“Cheapest to own” has two meanings: cheapest to run (fuel, energy, maintenance) and cheapest total cost (which adds depreciation and insurance). Here’s both.
Cheapest to run (EPA annual fuel cost)
| Rank | Car | Type | EPA fuel/yr |
|---|---|---|---|
| 1 | Tesla Model 3 | EV | $550 |
| 1 | Tesla Model Y | EV | $550 |
| 3 | Tesla Model S | EV | $600 |
| 4 | Chevrolet Bolt EUV | EV | $650 |
| 5 | Hyundai Ioniq 6 | EV | $650 |
EVs sweep the cheapest-to-run list because electricity costs less per mile than gas. The thriftiest hybrids (Toyota Prius, Hyundai Elantra Hybrid) come next at about $1,150/year. At the other end, full-size trucks like the GMC Sierra 1500 run $3,650/year. Full list: cheapest cars to run.
Why running cost isn’t the whole story
Over five years, depreciation is usually the single biggest cost of owning a car — often more than fuel and maintenance combined. A typical new car loses 40–60% of its value in that time. Two cars with identical MPG can have wildly different total costs depending on how well they hold value.
That’s why our cost-to-own calculator adds four lines: fuel, maintenance, insurance and depreciation. The fuel figure comes straight from EPA data; you supply realistic numbers for the rest.
How to find your cheapest car
- Shortlist on running cost using the rankings.
- Check each model’s vehicle page for its EPA fuel cost and a 5-year estimate.
- Add real depreciation and insurance quotes in the cost-to-own calculator.
The cheapest car to own is the one that’s cheap to run and holds its value — not just the one with the best MPG sticker.