Study Shows 1 Popular Toyota Sedan Can Be Pricey to Own
When owning a car, there are plenty of costs that come with it. You have to pay for insurance, fuel, maintenance, and any surprising repairs that may come up. We recently reported that the 2018 Honda Fit hatchback is the cheapest car to own, according to a study conducted by Zutobi. However, there’s one popular Toyota sedan on this list that proved to be a little more costly to drive on an annual basis.
Which Toyota sedan is costly to run?
According to the study, the Toyota Camry with the 3.5-liter V6 engine can cost you more to own on an annual basis than many other commuter cars. The results didn’t specify which model year; however, Toyota has used the same 3.5-liter V6 engine in the Camry since 2007, so we expect the running costs to be similar for every model year after.
As far as the cost to own a Camry with a V6, the study shows that it can cost an average of $4,326 to fuel the car and an average of $1,618 to insure it every year. Compare those numbers to the cheapest car to own – the 2018 Honda Fit – and you’re looking at a $941 difference per year. That extra cost can add up over time.
However, it’s worth noting that the Toyota Camry trim levels that come with the V6 engine have many more creature comforts and tech-savvy features than the average Honda Fit. Not to mention a more-powerful engine. So, that added cost could be worth it for some drivers.
There’s one Mitsubishi SUV that ranked even lower
Although the Toyota Camry V6 may be more expensive to run than some cars like the Subaru Outback and Chevrolet Equinox, it’s not the most costly car on the list. Instead, the Mitsubishi Outlander took the bottom spot. According to Zutobi, it can cost an average of $4,326 to fuel up an Outlander for a year and $1,638 to insure it. That means it’s more costly than the average SUV but only $20 more than the costs to run the Camry.
Another Mitsubishi rounds out the bottom of the list
In addition to the Mitsubishi Outlander, the Eclipse Cross showed up at the bottom of the list. The Eclipse Cross is the brand’s uniquely styled crossover that minorly harkens back to the fabled Eclipse coupe from the 90s. However, it’s not as cheap to own.
The study shows that the current Eclipse Cross can cost an average of $4,326 to fill up annually and $1,607 to insure. That’s a total cost of $5,933, which beats out other rivals like the Ford Escape ($5,695) and Nissan Rogue ($5,544).
Although those cars are pricey, they are not the most expensive to own
Although the two Mitsubishi SUVs and the Toyota Camry can cost more to own than some of the cheapest cars, they pale in comparison to the more expensive vehicles. Some of the most notable SUVs on the “most expensive” list include Toyota Tundra ($6,589) and Chevy Silverado ($6,885).
If you’re looking for a vehicle that’s cheap to run, stay away from full-size trucks. However, the cars with V6 are relatively cheap to own, but they cost more than the fuel-saving hatchbacks.