3 Standard Range electric vehicle is the cheapest medium SUV to own and run. Its estimated on-road price is $51,988.83 and its trade-in value after five years is $21,900. The Atto 3's total standing costs (registration, insurance and CTP) are $210.07 per month.

You can expect to pay $63.20 per month to charge the Atto 3, $26.32 per month in servicing, $17.27 per month towards tyres, and principal and interest repayments on a loan will be $1090.85 per month.

Total standing and running costs per month are $1,407.70 or $324.85 per week.

Runners up:

• BYD Atto 3 Extended Range - $1,481.98 p/month ($341.99 p/week)
• Mitsubishi Outlander - $1,520.59 p/month ($350.91 p/week)

Cheapest large SUV - Mitsubishi Pajero Sport GLX 2WD 

The cheapest large SUV to own and run is the Mitsubishi Pajero Sport GLX 2WD. The Pajero's estimated on-road price is $50,588.40 and its trade-in value after five years is $25,500. Total standing costs (registration, insurance and CTP) are $229.41 per month.

Fuel costs are $209 per month, servicing costs are $53.43 per month, $23 for tyres, and monthly principal and interest repayments on a loan are $1061.46.

Altogether, you'll be paying $1,576.30 to own and run the Pajero per month, or $363.76per week.

Runners up:

• Subaru Outback AWD - $1,578.19 p/month ($364.20 p/week)
• Isuzu MU-X - $1,685.21 p/month ($388.89 p/week)

Cheapest all terrain SUV - Mitsubishi Pajero Sport GLX 4WD

The cheapest all terrain SUV to own and run is the Mitsubishi Pajero Sport GLX 4WD. Its estimated on-road price is $57,986.05, with a trade-in value of $29,700 after five years. Total standing costs (registration, insurance and CTP) come to $236.89 per month.

Fuel will set you back around $209 per month, servicing is $53.43 per month and $19.67 for tyres, plus $1,216.68 for monthly principal and interest repayments on a loan.

The total cost of owning and running the Pajero Sport GLX 4WD comes to $1,735.67 per month, or $400.54 per week.

Runners up:

• Isuzu MU-X 4x4 - $1,841.30 p/month ($424.91 p/week)
• Ford Everest Ambiente 4WD - $1,921.85 p/month ($443.50 p/week)

Cheapest 2WD ute - Toyota Hilux Workmate 

The cheapest 2WD ute to own and run is the Toyota Hilux Workmate. The Hilux's estimated on-road price is $50,318.99 and its trade-in value after five years is $23,100. Total standing costs (registration, insurance and CTP) come to $214.95 per month.

Fuel costs are around $195.94 per month, servicing is $40.11 per month, tyres $19.67 and principal and interest loan repayments $1055.81 per month.

Overall, to own and run this ute you'll be paying $1,526.48 per month, or $352.26 per week.

Runners up:

• Isuzu D-Max SX - $1,549.92 p/month ($357.67 p/week)
• Mitsubishi Triton GLX - $1,561.95 p/month ($360.45 p/week)

Cheapest 4WD ute - GWM Cannon 

The cheapest 4WD ute to own and run is the GWM Cannon.Its estimated on-road price is $43,919 and its trade-in value after five years is $16,900. Total standing costs (registration, insurance and CTP) come to $238.88 per month.

Expect to pay $245.58 in fuel per month, $45.67 in servicing per month, $23  for tyres, and monthly principal and interest loan repayments of $841.15.

Combined standing costs and running costs come to $1,515.07 per month, or $349.63 per week.

Runners up:

• LDV T60 Max Pro - $1,629.39 p/month ($376.01 p/week)
• Toyota Hilux 4x4 Workmate - $1,674.22 p/month ($386.36 p/week)