Study: The Tesla Model Y and the Honda CR-V are the only SUVs that won’t cost you big bucks to run
Everyone buys cars differently. Admit it or not, you’re likely to follow your preferences when buying a car, from aesthetics to fuel economy to budget-sapping running costs. However, if you’re looking for an SUV with the lowest running costs, your choices may be limited to the wildly popular Tesla Model Y and Honda CR-V.
Ownership data puts the Tesla Model Y and Honda CR-V as the only SUVs on the list of the cheapest vehicles to run
In a recent study, Self Financial released its list of the cheapest vehicles to run in the United States. The rankings considered factors like maintenance costs, insurance, fuel expenditures, average fees, and taxes to land on the rankings. The all-electric and seemingly ubiquitous Tesla Model 3 took the top spot. As for SUVs, pickings are slim.
Specifically, the Tesla Model Y and Honda CR-V are the only two models in the SUV segment to make the list. They’re surrounded by affordable, economically-minded sedans like the Hyundai Elantra, Toyota Corolla, and Kia Forte.
| Make and model | Annual overall running costs | Average yearly maintenance | Rank |
|---|---|---|---|
| Tesla Model 3 | $5,061 | $1,143 | 1 |
| Hyundai Elantra | $5,104 | $1,435 | 2 |
| Toyota Corolla | $5,182 | $1,497 | 3 |
| Tesla Model Y | $5,393 | $1,339 | 7 |
| Nissan Altima | $5,449 | $1,559 | 8 |
| Honda CR-V Hybrid | $5,485 | $1,518 | 10 |
Tesla’s best-selling vehicle, the Model Y, took the No. 7 spot overall, with an average annual running cost of about $5,393. As you might expect, the juice that constitutes the Model Y’s annual “fuel” costs were exceptionally low at $708. However, the Model Y is let down by its typical insurance bill, namely $2,399. Consequently, the taller sibling to the Model 3 is the priciest vehicle to insure in the lot.
On the other hand, the perennially popular Honda CR-V Hybrid comes in at around $1,670 to insure on a yearly basis. Of course, your insurance rates depend on factors like age, driving record, location, and gender.
What’s more, the CR-V Hybrid’s fuel costs and insurance are much more affordable than Tesla’s most popular EV. However, with average running costs at $5,485, the Honda CR-V Hybrid takes dead last in the list of the top 10 most affordable vehicles to run in the country.
