Let’s be honest, cars are expensive. Not only do they cost a lot of money to buy, but cars are also expensive in terms of maintenance, repairs, insurance and fuel. Add it all up, and the vehicle you drive can prove to be a huge financial sinkhole. The good news is that some cars are cheaper to own and operate than others. While some vehicles can cost a lot to operate, others are much more affordable. Here is a list of 12 of the cheapest cars to own and operate, ranked in different categories from subcompact cars through to sport utility vehicles and hybrid cars.
12. Chevrolet Spark
If you don’t mind driving a subcompact car, i.e. a very small vehicle, than the Chevrolet Spark is the best one to choose in terms of affordability. This diminutive car costs about $12,000 to buy, but has excellent fuel economy and has proven to be quite durable and dependable. Also, the maintenance costs on this car are kept low by the fact that the parts for it are cheap and easily replaceable. Note though that this is a subcompact car, so don’t expect a lot of room inside. There is not a lot of leg room with this vehicle. Still, comfort is a small price to pay for the money you’ll save driving this car around town.
11. Toyota Corolla
The Corolla has become synonymous with the Toyota brand, and for good reason. This car has proven to be exceptionally tough and reliable. Many Corollas are still on the road with more than 200,000 miles on them. This subcompact car is known for having few breakdowns and requiring little maintenance. It has also won awards over the years for its safety features and fuel economy. Not surprising then that the Toyota Corolla has become a popular family car for people across North America, and the choice of people who like to buy a new car and hold onto it for many years. If you want a car that you can drive for 10 years or longer, the Toyota Corolla is the one for you. A new one will cost about $17,000 to start.