The U.S. is a land of cars, but cars have become an expensive necessity with loads of financial liability.
The average new car in America sold for a record high $49,507 in December, according to Kelley Blue Book, and that price is just shy of what the median American worker brings home in a year: about $54,132.
The average monthly car loan payment in the U.S. hovers around $700-$748 for new vehicles -- depending on whom you ask, and $525 for used ones, and interest rates have been creeping up.
The price of a car is just the beginning. From there, cars lose value and they keep asking you to spend more money on them. You have to pay to insure them, pay to fuel them, and pay to keep them running.
This list looks at the cost of insurance and gas for some of America’s most popular cars. They range in price from $16,645 to around $35,400 for gas cars.
But these days, the choices for inexpensive cars are fewer. Two of the lowest-cost cars on the top of this list are no longer in production, the Honda Fit and the Toyota Yaris. These subcompact workhorses were low-priced and got good mileage, and are among the cheapest cars to operate.
To compile this list of cheapest cars to run, Zutobi, an online driver-education resource for new drivers, used a variety of sources to find the most popular vehicles, cost of gas per mile, average miles driven per year, and average insurance rates for each vehicle.
There are five electric cars at the end of this list, ranging in starting prices from $25,600 and up to $46,895. Zutobi used the same calculators for the EVs, except instead of the gas cost they used ChooseEV’s EV Savings Calculator to find the car’s Utility kWh rate for the estimated costs per mile.
Averages are based on a 40-year-old male driver who commutes 12 miles to work, with policy limits of $100,000 for injury liability for one person, $300,000 for all injuries and $50,000 for property damage in an accident, and a $500 deductible on collision and comprehensive insurance, and uninsured-motorist coverage. Rates were averaged across multiple ZIP codes and insurance companies, so your own rates can be much different depending on a variety of factors.
The gas cost is based on the U.S. average of 12,724 miles a year.
Based on Zutobi’s research, here are 25 of the cheapest cars to run, followed by the five EVs.
1. Honda Fit (2018)
- Cost of gas per mile: 30¢
- Cost of gas per year: $3,817
- Annual insurance premium: $1,186
- Total: $5,003
The discontinued Fit started at $17,185.
Honda
2. Toyota Yaris (2020)
- Cost of gas per mile: 31¢
- Cost of gas per year: $3,944
- Annual insurance premium: $1,310
- Total: $5,254
The 2020 Yaris cost $16,645 new. The model has been discontinued.
3. Hyundai Accent
- Cost of gas per mile: 30¢
- Cost of gas per year: $3,817
- Annual insurance premium: $1,536
- Total: $5,353
A new 2023 Accent starts at $16,645. The Accent is one of the lowest-price cars currently in production.
Hyundai
4. Honda Civic
- Cost of gas per mile: 30¢
- Cost of gas per year: $3,817
- Annual insurance premium: $1,567
- Total: $5,384
Starts at: $25,050
Honda
5. Mini Cooper Convertible
- Cost of gas per mile: 31¢
- Cost of gas per year: $3,944
- Annual insurance premium: $1,449
- Total: $5,393
Starts at: $28,400
MINI
6. (tie) Toyota RAV4
- Cost of gas per mile: 32¢
- Cost of gas per year: $4,072
- Annual insurance premium: $1,433
- Total: $5,505
Starts at: $27,975
Toyota
6. (tie) Hyundai Elantra
- Cost of gas per mile: 30¢
- Cost of gas per year: $3,817
- Annual insurance premium: $1,688
- Total: $5,505
Starts at: $20,500
8. Honda CR-V
- Cost of gas per mile: 33¢
- Cost of gas per year: $4,199
- Annual insurance premium: $1,340
- Total: $5,539
Starts at: $31,610
9. Subaru Forester
- Cost of gas per mile: 33¢
- Cost of gas per year: $4,199
- Annual insurance premium: $1,342
- Total: $5,541
Starts at: $26,395
Subaru
10. Nissan Rogue
- Cost of gas per mile: 32¢
- Cost of gas per year: $4,072
- Annual insurance premium: $1,472
- Total: $5,544
Starts at: $27,360
11. Toyota Corolla
- Cost of gas per mile: 31¢
- Cost of gas per year: $3,944
- Annual insurance premium: $1,609
- Total: $5,553
Starts at: $21,550
Toyota
12. Honda HR-V
- Cost of gas per mile: 33¢
- Cost of gas per year: $4,199
- Annual insurance premium: $1,360
- Total: $5,559
Starts at: $24,895
Honda
13. Honda Accord
- Cost of gas per mile: 31¢
- Cost of gas per year: $3,944
- Annual insurance premium: $1,617
- Total: $5,561
Starts at: $27,295
Honda
14. Kia Soul
- Cost of gas per mile: 32¢
- Cost of gas per year: $4,072
- Annual insurance premium: $1,526
- Total: $5,598
Starts at: $19,890
15. Ford Escape
- Cost of gas per mile: 34¢
- Cost of gas per year: $4,326
- Annual insurance premium: $1,369
- Total: $5,695
Starts at: $27,500
16. Mazda CX-5
- Cost of gas per mile: 34¢
- Cost of gas per year: $4,326
- Annual insurance premium: $1,371
- Total: $5,697
Starts at: $26,700
Mazda
17. Subaru Outback
- Cost of gas per mile: 33¢
- Cost of gas per year: $4,199
- Annual insurance premium: $1,508
- Total: $5,707
Starts at: $28,395
Subaru
18. Mazda Mazda3
- Cost of gas per mile: 32¢
- Cost of gas per year: $4,072
- Annual insurance premium: $1,644
- Total: $5,716
Starts at: $22,550
Mazda
19. Chevrolet Equinox
- Cost of gas per mile: 34¢
- Cost of gas per year: $4,326
- Annual insurance premium: $1,455
- Total: $5,781
Starts at: $26,600
20. Hyundai Sonata
- Cost of gas per mile: 32¢
- Cost of gas per year: $4,072
- Annual insurance premium: $1,728
- Total: $5,800
Starts at: $25,100
Hyundai
21. Audi A3
- Cost of gas per mile: 31¢
- Cost of gas per year: $3,944
- Annual insurance premium: $1,857
- Total: $5,801
Starts at: $35,400
22. Nissan Altima
- Cost of gas per mile: 31¢
- Cost of gas per year: $3,944
- Annual insurance premium: $1,885
- Total: $5,829
Starts at: $25,290
Nissan
23. Mitsubishi Eclipse Cross
- Cost of gas per mile: 34¢
- Cost of gas per year: $4,326
- Annual insurance premium: $1,607
- Total: $5,933
Starts at: $27,335
24. Toyota Camry
- Cost of gas per mile: 34¢
- Cost of gas per year: $4,326
- Annual insurance premium: $1,618
- Total: $5,944
Starts at: $26,220
Toyota
25. Mitsubishi Outlander
- Cost of gas per mile: 34¢
- Cost of gas per year: $4,326
- Annual insurance premium: $1,638
- Total: $5,964
Starts at: $27,595
The Cheapest EVs to Operate
Mitsubishi
1. Hyundai Kona Electric
- Cost of electricity per year (15,000 miles): $1,527
- Annual insurance: $1,487
- Total: $3,014
Starts at: $33,550
If you buy a new EV in 2023 or later and meet certain income limitations, you may be eligible for a clean vehicle tax credit up to $7,500, or more depending on which state you live in. But last year Congress changed the rules that determine which vehicles qualify, and manufacturers are still submitting data, so make sure a vehicle qualifies by checking the IRS list here.
Hyundai
2. Nissan Leaf
- Cost of electricity per year (15,000 miles): $1,527
- Annual insurance: $1,703
- Total: $3,230
Starts at: $28,040
Nissan
3. Chevrolet Bolt
- Cost of electricity per year (15,000 miles): $1,527
- Annual insurance: $1,719
- Total: $3,246
Starts at: $25,600
4. Hyundai Ioniq 5
- Cost of electricity per year (15,000 miles): $1,527
- Annual insurance: $1,762
- Total: $3,289
Starts at: $41,450
5. Ford Mustang Mach E
- Cost of electricity per year (15,000 miles): $1,527
- Annual insurance: $1,945
- Total: $3,472
Starts at: $46,895
Visit Zutobi for the complete methodology for this study.
Ford
