Key Takeaways
- ✓The cheapest car to own over 5 years is the Toyota Corolla at ~$31,800 total (purchase + ownership costs).
- ✓Luxury vehicles cost 2-3x more to own than economy cars when you factor in depreciation and insurance.
- ✓EVs have the lowest fuel costs but the highest depreciation, making total cost comparable to gas vehicles.
- ✓Pickup trucks hold value best but have higher fuel and insurance costs that offset the depreciation savings.
- ✓The cost difference between the cheapest and most expensive vehicles to own is over $40,000 over 5 years.
How We Calculated True Cost to Own
We analyzed the 20 best-selling vehicles in America and calculated the total 5-year cost of ownership for each — not just the sticker price, but every dollar that leaves your wallet from the day you buy to the day you sell.
Our calculation includes five cost categories:
- Depreciation — value lost over 5 years (the biggest cost for most vehicles)
- Insurance — average full-coverage premium by vehicle type
- Fuel — based on EPA MPG ratings and $3.50/gallon gas, 12,000 miles/year
- Maintenance — routine service, repairs, tires (from RepairPal data)
- Registration — average state fees over 5 years
The Rankings: Cheapest to Most Expensive to Own
| Rank | Vehicle | Purchase Price | 5-Year Total Cost | Cost/Month | Cost/Mile |
|---|---|---|---|---|---|
| 1 | Toyota Corolla | $22,000 | $31,800 | $530 | $0.53 |
| 2 | Honda Civic | $24,500 | $33,600 | $560 | $0.56 |
| 3 | Hyundai Elantra | $22,500 | $33,200 | $553 | $0.55 |
| 4 | Kia Forte | $20,500 | $31,900 | $532 | $0.53 |
| 5 | Toyota Camry | $28,500 | $37,400 | $623 | $0.62 |
| 6 | Honda CR-V | $31,500 | $41,200 | $687 | $0.69 |
| 7 | Toyota RAV4 | $30,000 | $39,800 | $663 | $0.66 |
| 8 | Mazda CX-5 | $29,500 | $39,400 | $657 | $0.66 |
| 9 | Subaru Outback | $30,500 | $40,600 | $677 | $0.68 |
| 10 | Hyundai Tucson | $29,000 | $39,100 | $652 | $0.65 |
| 11 | Tesla Model 3 | $38,500 | $46,200 | $770 | $0.77 |
| 12 | Tesla Model Y | $44,000 | $52,800 | $880 | $0.88 |
| 13 | Nissan Rogue | $30,000 | $40,800 | $680 | $0.68 |
| 14 | Chevrolet Equinox | $28,500 | $39,200 | $653 | $0.65 |
| 15 | Toyota Tacoma | $35,000 | $43,500 | $725 | $0.73 |
| 16 | Ford F-150 | $42,000 | $54,600 | $910 | $0.91 |
| 17 | Chevrolet Silverado | $41,000 | $54,100 | $902 | $0.90 |
| 18 | RAM 1500 | $42,500 | $56,200 | $937 | $0.94 |
| 19 | BMW 3 Series | $44,000 | $62,500 | $1,042 | $1.04 |
| 20 | Mercedes C-Class | $46,000 | $66,200 | $1,103 | $1.10 |
Key Findings
Depreciation Is the #1 Cost
For every vehicle on this list, depreciation is the single largest ownership cost — typically 40-60% of the total 5-year cost. A Mercedes C-Class loses approximately $25,300 in value over 5 years, while a Toyota Corolla loses only $9,700. That $15,600 gap in depreciation alone is nearly enough to buy another Corolla.
EVs: Low Fuel, High Depreciation
The Tesla Model 3 costs just $2,200 in electricity over 5 years versus $7,500 in gas for a comparable sedan. Maintenance is also lower — no oil changes, brake pads last longer due to regenerative braking. But EVs currently depreciate 50-55% over 5 years versus 40-45% for gas vehicles, which eats into those savings. Net result: roughly comparable total cost.
Trucks: Value Retention Isn't Enough
The Toyota Tacoma retains the most value of any vehicle on this list (only 35% depreciation over 5 years). But an F-150 owner spends $9,000+ on fuel over 5 years at 22 MPG combined. When you add higher insurance and maintenance costs for trucks, the total cost exceeds most SUVs by $10,000-15,000.
Calculate Your Own
These numbers are national averages. Your actual costs depend on where you live, how much you drive, and your specific vehicle trim. Use our Total Cost of Ownership Calculator to get a personalized estimate — now powered by real EPA fuel economy data for accurate MPG figures.
And before you buy, always check the OTD Calculator to know the true out-the-door purchase price including all taxes and fees.
Frequently Asked Questions
What is the cheapest car to own over 5 years?
Based on our analysis, the Toyota Corolla has the lowest 5-year total cost of ownership at approximately $31,800 (including purchase price of $22,000, depreciation, insurance, fuel, and maintenance). The Honda Civic and Hyundai Elantra are close behind.
Are electric cars cheaper to own than gas cars?
It depends. EVs save $4,000-6,000 on fuel over 5 years and $2,000-3,000 on maintenance. However, they depreciate faster (losing 50-55% vs 40-45% for gas) and cost more to insure. For a mid-priced EV like the Tesla Model 3, the 5-year total cost is roughly comparable to a similar gas sedan.
Why do trucks cost so much to own despite holding value?
Trucks retain value well (losing only 35-40% over 5 years), but their higher purchase price, worse fuel economy (18-22 MPG vs 28-35 MPG for sedans), and higher insurance premiums more than offset the depreciation advantage. An F-150 costs $15,000-20,000 more to own over 5 years than a Camry.